Mori Trust REIT (TYO:8961) will acquire the remaining 9.155% stake it does not own in the Sendai MT Building from Mori Trust Co. for 1.56 billion yen, making it the sole owner of the property, according to a Thursday filing on the Tokyo Stock Exchange.
The acquisition, set for March 3, aligns with its growth strategy and reinvestment plans following asset sales.
The 18-story office building near JR Sendai Station benefits from stable occupancy and strong transport links. Mori Trust, its sponsor, will continue as master lessee, providing leasing support.
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