| Sparx Group Co., a Japanese asset management company, will start a fund that will invest in the nation’s residential properties after receiving money from a sovereign wealth fund in the Middle East.
Sparx will start the fund with AD Investment Management Co., which manages a real estate investment trust, on Sept. 28 with initial capital of about 9 billion yen ($116 million), said Sparx Chief Executive Officer Shuhei Abe. The fund, which will last for five years, has a maximum capacity of 40 billion yen and will invest in six apartment developments in Tokyo and Nagoya, he said...............................................Full Article: Source |