March 5, 2020 | |
To whom it may concern: | |
Company name: | Mitsubishi Estate Co., Ltd. |
Representative: | Junichi Yoshida, |
President and Chief Executive Officer | |
Securities code: | 8802 |
Contact: | Motohiro Sato, |
General Manager of the | |
Corporate Communications Department | |
Telephone: | +81-3-3287-5200 |
Notice Concerning Partial Transfer of Property
Mitsubishi Estate Co., Ltd. (hereafter the "Company") hereby announces today the partial transfer of property. Brief details are as follows.
1. Reason for Transfer
In accordance with its property portfolio strategy in the Long-Term Management Plan, the Company endeavors to improve ROA and also recover its investments, channeling the funds into future business opportunities.
2. Outline of Transfer
Asset Type: 33.1% of quasi co-ownership of trust beneficiary right of real estate (land), 49.9% of co-ownership of unit ownership right (office spaces from 9F to 20F, store and district cooling/heating facility spaces)
Asset Name: Otemachi Park Building
Location: 1-1-1 Otemachi, Chiyoda-ku, Tokyo
Land Area: 9,338.74 ㎡ (Registry book records)
Building Structure: Steel-reinforced concrete, 5B/29F Total Floor Area:146, 611.42 ㎡ (Registry book records) Date Completed: January 2017
Book Value: About ¥ 93.9 billion
Transfer Value: About ¥ 99.8 billion
3. Outline of Transferee 【Transferee No.1】
Company Name: Tokyo MN1 TMK
Headquarters: 3-1-1 Marunouchi, Chiyoda-ku, Tokyo
Representative: Keisuke Ando, Director
【Transferee No.2】
Company Name: Japan Real Estate Investment Corporation Co., Ltd.
Headquarters: 1-1-1 Otemachi, Chiyoda-ku, Tokyo
Representative: Yutaka Yanagisawa, Executive director
【Transferee No.3】
Company Name: Nippon Open Ended Real Estate Investment Corporation
Headquarters: 1-6-5 Marunouchi, Chiyoda-ku, Tokyo
Representative: Takuya Yokota, Executive director
4. Planned Transfer Schedule
March 5, 2020: Transfer agreement execution
March 24, 2020: Settlement and handover
5. Other
Currently there is no change in the estimated net income of ¥ 137 billion for FY 2020 announced on May 14, 2019.
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Mitsubishi Estate Co. Ltd. published this content on 05 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 March 2020 11:22:05 UTC