Home Property AMB Property acquires 8 facilities in Japan

AMB Property acquires 8 facilities in Japan

Global development and real estate company AMB Property Corp. bought eight facilities in Japan. Financial terms weren't disclosed. The purchase of these facilities, totaling 926,000 square feet (86,000 square meter), expands the company's portfolio in Japan by 20 percent. All the new space is leased to distribution and logistics companies. San Francisco-based AMB bought 503,000 square feet in the Funabashi area, and also 177,000 square feet in the Kawasaki area, both near Tokyo. It also picked up land that can hold about 389,000 square feet of development in the Kawasaki area. The remaining 246,000 square feet of space is in Tokyo and Osaka. The company's investment fund AMB Japan Fund I bought the property. AMB also has property in the Nagoya area.

 

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