First JREIT buyout deal getting formalized
June 17, 2009 · Print This Article
Nikkei announced Daiwa Securities is taking over 100% the Davinci Select reit advisor and buying 13% of its managed JREIT DA Office Investment Corp (8976) at 190K/share. Daiwa plans to use its strong credit to work through refinancing issues and the synergies created to grow related income streams. This will take some pressure off DaVinci, looks like the market has already noticed though.
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBNG46369120090616
Expect more deals soon.
EastEdge Partners is a Japan investment advisory and brokerage firm based in Akasaka, Japan