TOKYO (Reuters) – Canadian investment firm Brookfield Assets (TSX:) said on Monday it has closed $1.6 billion worth of real estate investments in Japan.
The investments include a stake in Tokyo’s Gajoen complex, a mixed-use office, a retail and luxury hotel, and a 1 million square foot (93,000 square metre) plot on the outskirts of Nagoya, which will be developed into a logistics warehouse, Brookfield said in a statement.
This is the latest large-scale real estate investment in Japan, as a weaker yen and availability of cheap financing have increased foreign investor interest in the sector.
Gajoen, located in Meguro, Tokyo, is owned by Chinese wealth fund China Investment Corp (CIC), which purchased the property in 2015.
Brookfield did not say the size of its stake in Gajoen.
