Japan's Mitsubishi Estate Co said it bought two office buildings and a hotel in central Tokyo from U.S. investment fund Lone Star in a deal media reports said was worth $1.1 billion. The Japanese developer expects premier buildings with quake-resistant construction to continue attracting tenants and yield stable profits despite likely damage to the property market from economic stagnation in the wake of this month's devastating earthquake and tsunami in northeast Japan. Mitsubishi Estate purchased the 18-storey west wing and 24-storey east wing of the Kokusai-Shin Akasaka complex and an adjacent hotel on March 14. Total office floor space is roughly 80,000 square meters, Mitsubishi Estate spokesman Ryuichiro Funo said.
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