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Croesus Retail Trust Acquires Japanese Suburban Mall For $95.2 Million
Daily Bulletin | 29 September 2015

Croesus Retail Trust announced the acquisition of Torius Property in Fukuoka Prefecture, Japan, for $95.2 million, marking the group’s fourth acquisition since its IPO in May 2013.

Torius Property is an income-producing large-scale suburban retail mall located in Fukuoka Prefecture, Japan and is one of the largest retail facilities in Fukuoka City with few comparable retail facilities nearby. It has a high occupancy rate of 95.3 percent with a diversified mix of 145 tenants which includes whole sale goods retailer Costco Wholesale; 100 yen shop Daiso; and United Cinema.

The acquisition is believed to improve dividends per unit yield to unitholders and is seen as a strategic addition to the group’s portfolio, diversified across Japan. The acquisition brings a more balanced portfolio with stable income and sustainable growth, and is in alignment with the group’s investment strategy to increase exposure to Japan’s retail sector.

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