Hankyu Hanshin REIT Sells Remaining 20% Stake in Shiodome East Side Building for JPY 3.36 Billion

On June 30, 2025, Hankyu Hanshin REIT, Inc. announced the sale of its remaining 20% co-ownership interest in the Shiodome East Side Building, located in Tsukiji, Chuo-ku, Tokyo, to a domestic operating company for JPY 3.36 billion. The REIT had previously sold an 80% interest in the property for JPY 13.44 billion in March 2025, bringing the total disposition price to JPY 16.8 billion.

The property is a mid-rise office building situated a five-minute walk from Tsukiji-shijo Station on the Toei Oedo Line, with close proximity to Tokyo’s upscale Ginza district. Hankyu Hanshin REIT originally acquired the asset around its completion in 2008 and had held it for 18 years.

Although the property had long contributed stable income to the REIT’s portfolio, it was carrying latent losses at the time of sale. The decision to dispose of the asset was driven by a strategic intent to crystallize the unrealized loss early and to improve overall portfolio performance and stability through asset recycling.

Proceeds from the sale will be allocated toward the planned acquisition of the site for Friend Mart Ibaraki Hirata, a roadside retail facility in Osaka, for approximately JPY 2.44 billion.　

Key Facts

• Property Name: Shiodome East Side Building (20% Co-ownership Interest)

• Seller: Hankyu Hanshin REIT, Inc.

• Buyer: Undisclosed (Domestic Operating Company)

• Transaction Price: JPY 3.36 billion

• Location: 5-4-18 Tsukiji, Chuo-ku, Tokyo

• Nearest Stations: 5-minute walk to Toei Oedo Line Tsukiji Shijo Station; 7-minute walk to Shiodome Station

• Completion: September 2007

• Number of Floors: 8F

• Gross Floor Area: approx. 3,614 tsubo (approx. 119,400 sq. ft.)