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Tokyo tops the list of millionaires, with 461,000; it’s second in multi-millionaires, with 3,525; and No. 14 in billionaires, with 12.
Tokyo tops the list of millionaires, with 461,000; it’s second in multi-millionaires, with 3,525; and No. 14 in billionaires, with 12.
(YOSHIKAZU TSUNO/AFP)

CPPIB sees a bottom in Tokyo’s real estate market

The Canada Pension Plan Investment Board believes that this is the point in Japan’s real estate cycle when the getting is good.

CPPIB has created a co-investment program with GE Capital Real Estate through which the team will start putting money into mid-size office buildings in Tokyo. The partnership comes just months after CPPIB announced that it and Global Logistic Properties had decided to more than double the equity they were committing to their venture, which develops industrial properties in Japan. That venture, created less than two years ago, was CPPIB’s first foray into Japanese real estate.