German property group Commerz Grundbesitz said it has acquired a fully-let shopping centre in Fukuoka, Japan, for its hausInvest global fund from Credit Suisse Asset Management for around EUR 55 mln. The Hakata shopping centre has a gross lettable area of about 9,700 m[sup]2[/sup]. The city of Fukuoka has a population of nearly five million and is located on Kyushu, Japan’s southern-most island.
German property group Commerz Grundbesitz said it has acquired a fully-let shopping centre in Fukuoka, Japan, for its hausInvest global fund from Credit Suisse Asset Management for around EUR 55 mln. The Hakata shopping centre has a gross lettable area of about 9,700 m2. The city of Fukuoka has a population of nearly five million and is located on Kyushu, Japan’s southern-most island.
‘Japan is a very interesting market for Commerz Grundbesitz Group, especially in the retail business sector,’ said Commerz Grundbesitz ceo Frank Porschke. ‘Because the world’s second-largest economy is experiencing a substantial boom which is in turn leading to an increase in consumer spending. That is why we see a great long-term potential for our investments in Japan, and why we will continue to expand our commitment in the country.’
Commerz Grundbesitz set up the hausInvest global open-end fund in 2004. The fund invests worldwide and now has investment volume of more than EUR 1.7 bn.
