Croesus Retail Trust buys Hiroshima mall for over $40m

Apr 9, 2016Updated May 26, 20251 min read

It is expected to provide stable income.

According to KGI Fraser, Croesus Retail Trust (CRT) is acquiring Fuji Grand Natalie, a suburban retail property in Hiroshima Prefecture.

It added, “The NPI yield of the acquisition is 6.3 percent using the purchase consideration of JPY3.3b. The total acquisition cost is JPY3.63b (S$44.3m), funded by equity using part of the net proceeds from the private placement raised earlier.”

In its report KGI Fraser cited steady income stream as the property “is master-leased to Fuji Co Ltd/Ehime (8278 JP) till end-March 2024 on a fixed monthly rent basis.”

RHB meanwhile described Fuji Grand Natalie as an income-producing large scale suburban retail mall in Hatsukaichi City with 100 percent level of occupancy.

The acquisition, according to RHB, will be accretive to CRT’s shareholders.

– See more at: https://sbr.com.sg/retail/more-news/croesus-retail-trust-buys-hiroshima-mall-over-40m#sthash.6auQqA0v.dpuf

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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