Star Asia Investment (TYO:3468)is transferring the domestic real estate trust beneficial interest of Urban Park Imazato for 1.42 billion yen, with an expected gain-on-sale of 442 million yen, effective April 24.
This gain is intended to be distributed to unitholders, while the remaining proceeds will be considered for share buybacks or mezzanine loan debt investments, according to its Tokyo bourse filing last Friday.
The transfer aims to maximise unitholders' interests by realizing the property's value, although it has increasing restoration and repair costs due to its age.
Changes to the management status forecasts for the fiscal periods ending July 31, 2025, and Jan. 31, 2026, will be announced separately, read the filing.
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