Date
20 September 2017
Fosun is buying into Japanese real estate with the purchase of  IDERA Capital Management Ltd. Photo: Bloomberg
Fosun is buying into Japanese real estate with the purchase of IDERA Capital Management Ltd. Photo: Bloomberg

Fosun buys Japan property management firm IDERA

Shanghai conglomerate Fosun Group is expanding its overseas real estate reach with the purchase of Tokyo-based real-estate management firm IDERA Capital Management Ltd., the Wall Street Journal reported Thursday.

Fosun would not say how much it paid for the company, the latest in a series of offshore purchases that include One Chase Manhattan Plaza in New York, the Lloyds Chambers office building in London and the insurance arm of Portuguese state bank Caixa Geral de Depositos, the report said.

Fosun used its Hong Kong-listed unit, Fosun International Ltd. (0656.HK), to buy IDERA, which managed ¥160 billion (US$1.57 billion) as of the end of last year, including office, residential and retail properties, as well as real-estate funds, the report said.

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