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Nippon Building Plans to Buy More Assets on Rent Increases

Nippon Building Fund Inc., Japan’s biggest real estate investment trust, plans to acquire more assets on expectations that office rents in Tokyo will recover, ending declines since 2008.

The REIT may acquire more than 50 billion yen ($623 million) a year if there are good properties, said Kenichi Tanaka, president and chief executive officer of Nippon Building Fund Management Ltd., which manages the REIT. The REIT has bought 36 billion yen of office buildings a year on average in the past three years, according to the company.