M&G Real Estate sells Tokyo Frontier Shinjuku Tower after 23% net operating income growth
- M&G sold Frontier Shinjuku Tower, a 24-story mixed-use property in Tokyo’s Nishi-Shinjuku district.
- Net operating income rose 23% under its value-add strategy; the building has 298 apartments with retail and office space.
- Exit completed 15 months ahead of plan following asset enhancements; occupancy stayed strong with rental growth on new and renewed leases.
- M&G acquired the asset in December 2023; upgrades included amenity improvements, space repurposing, and sustainability measures.
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