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Japan Beyond Tokyo Luring BlackRock With Overseas Money

BlackRock Inc., the world’s biggest money manager, is helping to drive a revival in Japan’s property market as investors bet Prime Minister Shinzo Abe’s plan to sustain economic growth will boost real estate returns.

BlackRock is looking for investments outside of Tokyo this year as it seeks higher yields, said John Saunders, managing director and head of Asian real estate. Japan real estate investment trusts, or J-REITs, acquired properties worth 2.23 trillion yen ($21.6 billion) in 2013, almost triple the previous year, after raising a record amount of cash from equity sales, according to the Association for Real Estate Securitization.