News, Events and Media

    1. 2011-05-24

      GE Capital Real Estate and Aberdeen Asset Management launch co-investment vehicle

      Foreign Investors

      GE Capital Real Estate and Aberdeen Asset Management announced the launch of a $400 million co-investment vehicle for the Tokyo multifamily sector. “This is another clear sign of our continuing confidence in the Japan market,” explained Mark Norbom, President & CEO of GE Japan.

      http://www.gecapitalrealestate.com/en/success_stories/capital_efficiency/japan_resi.html

    2. 2011-05-18

      J-REP almost agreed with Axis Global Industrial REIT on selling their logistics in Japan

      Foreign Investors

      J-REP, a Japanese logistics investment company, announced that they almost agreed with Malaysia’s Axis Global Industrial REIT on selling their 12 logistics in Japan. The REIT aims to be listed on Malaysia’s stock exchange in the second quarter of this year, in what would be the world’s largest sharia real estate investment trust.

    3. 2011-05-16

      AXA entering the real estate debt market

      Foreign Investors, Ganbaro Nippon

      AXA Real Estate announced that they launched Japanese commercial real estate debt investment vehicle, raising JPY 15 billion at the first close. They commented, “Despite the recent tragic events, AXA Real Estate remains a long term believer in the Japanese economy and the underlying fundamentals of its real estate market.”

      Press Release (PDF 82.9KB)

    4. 2011-05-16

      Foreign Investors shy while domestic investors close significant transactions

      Foreign Investors, Ganbaro Nippon

      According to CB Richard Ellis Investment View April Edition, most domestic investors have shown a desire to return to business as normal and have continued to pursue deals in the weeks following the disaster with some significant transactions closing. Foreign investors and in particular those without an office in Japan, have become more cautious and are waiting to see what the implications of the quake are.

    5. 2011-04-04

      J-REP secured loan from ING Bank N.V

      Foreign Investors

      J-REP, Japanese logistics operator sponsored by Australian Macquarie Group and Goodman Group, announced that they secured JPY 1.9 billion loan from ING Bank N.V. for the construction of a logistics in Greater Tokyo.
      http://www.jrep.co.jp/moriya/eng/

    6. 2011-03-18

      MPC Capital AG stops placement of real estate fund Sachwert Rendite Fonds Japan

      Foreign Investors, Ganbaro Nippon

      MPC Capital AG, a Hamburg based arranger of closed end funds announced that the firm will stop the placement of its Japan real estate fund Sachwert Rendite Fonds Japan. The fund that MPC has been placing since August 2008 is invested with about Euro 170 Million in 9 mainly regional properties used as shopping, sports and entertainment facilities. MPC gives the uncertainty in Japan after the earthquake as a reason why they decided to stop the further placement now.

    7. 2011-03-17

      Union Investment Real Estate GmbH temporarily suspended redemption and issue of units for UniImmo: Global fund

      Foreign Investors, Ganbaro Nippon

      Union Investment Real Estate GmbH announced that they had temporarily suspended redemption and issue of units for UniImmo: Global fund, because they judged they cannot currently assess the impact of the earthquake and the nuclear accident in eastern Japan. The properties the fund owns in Japan account for 14% of its total property asset and are all locate in Tokyo. The properties suffered no significant physical damage.

    8. 2011-02-24

      German Aareal Bank provided a loan to Westmont Hospitality Group

      Foreign Investors

      Nikkei RE reported that the German Aareal Bank provided a loan to Westmont Hospitality Group, a major U.S. hotel investor and operator, for the acquisition of a 3-year-old 5,000 sqm hotel property in central Tokyo (Kabukicho, Shinjuku Ward).

    9. 2011-01-20

      Angelo Gordon acquired office building in central Tokyo

      Foreign Investors

      Nikkei RE reported that Angelo Gordon, a major US-based hedge fund manager, acquired a 13,000 sqm 21-year-old office building in central Tokyo (Akasaka, Minato Ward).

    10. 2010-12-17

      Spring Investment established real estate fund

      Foreign Investors

      Nikkei RE reported that Spring Investment who became independent from Australia’s Babcock & Brown through an MBO established a JPY 8 billion real estate fund named the High Yield Fund.

    11. 2010-12-15

      Credit Agricole Group acquired residential portfolio

      Foreign Investors

      Nikkei RE reported that Credit Agricole Group acquired JPY 20 billion residential portfolio from Retec Consultants, an emerging developer. The portfolio consists of 11 properties in Tokyo and Yokohama.

