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.

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