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In 2007, MMP REIT acquired seven properties in
Tokyo, Japan. Six of these properties, namely Roppongi
Primo, Roppongi Terzo, Holon L, Harajyuku Secondo,
Daikanyama and Nakameguro were acquired on
30 May 2007 at a purchase price of JPY 8.73 billion
(S$109.1 million4). The seventh property, Ebisu Fort,
was acquired on 26 September 2007 at a purchase price
of JPY 5.7 billion (S$71.3 million4).
All seven properties are contemporarily designed
commercial buildings located in the prime Tokyo areas
of Aoyama, Roppongi, Harajyuku, Meguro and Ebisu
and within five minutes’ walk from the nearest subway
station. Ebisu Fort is a new property that was completed
in September 2007. All the other properties are
relatively new, having been completed between August
2004 and September 2005. All seven properties are also
fully occupied through a combination of standard leases
and master leases.
JAPAN PROPERTIES
4 Based on exchange rate of JPY 77.89 : S$1 at acquisition
32%
Long Term
Master
Leases
41%
Medium Term
Master
Lease
27%
Non-master
Leases
Clockwise from left: Ebisu Fort,
Roppongi Terzo, Daikanyama