Thakral completes Japan commercial property divestment
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Thakral Corporation has completed the sale of its Yotsubashi Nakano Building in Osaka, Japan, for $46.2 million (JPY5.3 billion). This divestment generated approximately $6.4 million in cash flow and a one-off profit of around $2 million. CEO Inderbethal Singh Thakral stated that the proceeds will enhance the company's balance sheet and allow for reinvestment in new opportunities. The property, which has a land area of 806 sq. m. and a gross floor area of 7,925 sq. m., maintains a 100% occupancy rate. Thakral will retain exposure to the Osaka office market through its remaining properties.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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