Aozora to raise 50b yen from Japan banks for real estate funds
The Tokyo bank, which targets 2-3% annual returns, says response from lenders is encouraging
Add BT as a preferred source
Tokyo
AOZORA Bank Ltd will set up funds for Japanese regional lenders to invest as much as 50 billion yen (S$571.5 million) in real estate, offering potentially higher returns than loans and government bonds.
The Tokyo-based bank plans to establish the funds over the three years ending March 2018 and raise 10 billion yen in the first 12 months, Ichiro Naritomi, president of a newly formed real estate investment advisory unit, said.
TRENDING NOW
Onitsuka Tiger pivots from Asics stripes to tap luxury market
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
CSE Global’s board clash: Who are Eugene Lai and Tan Chian Khong?
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
