Japan: AXA, Sumitomo Trust to start Tokyo property fund.Byline: shiv03 Sumitomo Trust and Banking Sumitomo Trust & Banking Co., Ltd. (住友信託銀行株式会社 (8403.T) said on Monday it will join hands with French insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. group AXA AXA Anguilla, Anguilla (Airport Code) AXA Alpha Chi Alpha AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing) AXA Auxiliary Artery to set up a $1.1 billion real estate investment fund to buy office buildings in Tokyo. Tokyo's office market was the world's most active in the first half of this year, as investors return to a market hit hard after the global credit crunch Credit Crunch An economic condition whereby investment capital is difficult to obtain. Banks and investors become weary of lending funds to corporations thereby driving up the price of debt products for borrowers. pushed down property values and squeezed financing. Axa group's real estate investment unit, Axa Real Estate Investment Managers and Sumitomo Trust said they will seek 50 billion yen ($550 million) in investment from global investors. They will also seek about 50 billion yen in lending from financial institutions, a Sumitomo Trust official said. They plan to set up the fund by early 2010. Other signs of growing investor appetite for deals in Japanese property market, the world's second-biggest, include Prudential Prudential is the name of two different companies and buildings named after them: Companies:
PRU Pupil Referral Unit PRU Photographic Reconnaissance Unit PRU Potomac Rugby Union (Washington, DC) PRU Provincial Reconnaissance Unit PRU Projets de Rénovation Urbaine PRU Pruhonice .N) new licence for a commercial real estate finance business in Japan. An executive from property broker and asset manager Cushman & Wakefield also told Reuters last month that Asian sovereign wealth and pension funds have started hunting for investment opportunities in Japan. Sumitomo Trust's shares ended the morning session down 0.4 percent at 490 yen while the benchmark Nikkei average .N225 lost 1.1 percent. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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