FY2/14, ie, around Sept 2013, by our current earnings f/cs). DHR still has around ¥19.0bn in negative goodwill remaining that it will be able to use in the event of a temporary earnings slump, meaning that even for a JREIT DHR has extremely minor earnings downside risks. Full Report
Japan Real Estate Investment Corp.: Notice concerning New Loan (Co)
(1)
Start of the loan period:
Dec 21, 2012
(2)
Total amt of loan:
JPY10,000 mn
(3) Lender, amt of loan, & principal repayment date:
(4)Interest rate:0.80125% (fixed)
TEPCO subsidiary sells office building in Akasaka (Nikkei Real Estate BP)
Toden Real Estate, a subsidiary of Tokyo Electric Power Co (TEPCO), sold the Miyahara Daini Building in Akasaka, Minato-ku, Tokyo. The buyer was real estate co Mitsuwa Systems, which did not disclose the details of the transaction incl the price & the purpose of the acquisition. Mitsuwa Systems obtained a mortgage w/ a hypothec registered in the maximum amt of 330myen [$3.9 mn] from Sumitomo Mitsui Banking Corporation in order to purchase the property.
German fund makes 1st investment in Japan (Nikkei Real Estate BP)
In Nov, iii-investments, a fund mgt co of a German bank, acquired 4 condominiums in Tokyo & Yokohama. The total acquisition price is 53m? [$70 mn]. This is the 1st investment in Japan for the co that is aiming to build a Japan portf "in the triple-digit-mn-range." The investment in Japan is solely funded by a major German pension fund, said to have been carefully prepared over the past 2 yrs. It is the 1st time for iii-investments to acquire properties in Asia. The co plans to acquire various types of real estate properties other than residences.
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