(NEW YORK, NY)— The Tokyo based investment firm Unizo Holdings Co. is shying away from the New York City market. Unizo currently owns two buildings in the city. 40 W. 25th St. in the Flatiron District and 635 Third Ave. Their 635 location is said to sell around $500 million.
The real estate company has gradually retreated from the market, last year Unizo sold three of their NYC office buildings for a total of $30 million, earlier this year they sold off yet another office building for $107.4 million.
According to Crain, the real estate firm is also seeking to buy offices in Washington, D.C including a 350,000 square foot property and a 300,00 square building at 1325 G. St.
Unizo has steadily become a target for NYC based investment groups, especially for Fortress. Last month the investment group made a $1.3 billion takeover deal to the foreign company, the decision is to be announced by October 1st.
The Japanese firm was originally formed in 1959 as the ‘Daisho Fudosan Company’ known for purchasing commercial properties such as hotels and shopping centers. The company first made its appearance in NYC’s real estate market back in 2013 when it bought the 400,000-square-foot office building at 440 Ninth Avenue.