Phoenix saw the investment opportunity in the Sapporo office
market, in light of the continuously growing strong demand and
limited supply of new office.
This new 8-storey Grade-A office is strategically situated in
Sapporo, Hokkaido. Sapporo is the fifth largest city of Japan by
population and is one of the major business hubs in Japan serving
as a key gateway city for Northern Japan.
Given its proximity to Sapporo Station and the potential growth in
Sapporo due to the prime office shortage, Phoenix saw the
potential in this property and structured forward purchase of the
development by an experienced developer and built to Phoenix’s
specifications. The Sale closed well ahead of Phoenix’s original
exit schedule, highlighting the strong demand for core office
assets in Sapporo.
