| From Financeasia.com: The private equity firm aims to acquire up to 48.4% in Re-plus Residential Reit through an investment package that will also provide the Reit with fresh capital.US-based private equity firm Oaktree Capital Management yesterday officially launched a tender offer for an additional 10.79% stake in Japan’s Re-plus Residential Investment Inc, taking advantage of a severely depressed unit price. This is the first ever tender offer for a Japanese real estate investment trust (Reit), and also the first major investment by an institutional investor in the sector since the beginning of the credit crisis and the correction of the stockmarket 12 months ago.
The earlier flagged tender offer comes two weeks after Oaktree bought 38% of Re-plus through a new share issue and if successful it will leave the US firm with a 48.4% stake. Oaktree has also bought a 35% stake in Re-plus Reit Management, which is responsible for the day-to-day business of the Reit. If the entire tender offer is taken up, Oaktree’s total investment will amount to ¥15.72 billion ($144 million) – a sum that it will handle without taking on any new debt. The acquisition is being made through AppleRingo Holdings, a company owned by Oaktree-managed funds..... Full Article: Source
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