19 Jan '17, 9am

Straits Trading to acquire Japan property for S$11.6m | Overseas | PropertyGuru.com.sg

The Straits Trading Company on Wednesday (18 January) unveiled plans to acquire the rights to a freehold rental residential property in Osaka, Japan for 925 million yen (S$11.6 million). This comes as the investment firm agreed to buy two companies, Nikko AM Japan Property I-I and Nikko AM Japan Property I-II, which own 100 percent trust beneficiary interest in the Japanese property. Dubbed Splendid Namba, the 14-storey property has a net lettable area of about 32,214 sq ft and comprises 120 apartments. It was completed in March 2015 and has an occupancy rate of 95 percent as at end-December 2016. Situated near the metro line, the property is easily accessible to the prime shopping area of Shinsaibashi and the Namba business district. In a statement, Straits Trading revealed that the consideration will be funded by bank borrowings and internal resources. “The transaction p...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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