Japan Retail Fund disposes assets
Japanese retail REIT Japan Retail Fund (JRF) has disposed of a suburban mall in the city of Sendai to an unnamed buyer for JPY 9.92bn (US$89.3m). The AEON Sendai Nakayama shopping centre has more than 43,000 sq.m. of floor area across three buildings, the seller said in an announcement. It is located 6km north of the Sendai, the capital city of the Miyagi Prefecture and one of the largest cities north of Tokyo. JRF, which is managed by asset manager Mitsubishi Corp UBS Realty, said the deal was part of its strategy to dispose of “sub assets” and reinvest in core properties.
Tags : INTERNATIONAL