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
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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.
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