| U.S.-based LaSalle Investment Management Inc. and sovereign-wealth fund China Investment Corp. have teamed up to buy the Meguro Gajoen commercial property complex in Tokyo for around ¥140 billion ($1.2 billion), according to a person familiar with the transaction, the latest sign of renewed strength in the city’s property market.
The purchase was made in late January by a joint venture with a sovereign-wealth fund, LaSalle Investment Management said in a statement Monday, without naming CIC or the price tag. A spokeswoman for LaSalle in Japan declined to comment on the identity of the sovereign-wealth fund or the acquisition cost. CIC didn’t respond to a request for comment...............................................Full Article: Source
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