Tokyo Property Deals Surge as Rising Rents Lure Buyers
This article is for subscribers only.
Investment in Tokyo properties is surging on prospects that rents will rise, boosting returns, even after a 20 percent gain in prices since Japanese Prime Minister Shinzo Abe took office almost two years ago.
“There is a sense of value here that you don’t find in other major office markets,” said Jon Tanaka, Tokyo-based managing director of Angelo Gordon & Co., an alternative asset manager with about $27 billion in assets. “Japanese and offshore core buyers have capital available and they are very eager to find investment opportunities in Tokyo.”