The acquisition of an office building in Tokyo brings the real estate investments of Commerz Real on behalf of its hausInvest global open-ended real estate fund in Asia up to a total volume of approximately one billion euros. The Asian portfolio of hausInvest global, a globally investing fund, includes office properties and shopping centres in Japan, South Korea, and Singapore.

“For us, the Asian-Pacific region counts among the most important target markets, together with Europe and the American continent,” said Hans-Joachim Kühl, Member of the Board at Commerz Real, and in charge of real estate acquisitions. “The developed national economies in this region are marked by a fast growth dynamic and sound investment parameters. Since our market entry in 2006, we invested approximately 1 billion euros so far. Meanwhile, we gathered a comprehensive market know-how that has become the basis for our local commitments there."

The most recently acquired property is the “da Vinci Kamiyacho” office building, located in Tokyo. Following the previous purchase of two shopping centres, Commerz Real has thereby tapped into the Japanese office market as well. The total investment volume equals roughly 106 million euros. The property was sold by DA Office Investment Corporation, a leading REIT listed at the Tokyo Stock Exchange.

The eleven-storey office property covers a gross lettable floor space of 7,666 m² and comes with 58 parking spaces. The building’s tenants include renowned Japanese and international companies from the industrial and financial sectors. The estate’s name reconnects to its location in the eponymous district of Kamiyacho, which is one of Tokyo’s central districts. Owing to its proximity to Tokyo Station – one of the city’s most important train depots – as well as the dense network of bus and railway lines, the building is characterised by easy access to public transportation and excellent connections to Tokyo’s main airport Narita.

source : Commerz Real