Advance Residence Investment Sells RESIDIA Tokugawa for 973 Million Yen, Booking 311 Million Yen Gain

MT Newswires Live06-24 17:35

Advance Residence Investment (TYO:3269) through its asset manager Itochu REIT Management, has decided to dispose of the RESIDIA Tokugawa property for 973 million yen, effective July 7.

The sale price exceeds the book value of 661 million yen, generating an estimated gain of approximately 311 million yen, or 273 million yen after associated costs, according to a Tokyo bourse filing on Wednesday.

The buyer is MIRAI Asset, with a broker involved in the transaction.

Proceeds from the sale will be used for future property acquisitions, debt repayment, and other initiatives to enhance unitholder returns, as part of the REIT's strategy to optimize capital efficiency.

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