Lone Star exits Tokyo retail property to Hulic
Lone Star's sale of YODOBASHI MULTI Media Kichijoji, a commercial complex building in a west Tokyo suburb, to real estate investment firm Hulic is no ordinary transaction. Hulic is paying an estimated JPY30 billion ($381 million) for the asset but is already preparing to offload it.
The firm has no plans for improvements with a view to boosting the sell-on price. “We will not seek to add value to the current asset because we are just holding it for next acquirer,” a Hulic executive...
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