Hamburg-based Union Investment Real Estate AG has purchased the brand new office building Glass City Harumi in Tokyo's rapidly developing Harumi district. The transaction is worth well over €100 million and was carried out for Union Investment's open-ended real estate fund UniImmo: Global.
Glass City Harumi in Tokyo's Harumi
The acquisition of Glass City Harumi is in line with the fund's portfolio strategy and follows shortly after the purchase of the retail property Solado Harajuku, also located in Tokyo, which was acquired for UniImmo: Global in July 2008 for some €90 million.
"Glass City Harumi fits excellently into our portfolio strategy for UniImmo: Global of expanding the holdings in Asia. In particular we are focusing on further diversification of uses and locations," says Steffen Wolf, Managing Director of Union Investment Real Estate Asia Pacific.
With the office space already fully taken up and the property's preferred location by national and multinational corporations, full occupancy is certain to remain in the long term. Situated within walking distance of two metro stations and several major roads, the landmark property is well connected to Tokyo's central business district. The efficient building layout leads to a total of 11,200 m