Japanese REIT Pays $49M For Tokyo Office Building

Law360, New York (December 2, 2011, 12:58 PM EST) -- Japanese real estate investment trust Nomura Real Estate Office Fund Inc. has agreed to purchase a 7,800-square-foot office building in Tokyo from a real estate development affiliate for 3.8 billion yen ($48.7 million) in cash on hand, the trust said Friday.

The deal is expected to close Jan. 13 and is the latest project in Nomura's strategy of acquiring large and midsize office buildings in growing Japanese business districts.

The vacant eight-story building, called PMO Akihabara for its proximity to the Akihabara transit station, has easy...
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