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ORIX to Acquire 50% Stake in Toyosu Prime Square for 29.4 Billion Yen in Japan

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Orix JREIT (TYO:8954) said its asset company ORIX Asset Management Corporation agreed to acquire a 50% quasi-co-ownership interest in Toyosu Prime Square, an office property in Koto Ward in Tokyo, Japan, for 29.4 billion yen, according to a Tokyo Stock Exchange filing on Wednesday.

The real estate trust will also acquire an additional 50% interest in the Naha Shin-Toshin Center Building in Okinawa from Daiwa House REIT Investment for 10.6 billion yen.

The stake in Naha Centre will be acquired in five phases of 10% each between Aug. 31 and Sept. 1, 2028, while the transaction for Toyosu Prime Square will be completed on Sept. 30.

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