Asia
Japan Metropolitan Fund Investment to Sell Osaka Retail Land for 7 Billion Yen
Japan Metropolitan Fund Investment (TYO:8953) has agreed to dispose of a trust beneficiary right in Edion Kyobashi, a land with leasehold interest in Osaka, for 7 billion yen, according to a Tokyo bourse filing on Monday.The transaction is expected to generate a gain of roughly 1.1 billion yen, which will be fully distributed to unitholders in the February 2027 fiscal period.The disposition, scheduled to close on Dec. 1, involves a property leased to retailer Edison and has no broker or disclosed purchaser due to confidentiality.The REIT decided to sell the asset to maximize total returns by replacing it with properties offering better long-term profitability and growth potential from its expanding acquisition pipeline.
TYO:8953
