TOKYO-In separate deals, Institutional players bought into two CBD office buildings here for a combined $150 million. Singapore-based CapitalLand sold its interest in 11-floors of the 30-story Shinjuku Square Tower for $91 million and a US investment fund sold the mixed-use TK Shinbashi Building for $50 million, according to CB Richard Ellis Tokyo Investment Properties, which brokered both transactions.Shinjuku Square Tower is a 10-year-old office building located in Shinjuku, Tokyo’s prime business district. It has a net lettable area of 312,200 sf. The building has floor plates of 10,290 sf, which are considered large by Japan standards. The building is master leased to Shinjuku Square Tower Management Co. Ltd., which subleases the building to 18 tenants.The buyer of CapitalLand’s interest in Shinjuku Square Tower was Japan Prime Realty Investment Corp. The REIT’s interest is in the 19th through 29th floors, which total about 119,500 sf. NTUC Income Insurance Co-operative Limited owns the remaining 50% interest in the asset.The buyer of TK Shinbashi, a multi-level retail and office building, is Germany-based DEKA Immobilien Investment. This acquisition represents DEKA’s third investment property in Tokyo. DEKA entered the Tokyo market well ahead of the other German open-ended funds, acquiring an office asset in Shibuya during 2002.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.