US real-estate investor to spend up to 4.8 bln dlrs in Japan

0 Comments | AFP, January, 2005

TOKYO (AFP) — Starwood Capital Group, a US real-estate investment firm, will spend up to 4.8 billion dollars buying hotels and other commercial buildings in Japan over the next three to five years, a press report says.

The Japan branch of the Greenwich, Connecticut-based Starwood Capital will focus on hotels in central Tokyo and resort towns, as well as other commercial facilities, the Nihon Keizai Shimbun newspaper said in its evening edition.

Investment will total a maximum 500 billion yen (4.8 billion dollars), the economic daily said without citing sources.

No immediate comment from Starwood was available.

Starwood Capital will fund its purchases with money received from institutional and individual investors and through bank loans, and will...

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