Aeon Hokkaido Corporation (TSE:7512) agreed to acquire AEON MALL Sapporo Naebo from Japan Metropolitan Fund Investment Corporation (TSE:8953) for ¥9.3 billion on July 20, 2022. The contract is expected to be completed on July 29, 2022. Japan Metropolitan Fund intends to enter into a written agreement with Aeon Hokkaido in respect of the transfer of the quasi co-ownership interest in the trust beneficiary right in the property on the date of the initial disposition.

The quasi co-ownership interest is expected to be transferred as 20% each on August 30, 2024, February 28, 2025 and August 29, 2025 and 40% on February 27, 2026. Japan Metropolitan Fund will allocate the cash from the disposition mainly to acquire properties in its asset replacement strategy.