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Saturday, October 9, 2010

Markets to Watch Japan

Japan —  continues to see strong cross-border interest in quality assets, according to Jones Lang LaSalle. Among several notable 2Q10 transactions were Mori Trust Sogo REIT’s $1.2 billion purchase of a 50 percent joint ownership in the Tokyo Shiodome Building and a $200 million retail portfolio sale. Overall, investment sales volumes were up 21 percent in 2Q10 from 2Q09. Though the region saw a 34 percent decline in overall sales volume from 1Q10 to 2Q10, several large transactions are pending, and improving fundamentals are expected to fuel an uptick in investment activity before year-end.

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