TOKYO (Reuters) – Canadian funding agency Brookfield Asset Administration (TSX:) stated on Monday it has closed two real-estate investments in Japan value a mixed $1.6 billion.
The investments comprise a stake in Tokyo’s landmark Gajoen complicated, a mixed-use workplace, retail and luxurious lodge, and a 1 million sq. foot (93,000 sq. metre) plot within the outskirts of Nagoya, which might be developed right into a logistics warehouse, Brookfield stated in a launch.
It’s the newest large-scale real-estate funding in Japan, as a weaker yen and availability of low-cost financing have ramped up overseas investor curiosity within the sector.
Gajoen, positioned in Meguro, Tokyo, is owned by the Chinese language sovereign wealth fund China Funding Corp (CIC), which purchased the property in 2015.
Brookfield didn’t state the scale of its stake in Gajoen.
