Japan’s Big Deal
In Japan’s largest real estate deal of 2009, Secured Capital of Japan purchased Pacific Century Place, a 32-story class A office property located adjacent to Tokyo Station in the city’s Marunouchi business district. The price is estimated at $1.6 billion and the seller was DaVinci Advisors.
Markets to Watch
Shanghai — Real estate acquisitions in 2009 increased 42 percent over the previous year, with 22 transactions totaling more than $3.6 billion, according to Jones Lang LaSalle. Office properties accounted for 79 percent of the deals. Domestic investors dominated the market with owner-occupiers accounting for half of the purchases.
Vancouver — While transaction volume in the first half of 2009 dipped to the lowest levels in seven years, two large office sales — $297 million and $84 million — helped the city’s investment profile, says Avison Young. Large institutional and private investors searching for trophy properties are now in a buying mode, as corporate tenants in one of North America’s tightest office markets are assessing their medium- and long-term needs.
European Property Investors Survey
|Investors by country
||Percentage likely to buy more real estate in 2010
||Percentage who see country’s property market recovering in 2010
Source: Union Investment
Latin America Hotel Growth Slows
Source: Lodging Econometrics