Rubicon settles Shin Musashi buy

Rubicon Japan Trust has settled on the purchase of the ¥1.2 billion ($A13.34 million) Shin Musashi Plaza located in Kumamoto, Kyushu.

Shin Musashi Plaza is part of a larger acquisition portfolio being acquired by RJT for ¥45.00 billion ($A499.33 million).

Upon settlement of the remaining two assets in the acquisition portfolio, which is expected to occur in March 2007, RJT will have a total of approximately ¥69.9 billion ($A775.6 million) in Japanese real estate under management.

Australian Property Journal