Crescendo Investment, Japan Single-Residence Plan to Merge, Nikkei Reports

Crescendo Investment Corp. and Japan Single-Residence REIT Inc. plan to merge in October to create a property trust with about 140 billion yen in assets, Nikkei English News said, without citing anyone.

Heiwa Real Estate Co. and Prospect Asset Management Inc., the leading shareholders in Crescendo and Japan Single- Residence, are likely to support the merger, the report said.

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