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Kasumigaseki Capital to Sell Development Site in Miami, Florida

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Kasumigaseki Capital (TYO:3498) plans to sell a development site in Miami, Florida, which is held by its U.S. subsidiary, Kasumigaseki Florida LLC, according to its Tokyo bourse filing on Wednesday.

The site, called the Miami BLOCK C EAST project, is a planned mixed-use hotel and residential area at Miami Worldcenter, spread across about 5,700 square meters, the filing said.

The buyer and sale price were not disclosed due to the non-disclosure agreement, but the sale price exceeds 10% of Kasumigaseki Capital's consolidated net sales for the fiscal year ended August 2025, it said.

Shares of Kasumigaseki Capital rose nearly 2% in recent trade.

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