News, Events and Media

1. 2011-03-18

   9.0-magnitude earthquake in Japan

   Ganbaro Nippon

   A 9.0-magnitude earthquake occurred off the northeastern coast of Japan on 11 March (Friday). The earthquake, with its epicenter in the Tohoku-Sanriku area, was the largest ever recorded in Japan.
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2. 2011-03-18

   MPC Capital AG stops placement of real estate fund Sachwert Rendite Fonds Japan

   Foreign Investors, Ganbaro Nippon

   MPC Capital AG, a Hamburg based arranger of closed end funds announced that the firm will stop the placement of its Japan real estate fund Sachwert Rendite Fonds Japan. The fund that MPC has been placing since August 2008 is invested with about Euro 170 Million in 9 mainly regional properties used as shopping, sports and entertainment facilities. MPC gives the uncertainty in Japan after the earthquake as a reason why they decided to stop the further placement now.

3. 2011-03-17

   Union Investment Real Estate GmbH temporarily suspended redemption and issue of units for UniImmo: Global fund

   Foreign Investors, Ganbaro Nippon

   Union Investment Real Estate GmbH announced that they had temporarily suspended redemption and issue of units for UniImmo: Global fund, because they judged they cannot currently assess the impact of the earthquake and the nuclear accident in eastern Japan. The properties the fund owns in Japan account for 14% of its total property asset and are all locate in Tokyo. The properties suffered no significant physical damage.

4. 2011-03-15

   United Urban cancelled the acquisition of 5 properties

   Ganbaro Nippon, J-Reits

   United Urban sponsored by Marubeni cancelled the acquisition of 5 properties for JPY 24.1 billion and JPY 65 billion of public share offering. They cancelled the PO because of their unstable share price after the earthquake. They planned to decide the issuing price the week after the accident. Accordingly, they cancelled the deals because they intended to use some of the money for the acquisitions.
   http://www.united-reit.co.jp/eng_cms/backnumber.html

5. 2011-03-15

   Nikkei Real Estate on the impacts of the earthquake

   Ganbaro Nippon, J-Reits

   Nikkei Real Estate organized the announcements about the impacts of the earthquake that hit northeast Japan on March 11 from each J-REIT as of the morning of March 14 and found out that there was no significant damage to the properties. By the end of March 14, all REITs finished announcing the status of their properties and no major physical damage was seen, though 3 retail properties owned by Mitsubishi UBS REIT stopped operation and some logistics properties owned by Mitsui Trading Company REIT continue to be investigated.

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