United Urban Investment Corporation (TSE:8960) agreed to acquire additional 10% stake in Trust beneficial interest in Osaka Bay Tower for ¥2.6 billion on February 20, 2024. Prior to the transaction, United Urban Investment Corporation (TSE:8960) already holds 10% in Osaka Bay Tower. The parties will enter into sale and purchase agreement on March 1, 2024.

The consideration will be funded from cash on hand of United Urban. Osaka Bay Tower reports yearly rental revenues of ¥1.6 billion. The transaction is expected to close on March 28, 2024.