    12. 2010-12-07

      RREEF aquires retail/office building in Tokyo

      Foreign Investors

      Nikkei RE reports about the acquisition of a retail/office building in Tokyo, Shibuya (Dogenzaka) by RREEF, the real estate management arm of the Deutsche Bank Group, who bought the property for its open end fund Grundbesitz Global. The price is said to be about Euro 66 million (JPY 7.3 billion). This is the third RREEF acquisition of Grundbesitz Global during 2010. The open end fund which is said to have raised Euro 1.5 billion in equity during 2010 has purchased about Euro 750 million worth of assets in Asia Pacific during this year.

    13. 2010-11-20

      Trinity Investments going to acquire flagship store of Ralph Lauren in Tokyo

      Foreign Investors

      Nikkei RE reported that Trinity Investments, a US-based real estate investment company, would acquire the flagship store of Ralph Lauren in Tokyo together with Secured Capital Japan and Orix Real Estate. The price would be JPY 31 billion which shows a 4-plus-% range of NOI cap rate. Deka Real Estate Lending and other banks would provide loans of up to 77% Loan-to-Price.

    14. 2010-11-04

      Secured Capital Japan would substantially become a subsidiary of Pacific Alliance Group

      Foreign Investors

      Nikkei reported that Secured Capital Japan, a major listed real estate fund manager, would substantially become a subsidiary of Pacific Alliance Group, a Hong Kong-based investment company and the major shareholder of Secured Capital Japan, through a tender offer bid. Secured Capital Japan was established in 1997 as an arm of US-based real estate investment firm Eastdil Secured and has approximately JPY 750 billion (US$ 9 billion) in assets under management. Pacific Alliance Group, who has been investing mainly in greater China, manages a total of US$ 4 billion in assets through hedge fund and distressed, private equity and real estate.

    15. 2010-10-27

      Elliott Management acquired 2 retail buildings in central Tokyo

      Foreign Investors

      Nikkei RE reported that Elliott Management, a US-based fund management firm, acquired 2 retail buildings in major shopping areas of central Tokyo (Omotesando, Minato Ward and Shinjuku Street, Shinjuku Ward) from a Japanese emerging real estate company. Omotesando building has 1,300 sqm of total floor area and is 33 years old and Shinjuku 1,500 sqm and 27 years old.

    16. 2010-10-20

      MSREF managed to refinance a loan for hotel portfolio

      Foreign Investors

      Nikkei RE reported that MSREF managed to refinance a loan for a gigantic nationwide hotel portfolio by adding additional equity. They bought the portfolio for JPY 281.3 billion with JPY 225 billion of debt in 2007.

    17. 2010-10-18

      Grundbesitz global invests €170mn in Japan

      Foreign Investors

      According to a report by Thomas Daily, RREEF Investment GmbH has acquired a retail property in Osaka for its open-ended fund grundbesitz global. The building in the central business district Shinsaibashi offers about 4,000 sqm of rental space on six stories and was completes in August 2010. The tenant, Clothing retailer Uniqlo, will use the property as its flagship store. According to the article RREEF purchased the building at approximately €170mn.

    18. 2010-10-18

      South Korean sponsored fund acquires office building in Tokyo

      Foreign Investors

      Nikkei RE reported that a fund sponsored by South Korean pension fund and financial institution acquires an office building in Tokyo and retail building in Yokohama for around JPY 10 billion in all. The 38 year-old Tokyo office building has 9,300 sqm of floor area and is located at the northern edge of CBD (Bunkyo Ward). The 6,000 sqm Yokohama retail building full of restaurants is 12 years old and in a subcenter of Yokohama (Shin-Yokohama).

    19. 2010-10-15

      Macquarie Goodman Japan announced their commencement of tender offer for shares of J-REP

      Foreign Investors

      Macquarie Goodman Japan announced their commencement of tender offer for shares of J-REP, a listed asset manager of logistics property. Macquarie Goodman Japan is a 50/50 joint venture between Macquarie Group, an Australian financial services firm, and Goodman Group, an Australian logistics real estate company, and has already had a 51.7% equity stake in J-REP.
      http://www.jrep.co.jp/news/20101015-release.html

    20. 2010-10-02

      Global Logistic Properties seems to be planning to list on Singapore Exchange

      Foreign Investors

      Nikkei reported that Global Logistic Properties, a subsidiary of Government of Singapore Investment Corporation investing in logistics in Japan and China, seems to be planning to list on Singapore Exchange to invest more and reduce their debt. The company now has around 300 facilities evaluated at US$ 8.9 billion.

