Latest news with #Gajoen
Yahoo
27-01-2025
- Business
- Yahoo
Brookfield closes two Japan real estate deals for $1.6 billion
TOKYO (Reuters) - Canadian investment firm Brookfield Asset Management said on Monday it has closed two real-estate investments in Japan worth a combined $1.6 billion. The investments comprise a stake in Tokyo's landmark Gajoen complex, a mixed-use office, retail and luxury hotel, and a 1 million square foot (93,000 square metre) plot in the outskirts of Nagoya, which will be developed into a logistics warehouse, Brookfield said in a release. It is the latest large-scale real-estate investment in Japan, as a weaker yen and availability of cheap financing have ramped up foreign investor interest in the sector. Gajoen, located in Meguro, Tokyo, is owned by the Chinese sovereign wealth fund China Investment Corp (CIC), which bought the property in 2015. Brookfield did not state the size of its stake in Gajoen. Sign in to access your portfolio
Reuters
27-01-2025
- Business
- Reuters
Brookfield closes two Japan real estate deals for $1.6 billion
TOKYO, Jan 27 (Reuters) - Canadian investment firm Brookfield Asset Management ( opens new tab said on Monday it has closed two real-estate investments in Japan worth a combined $1.6 billion. The investments comprise a stake in Tokyo's landmark Gajoen complex, a mixed-use office, retail and luxury hotel, and a 1 million square foot (93,000 square metre) plot in the outskirts of Nagoya, which will be developed into a logistics warehouse, Brookfield said in a release. It is the latest large-scale real-estate investment in Japan, as a weaker yen and availability of cheap financing have ramped up foreign investor interest in the sector. Gajoen, located in Meguro, Tokyo, is owned by the Chinese sovereign wealth fund China Investment Corp ( (CIC), which bought the property in 2015. Brookfield did not state the size of its stake in Gajoen.
Japan Times
27-01-2025
- Business
- Japan Times
Brookfield seeks to buy more property in Japan after $1.6 billion in deals
Brookfield Asset Management said it plans to ramp up real estate investments in Japan after buying a stake in a landmark Tokyo hotel and a large plot of land for logistics development in deals worth a combined $1.6 billion (¥249 billion). The Canadian investment firm took a stake in Gajoen, a mixed-use complex in the Japanese capital owned by China Investment and LaSalle Investment Management. It also acquired 1 million square feet (92,903 square meters) of land near Japan's manufacturing heartland of Nagoya to develop a large warehouse. The two deals closed at the end of 2024. The investments underscore a trend of increased foreign investor activity in Japanese real estate in recent years, buoyed by the weak yen and cheap financing. The return of inflation after three decades and a tourism boom in the country have also made certain assets like hotels and apartments more attractive.
Yahoo
27-01-2025
- Business
- Yahoo
Brookfield Seeks to Buy More Japan Property After $1.6 Billion in Deals
(Bloomberg) -- Brookfield Asset Management Ltd. said it plans to ramp up real estate investments in Japan after buying a stake in a landmark Tokyo hotel and a large plot of land for logistics development in deals worth a combined $1.6 billion. What Happened to Hanging Out on the Street? Vienna Embraces Heat Pumps to Ditch Russian Gas Billionaire Developer Caruso Slams LA Leadership Over Wildfires How Sanctuary Cities Are Preparing for Another Showdown With Trump Hoboken PATH Station Will Close for Almost a Month on Jan. 30 The Canadian investment firm took a stake in Gajoen, a mixed-use complex in the Japanese capital owned by China Investment Corp. and LaSalle Investment Management. It also acquired 1 million square feet of land near Japan's manufacturing heartland of Nagoya to develop a large warehouse. The two deals closed at the end of 2024. The investments underscore a trend of increased foreign investor activity in Japanese real estate in recent years, buoyed by the weak yen and cheap financing. The return of inflation after three decades and a tourism boom in the country have also made certain assets like hotels and apartments more attractive. 'You're going to see us doing a lot more in Japan,' Andrew Burych, a managing director and head of East Asia real estate for Brookfield, said in an interview. 'Our pipeline is pretty good going into 2025.' Brookfield is likely to spend more on deals in the country this year than the $1.6 billion it invested in 2024, Burych said. The firm will focus on logistics, mixed-use complexes and hospitality assets. Burych added that he also saw opportunities to do transactions with public Japanese real estate investment trusts that are trading below their net asset value, as well as private REITS whose shareholders might have liquidity needs. The volume of investment in Japanese real estate jumped 40% in the first nine months of 2024 from a year earlier, and was estimated to reach ¥5 trillion ($32 billion) for the year, according to Jones Lang LaSalle Inc. It expects further activity by both domestic and international investors in 2025. Brookfield has four real estate investment professionals in its Tokyo office, and people in other locations such as China and Singapore working on Japan deals, Burych said. The Gajoen purchase was done on Brookfield's balance sheet, while the acquisition of land in the Nagoya area is being made through Brookfield's global opportunistic strategy, according to the $1 trillion asset manager. Brookfield will take over asset management of Gajoen, and plans to invest in renovating public spaces in the hotel and offices. It declined to disclose its ownership stake and the co-owners of the property. CIC declined to comment. LaSalle didn't respond to a request for comment. CIC and LaSalle bought the Gajoen complex in 2015 from Mori Trust. It contains a 60-suite room luxury hotel with banquet halls and restaurants, and two office towers — the 19-floor Arco Tower and 16-floor Arco Tower Annex. The hotel is known for its Japanese gardens and use as a popular wedding location. It contains a historic 100-step stairway and several art-filled rooms that are marked as a cultural property by the Tokyo Metropolitan Government. Amazon Japan is the main tenant in the office buildings. Brookfield will also spend about $300 million to develop a 2.4 million square-foot warehouse on the Nagoya area land it purchased, which is located near a highway between Japan's two major metropolitan areas of Tokyo and Osaka. --With assistance from Zhang Dingmin. Forget Factories, Small US Towns Want Buc-ee's Gas Stations The CDC Won't Give the Public a Full Picture of Fertility Treatment Risks Elon Musk's Inaugural Highs (and Lows) How Kendrick Lamar Turned Beef With Drake Into Music Superstardom Greek Police Say Eggs Were Stolen from IVF Clinic Patients ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
27-01-2025
- Business
- Bloomberg
Brookfield Seeks to Buy More Japan Property After $1.6 Billion in Deals
Brookfield Asset Management Ltd. said it plans to ramp up real estate investments in Japan after buying a stake in a landmark Tokyo hotel and a large plot of land for logistics development in deals worth a combined $1.6 billion. The Canadian investment firm took a stake in Gajoen, a mixed-use complex in the Japanese capital owned by China Investment Corp. and LaSalle Investment Management. It also acquired 1 million square feet of land near Japan's manufacturing heartland of Nagoya to develop a large warehouse. The two deals closed at the end of 2024.
