Daiwa House REIT Investment Secures Lower Purchase Price for Funabashi Residential Property

MT Newswires Live

Feb 20

Daiwa House REIT Investment (TYO:8984) has secured a lower purchase price for the Castalia Nishi Funabashi II residential property, acquiring it for 2.66 billion yen from 2.73 billion yen initially.

The price adjustment follows the finalization of construction details, including lower sewage discharge charges and changes to building specifications, according to its Tokyo bourse filing on Friday.

Despite the reduced acquisition cost, the property's appraisal value has increased to 2.95 billion yen, up from 2.83 billion yen in the previous estimate earlier revealed in November 2024.

The transaction is scheduled to close on Feb. 27.

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