Union Investment has sold the 17,600 m² Shiomi Koyama office building in eastern metropolitan Tokyo to Shimizu Corporation, a Japanese construction group. Constructed in 1995 and located in the K?t? district, the building is fully let to financial services provider Daiko Clearing Services, and has been held for close to ten years by open-ended real estate fund Unilmmo: Global. The financial details of the transaction were not disclosed.
The Shiomi Koyama office property is a free-standing building with ten storeys that enjoys panoramic views across Tokyo Bay. It offers parking for 70 cars in addition to the office space. The building has good public transport links both to Tokyo’s main railway station and to Haneda airport. Touchstone Capital Management advised Union Investment on the sale.
Union Investment retains a presence in Japan and has continued ambitions to further grow the portfolio in Japan and the region.