Brookfield Asset Management, a Canadian investment firm, announced on Monday the completion of two real estate investments in Japan, totaling $1.6 billion.
The transactions include a stake in the Gajoen complex in Tokyo, a mixed-use property featuring office spaces, retail outlets, and a luxury hotel. Additionally, Brookfield acquired a 1 million square foot (93,000 square meter) plot near Nagoya, intended for development into a logistics warehouse, the company stated in a release.
This move reflects growing foreign investment interest in Japan’s real estate sector, fueled by a depreciating yen and favorable financing conditions.
The Gajoen complex, situated in Meguro, Tokyo, is owned by China Investment Corporation (CIC), a sovereign wealth fund that acquired the property in 2015. Brookfield has not disclosed the size of its stake in the complex.
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By Proptechbuzz
By Ravi Kumar
