Monday, September 12, 2005

G-gate To Launch Three Funds By FY06-End

G-Gate, a Tokyo developer, plans to set up three real estate investment funds totaling 50 billion yen. It will launch two funds, valued at 15-25 billion yen each, by the end of fiscal 2006. One will focus on properties corporate owners want to sell to meet asset impairment accounting rules that took effect in fiscal 2005. The other fund will allocate 10% of its assets to private nursing homes developed for sale to investors by the company, and use some of the remaining assets for property-related merger and acquisition deals.

Full Story - Nikkei: G-gate To Launch 3 Real Estate Investment Funds By FY06-End

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