NNN Lease Market News
Japan commercial real estate market begins to show signs of a turnaround
Angelo Gordon & Co., a New York- based manager with $24
billion in assets, is seeking to boost Japan property investments amid signs of
a recovery, after acquiring about $650 million of commercial real estate in the country
the past two years.
Angelo Gordon is seeking bargains in Japan as the property market begins to show signs of a turnaround. Office buildings in Tokyo provided
a 3.4 percent total return, including rental income and capital value, in 2011,
after a 0.5 percent gain a year earlier, based on data compiled by RREEF, a
property investment arm of Deutsche Bank AG. Before that, the market had three
straight years of decline, the data showed.
Total return for properties in the U.K. rose to as high as
15 percent in 2010 and fell by half last year, while properties in the U.S.
climbed for two straight years after posting two annual losses, based on data
compiled by RREEF.
“Compared to major markets like New York and London, core
asset prices in Tokyo have not appreciated very much,” Tanaka said. “We think
there is upside potential as fundamentals improve.”
Angelo Gordon was founded in 1988 by Chief Executive Officer
John Angelo and Chief Investment Officer Michael Gordon. Angelo Gordon began
investing in commercial real estate in 1993 and has acquired more than $13
billion of properties, according to the company.
