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M'bishi Estate interested in buying Japanese REIT 본문

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M'bishi Estate interested in buying Japanese REIT

Korea M&A 2009. 6. 26. 21:32

 Mitsubishi Estate Co (8802.T: Quote, Profile, Research), Japan's second-biggest developer, is interested in buying a Real Estate Investment Trust (REIT) in Japan and preparing to launch a property investment fund in the United States, the company's president said on Wednesday.

Mitsubishi Estate President and CEO Keiji Kimura also said the company is keen to buy a real estate investment management company overseas as it aims to raise its global profile.

Mitsubishi Estate already sponsors Japan Real Estate Investment Corp (8952.T: Quote, Profile, Research) which invests only in office buildings. But Kimura said "it would make sense to own (sponsor) another one," that invests in commercial or residential properties.

"It could be M&A, or we might launch an original one," Kimura told Reuters in an interview.

Kimura said Japan's residential market, which has been in a slump, would probably not fully recover until the latter half of the year to March 2011.

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