Aozora to raise 50b yen from Japan banks for real estate funds

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.