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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Singapore, Blackstone square off over Japan property

Posted on 04 July 2011

Global Logistic Properties Ltd., majority owned by Singapore’s sovereign-wealth fund, is in final negotiations to acquire a Japanese portfolio of real estate that could fetch up to ¥140 billion ($1.7 billion), making it the biggest property deal in Japan in two years, according to people familiar with the matter.

Private-equity firm Blackstone Group’s real-estate arm is also in final talks and is in close competition with GLP in a bid to acquire the assets, according to the people. LaSalle Investment Management is selling a portfolio of more than 20 industrial properties in Japan used for distribution and warehouses by companies……………………………………….Full Article: Source

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