Japan Prime Realty buys Tokyo office

Tokyo-listed Japan Prime Realty Investment Corporation (JPR) has bought an office building and a retail property in Tokyo from its parent company for a combined JPY 9.55bn (US$89m). The real estate investment trust is managed Tokyo Realty Investment Management, a subsidiary of Japanese property group Tokyo Tatemono. The J-REIT also announced the sale of its Tokyo Tatemono Kyobashi office building in the Japanese capital to the parent company for JPY 5.8bn. The acquisition includes the KY Kojimachi Building in a central office district in Yotsuya/Kojimachi, offering 3,493 sq.m. of office lettable space, JPR said in an announcement.