MacarthurCook Industrial REIT Makes Foray Into Japan With S$29m Buy

Source : Channel NewsAsia, 26 November 2007

MacarthurCook Industrial REIT has made its first acquisition outside of Singapore, buying the Asahi Ohmiya Warehouse in Japan for S$29 million.

It will outsource the management of the property to Atlas Partners Japan, a Japanese real estate fund and asset management firm.

MacarthurCook Industrial said the acquisition is an important first step of its expansion into Japan, in line with its pan-Asian strategy.

It expects to have 20 per cent of its portfolio to be allocated in Japan eventually, another 50 per cent in Singapore and the remainder in other major Asian industrial property markets. - CNA/ac