Nippon Building Fund Acquires CONNECT SAPPORO, Disposes of NBF Sapporo Minami 2-Jo Building

Nippon Building Fund announced it has acquired CONNECT SAPPORO in Chuo-ku, Sapporo, while simultaneously selling the NBF Sapporo Minami 2-Jo Building. The acquisition price was JPY 13.8 billion, while the disposition price was JPY 1.9 billion.

The acquired property was completed in 2024, with 13 stories above ground and one below, totaling approx. 3,965 tsubo (approx. 131,100 sq. ft.) of gross floor area. It is a one-minute walk from Hosui Susukino Station on the Sapporo Subway Toho Line, and a two-minute underground walk from Odori Station.

The disposed property was completed in 1990, with nine stories above ground and two below, totaling approx. 2,465 tsubo (approx. 81,400 sq. ft.). It is a one-minute walk from Odori Station on the Sapporo Subway network.

Both transactions were executed under forward commitment contracts with termination clauses.

Key Facts – Acquisition Property

• Property Name: CONNECT SAPPORO

• Buyer: Nippon Building Fund Inc.

• Seller: Domestic GK (undisclosed)

• Transaction Price: JPY 13.8 billion

• Location: 8-10, 7-3 Minami 3-jo Nishi 1-chome, Chuo-ku, Sapporo, Hokkaido

• Nearest Station: 1-min walk to Hosui Susukino Station (Sapporo Subway Toho Line) / 2-min underground walk to Odori Station (Namboku, Tozai, Toho Lines)

• Completion: August 2024

• Number of Floors: 13F / B1

• Gross Floor Area: approx. 3,965 tsubo (approx. 131,100 sq. ft.)

Key Facts – Assignment Property

• Property Name: NBF Sapporo Minami 2-Jo Building

• Buyer: Domestic GK (undisclosed)

• Seller: Nippon Building Fund Inc.

• Transaction Price: JPY 1.9 billion

• Location: 18-1 Minami 2-jo Nishi 2-chome, Chuo-ku, Sapporo, Hokkaido

• Nearest Station: 1-min walk to Odori Station (Sapporo Subway network)

• Completion: November 1990

• Number of Floors: 9F / B2

• Gross Floor Area: approx. 2,465 tsubo (approx. 81,400 sq. ft.)