CIC and LaSalle Investment Acquire Meguro Gajoen Complex
High-end Tokyo properties has attracted long-term institutional investors such as sovereign wealth funds, life insurance companies, pensions and real estate fund managers. A falling yen has made Japanese properties look inexpensive for foreign institutional investors. China Investment Corporation (CIC) and LaSalle Investment Management, through a joint venture, acquired the Meguro Gajoen complex in Tokyo for approximately ¥140 billion (US$ 1.2 billion) in late January. The CIC put up the majority of the capital. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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