Euromoney Liquid real estate March 2007
Singapore property group CapitaLand continued its aggressive regional expansion of last year into 2007 when it announced in February two investments in the Japanese Reit market.
It has agreed to invest ¥3.23 billion ($27 million) for a 13% stake in BLife Investment Corporation, a Japanese Reit listed on the Tokyo Stock Exchange and specializing in residential assets. CapitaLand will also acquire a 33.4% interest in Morimoto Asset Management, the manager of BLife Reit, through CapitaLand Japan, which will provide fund management expertise and an asset pipeline.
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