.jpg)
4 hours ago
1
Article content
BentallGreenOak will accelerate real estate investments and hiring in Japan, joining a growing number of global firms that are betting money can be made as local companies offload property assets.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The Canadian firm plans to invest more than ¥1.6 trillion (US$11 billion) in Japanese property through 2027, mainly in office buildings and hotels, according to BGO’s Asia chairman Fred Schmidt.
Article content
Article content
Article content
“There is a huge opportunity here,” Schmidt said in an interview. The fund has many projects under negotiation, he said. With the business expansion, BGO plans to double its Japan workforce of over 30 employees, Schmidt added.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The investment plans come after BGO said it had closed its fourth Asia-focused fund with over US$5.1 billion in commitments, a record for the firm.
Article content
The new fund has the equivalent of more than ¥3 trillion in investment capacity when including leverage, according to Schmidt. It plans to invest more than ¥2 trillion over the next two and a half years, of which 80 per cent would be allocated to Japan.
Article content
About 60 per cent of its investment capital in Japan will go to offices and 30 per cent to hotels, which are enjoying strong inbound demand.
Article content
Corporate governance reforms may prompt Japanese firms to sell as much as US$3 trillion of real estate as non-core assets, BGO estimates.
Article content
Japanese companies are facing increasing pressure to realize the value of their real estate holdings. United States-based Elliott Investment Management has taken stakes in property-rich companies including Sumitomo Realty & Development Co. and Tokyo Gas Co., while Singapore-based 3D Investment Partners has asked Sapporo Holdings Ltd. to spin off its real estate subsidiary.
Article content
BGO is a unit of Canadian insurerSun Life Financial. It acquired the Rihga Royal Hotel Osaka in 2023, before purchasing the St. Regis Hotel in the same city the following year.
Article content
Article content
English (US)