The latest deal will strengthen the group’s foothold in Greater Tokyo while increasing its total asset size in Japan to about $2.5 billion, according to the group.
SINGAPORE (Feb 20): CIMB Securities is reiterating its “add” recommendation on CapitaLand with an unchanged price target of $4.19, after the property developer’s recent announcement of some $620.1 million worth of acquisitions in Japan.
To recap, CapitaLand last Friday revealed it had acquired a portfolio of income-producing three office buildings and a mall, comprising two office buildings in Yokohama – Yokohama Blue Avenue and Sun Hamada; one office building in Tokyo – Kokugikan Front; and one shopping mall in Saitama – Seiyu & Sundrug.
