MPACT sells 2 Japan office buildings for $78.7m

After sale, MPACT’s portfolio will comprise 15 commercial properties across Asia.

Mapletree Pan Asia Commercial Trust (MPACT), through its subsidiary Tsubaki Tokutei Mokuteki Kaisha, sold two office buildings in Japan to two unnamed parties.

ABAS Shin-Yokohama (ASY), a nine-storey office building located in Yokohama City, will be sold at a sale price of $30m (JPY3,330m), and TS Ikebukuro Building (TSI), a single-tenanted nine-storey office building in Tokyo, will be sold at a sale price of $48.7m (JPY5,400m).

The combined divestment price amounts to $78.7m (JPY8,730m), representing a 1.7% premium (in local currency terms) against the aggregate purchase price of $104.1m (JPY8,580m). The divestment consideration for both properties will be satisfied wholly in cash.

According to MPACT’s bourse filing on 23 July, the proposed divestments reflect its ongoing portfolio reconstitution efforts and demonstrate its disciplined approach to portfolio and capital management. The divestment proceeds will be directed towards debt reduction to further enhance MPACT’s balance sheet resilience.

The divestments are scheduled for completion by end-August FY25/26 and upon completion of the divestments, MPACT’s portfolio will comprise 15 quality commercial properties located across the five key gateway markets of Asia.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia