Sekisui House Reit (TYO:3309) plans to invest $299 million to acquire additional residential assets in Washington D.C.'s City Ridge complex, according to a Monday filing on the Tokyo Stock Exchange.
The acquisition, set to close on June 6, will be financed through the Reit's own funds.
Payments include $14.95 million on March 17 and May 1, with the remaining $269.1 million due at closing. The acquisition is expected to generate an appraisal NOI yield of 5.1% and a dividend yield of 3.6%.
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