Star Asia Investment Corp. ( (JP:3468) ) has issued an announcement.
Star Asia Investment Corporation has announced the sale of its trust beneficial interest in the Urban Park Imazato property, a family-type residence in Osaka. The decision to sell was driven by the property’s age and anticipated future costs, despite its high occupancy rate and stable profits. The sale is expected to generate a gain-on-sale of approximately 442 million yen, which will be distributed to unitholders, with remaining proceeds potentially used for share buybacks or investments in mezzanine loan debt, aiming to enhance unitholder value.
More about Star Asia Investment Corp.
Star Asia Investment Corporation operates in the real estate investment trust (REIT) sector, focusing on managing and investing in domestic real estate assets. The company is involved in asset management through its subsidiary, Star Asia Investment Management Co., Ltd., and targets maximizing unitholder value through strategic asset management and transactions.
YTD Price Performance: 6.77%
Average Trading Volume: 8,388
Technical Sentiment Signal: Strong Sell
Current Market Cap: Yen143.8B
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