Commerz Real sells shopping centre in Japan to Tokyu Land Corporation
The Commerz Real open-ended real estate fund hausInvest has sold “Commercial Mall Hakata”; it had originally purchased the mall in 2007. The buyer of the shopping centre, which is located in Fukuoka, Japan, and which has a total lettable area of approx. 9,800 square metres, is the Japanese real estate company Tokyu Land Corporation. It was agreed that confidentiality be maintained on the purchase price.
We are in the process of strategically optimising our portfolio and have exploited the high level of demand to attain a good result here for our investors.
Andreas Muschter, the Chief Executive Officer of Commerz Real
“Commercial Mall Hakata”, which is located close to Fukuoka city centre, was completed in 2005 and is fully leased to 22 retail traders. The real estate services provider Savills provided assistance with the transaction. Following the sale, the hausInvest fund no longer owns any real estate in Japan.