Nippon Building Fund Incorporation (TSE:8951) signed an contract to acquire Iidabashi Grand Bloom from Mitsui Fudosan Co., Ltd. (TSE:8801) for ¥77.6 billion on August 16, 2021. In related transaction Nippon Building Fund Incorporation signed an contract to sell 4 properties for ¥75.4 billion on August 16, 2021. Consideration will be financed from the combination of cash in hand, loans and sale proceeds.

Transaction is expected to complete on September 30, 2021. Daiwa Real Estate Appraisal Co., Ltd. acted as appraiser.