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Brookfield Asset Management Completes Two Acquisitions in Japan Worth US$1.6B

Brookfield Asset Management has announced the completion of two major real estate acquisitions in Japan totalling US$1.6 billion as part of effort to expand its commercial real estate footprint in the country.

The company revealed the news in a press release, according to multiple media reports. However, Connect has not obtained access to the release. Bloomberg reported that the transactions closed in December 2024.

The Canadian investment firm acquired an undisclosed stake in Gajoen, a prominent mixed-use complex in Tokyo, which was previously owned by China Investment Corporation and LaSalle Investment Management, according to the reports. Additionally, Brookfield secured one million square feet of land near Nagoya, Japan’s manufacturing hub, with plans to develop a large warehouse, Bloomberg reported.

“You’re going to see us doing a lot more in Japan,” Andrew Burych, a managing partner and head of East Asia real estate for Brookfield, said in an interview with Bloomberg. “Our pipeline is pretty good going into 2025.”

Burych also told Bloomberg that the global commercial real estate investment firm is poised to exceed the US$1.6 billion it invested in Japan in 2024, with plans to focus on logistics, mixed-use complexes, and hospitality assets. The firm is currently assessing potential transactions valued between US$50 million and US$1 billion.

He also highlighted opportunities to engage with Japanese public REITs trading below their net asset value, as well as private REITs whose shareholders may require liquidity.

Investment in Japanese real estate surged by 40 per cent in the first nine months of 2024 compared to the previous year, reaching an estimated ¥5 trillion (US$32 billion) for the full year, Bloomberg reported while citing JLL figures. The firm anticipates continued strong activity from both domestic and international investors in 2025, the report states.

Pictured: The Gajoen mixed-use complex in Tokyo

Photo: Shutterstock

Read More News Stories About: Brookfield Asset Management
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Andrew BurychBrookfield Asset Management

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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