Nippon Life plans Japan's largest Reit
Tokyo
NIPPON Life Insurance, which is seeking to gather about 300 billion yen (S$3.4 billion) for what would be Japan's largest private real estate investment trust (Reit), is targeting returns of 4 per cent as yields on government bonds languish near zero.
Nippon Life Realty Management Inc will seek investments from large Japanese investors such as pension funds and banks, said Takashi Tanizawa, president of the company that will manage the fund. The fund, which will open next year, is targeting assets of about 100 billion yen within the first year and about 300 billion yen over the mid-to-long term, larger than any existing offering of its kind, according to Nippon Life.
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