Mitsubishi Real Estate Buys Tokyo Properties From Lone Star

Mitsubishi Estate Co,. a top-ranked real estate company, acquired an office building and other property in central Tokyo's Akasaka area from US investment fund Lone Star, according to Nikkei. The deal has been valued at roughly 90 billion yen. The earthquake has cast uncertainty on prospects for the office building sector, but Mitsubishi Estate expects that owning property in prime Tokyo locations will help it increase its earnings over the medium and long term.