Brookfield Buys Tokyo Luxury Hotel Stake With $1.6 Billion in Deals
- Invested $1.6 billion in properties in Tokyo and Nagoya
- Firm will be ‘doing a lot more in Japan,’ executive says
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Brookfield Asset Management Ltd. said it plans to ramp up real estate investments in Japan after buying a stake in a landmark Tokyo hotel and a large plot of land for logistics development in deals worth a combined $1.6 billion.
The Canadian investment firm took a stake in Gajoen, a mixed-use complex in the Japanese capital owned by China Investment Corp. and LaSalle Investment Management. It also acquired 1 million square feet of land near Japan’s manufacturing heartland of Nagoya to develop a large warehouse. The two deals closed at the end of 2024.