Hulic Co., Ltd. acquired Trust Beneficiary Rights in Shintomicho Building from Japan Excellent, Inc..
January 30, 2023
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Hulic Co., Ltd. (TSE:3003) executed a Purchase Agreement to acquire Trust Beneficiary Rights in Shintomicho Building from Japan Excellent, Inc. (TSE:8987) for ¥3.1 billion on February 17, 2022. Trust Beneficiary Rights in Shintomicho Building will be transferred in two phases of which the first phase is for 40% ownership for ¥1.24 billion and in the second phase, the remaining 60% ownership will be transferred for ¥1.86 billion. Completion of the first phase is planned on July 22, 2022, and completion of the second phase is planned January 26, 2023. Japan Excellent, will partially use the gain on the sale to pay distributions for the period ending June 30, 2022, and the remaining amount will be retained internally to be used for stabilizing future distributions. Nippon Steel Kowa Real Estate Co., Ltd. acted as broker to Japan Excellent.
Hulic Co., Ltd. (TSE:3003) acquired Trust Beneficiary Rights in Shintomicho Building from Japan Excellent, Inc. (TSE:8987) in January, 2023.
Japan Excellent, Inc. is a real estate investment trust (REIT) company. It aims to achieve sustainable growth in asset and stable earnings from mid- to long-term perspectives. It primarily invests in office buildings located in Tokyo's six central wards, central Osaka and Nagoya, Tokyo's surrounding areas, including Kanagawa, Saitama and Chiba Prefectures, as well as other government-designated cities. Its property portfolio includes Kowa Kawasaki Nishiguchi Building, Akasaka Garden City, Omori Bellport D, AKASAKA INTERCITY, Musashikosugi Tower Place, Daiba Garden City Building, Kowa Kawasaki Higashiguchi Building, Shiba 2-Chome Building, JEI Hamamatsucho Building and No.44 Kowa Building. The asset manager of the Fund is Japan Excellent Asset Management Co., Ltd.
JAPAN EXCELLENT, INC. 
