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Straits Trading acquires Tokyo residential property for $5.4 mil

Property

Straits Trading acquires Tokyo residential property for $5.4 mil

Michelle Zhu Published on Fri, Sep 29, 2017 / 6:00 PM GMT+8

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SINGAPORE (Sept 29): Straits Trading Company is acquiring a freehold six-storey rental residential apartment in Tokyo, Japan, for about $5.4 million which is to be funded by internal resources and bank borrowings.

Transacted through subsidiary Straits Real Estate, the property has a net lettable area (NLA) of 2,000 sq m comprising 96 apartment units with an occupancy rate of 99% as at end-August.

The property was completed in May 1991 and the façade and lobby areas of the property were refurbished in 2015.

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