REIT Procurements In Japan Double To $3.1bn In 1st Half of 2005

Tuesday, July 19, 2005

REIT Procurements In Japan Double To $3.1bn In 1st Half

TOKYO (Nikkei)--Procurements by publicly traded domestic real estate investment trusts nearly doubled to 3.1 billion dollars for the first half of 2005, according to figures compiled by U.S. market survey firm Thomson Financial Services.
Both the diversification in products and an increase in new listings helped to boost the balance from 1.63 billion dollars in the 2004 first half. Fund procurement initiatives undertaken by domestic REITs doubled on the year to 10. For example, Japan Real Estate Investment Corp. (8952)in April secured 653 million dollars through a public offering of new shares.
Among the newly listed REITs are Fukuoka REIT Corp. (8968) which focuses on properties in the Kyushu region, and Japan Logistics Fund Inc. (8967), specialist in distribution and warehousing facilities.

(The Nikkei Financial Daily Tuesday edition)