    21. 2010-09-09

      Morgan Stanley acquired three office properties

      Foreign Investors

      Nikkei RE reports that Morgan Stanley acquired three office properties in outer Tokyo CBD (Takanawa, Hatagaya and Omiya) from Simplex. Simplex is a Japanese asset management firm under reconstruction. The company, which is under control of Goldman Sachs and Aetos Capital, has been apparently reducing its assets since it was delisted in March 2008.

    22. 2010-09-08

      Kennedy Wilson established real estate partnership with a subsidiary of Fairfax Financial

      Foreign Investors

      Kennedy Wilson, a US-based real estate investment company, announced that they established real estate partnership with a subsidiary of Fairfax Financial, a Canadian insurance firm. They completed their first investment, buying a 65% shares of a Japanese residential apartment company with US$ 600 million in residential assets. Kennedy Wilson previously owned the other 35% of the company.

      http://www.kennedywilson.com/news/kennedy-wilson-and-fairfax-financial-establish-278m-real-estate-partne

    23. 2010-09-01

      ProLogis completed logistics in Osaka

      Foreign Investors

      ProLogis announced that they completed a 64,000 sqm logistics in Osaka. The facility has been lease in its entirety to Senko an Osaka based logistic company.

    24. 2010-08-30

      ING Real Estate Investment Management secured first tenant for gigantic logistics

      Foreign Investors

      Nikkei RE reports that ING Real Estate Investment Management finally secured first tenant for 130,000 sqm gigantic logistics in greater Tokyo (Yokohama). The building was completed in April this year. ING took over the property from New City Corporation, a real estate management company which had been founded by former CBRE Investors employee and went bankrupt last year.

    25. 2010-08-27

      LaSalle Investment Management acquired residential properties

      Foreign Investors

      NIKKEI RE reports that LaSalle Investment Management acquired 4 large-scale residential properties from DaVinci. Each of the properties has a rentable floor space of over 10.000 sqm. Three of which are in Tokyo (Shinjuku-ward, Koto-ward and Sumida-ward) and the other in greater Osaka (Kobe).

    26. 2010-08-23

      LaSalle Investment Management acquires a 33,000 sqm outlet mall

      Foreign Investors

      Nikkei RE reports that LaSalle Investment Management acquires a 33,000 sqm outlet mall in the north of greater Tokyo (Tochigi). This is the second investment of LaSalle in an outlet mall in Japan. LaSalle will incorporate the outlet mall in LaSalle Asia Opportunity Fund III. The company will continue to actively expand its investment in commercial facilities in Japan.

    27. 2010-08-19

      Retail property REIT sold 18 office and residential

      Foreign Investors

      A retail property REIT sponsored by Mitsubishi Trading Company announced that they sold 18 office and residential properties they had taken over through M&A of LaSalle REIT. The investor is said to be Elliot Management, a US investment management company.

      http://www.jrf-reit.com/english/index.html

    28. 2010-08-03

      AM Alpha acquires a Class A office building

      Foreign Investors

      AM Alpha, a Munich based real estate investment company acquires a Class A office building in central Tokyo (Aoyama). As reported by Nikkei RE on July 28, 2010. The 9-story Renai Aoyama Building faces Aoyama Dori and provides a total floor space of 6411 sqm. Aoyama street is home to many brand name retail stores and headquarter buildings of Oracle Japan and Honda Motors.

    29. 2010-08-03

      US major investor Blackstone Group will acquire the whole commercial mortgages owned by Morgan Stanley Japan

      Foreign Investors

      According to Nikkei (July 22, 2010), the US major investor Blackstone Group will acquire the whole commercial mortgages owned by Morgan Stanley Japan. There are around JPY 100 billion at face value with around 30 collaterals mainly located in the greater Tokyo.

    30. 2010-08-03

      Singapore-related fund buys an office building in northern Tokyo

      Foreign Investors

      A Singapore-related fund buys an office building in northern Tokyo (Bunkyo Ward) at around JPY 7 billion according to a July 12, 2010 report by Nikkei RE.

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