China's Anbang Insurance Group could buy as much as $2.3bn of Japanese residential property assets from USA's Blackstone Group, according to sources cited by Reuters. Prices for office properties have rebounded to levels where investors find it hard to justify future returns, but some say residential prices can rise further on housing demand in the biggest cities, where growth is robust. This would mark Japan's largest property deal since the global financial crisis, and the first time Anbang has entered the country's real estate market. The Chinese insurer is looking for a buyer who can help it expand its presence in Japan after buying up stakes in several major companies including Mitsubishi UFJ Financial Group.
China's Anbang Insurance Group could buy as much as $2.3bn of Japanese residential property assets from USA's Blackstone Group, according to sources cited by Reuters. This would mark Japan's largest property deal since the global financial crisis, and the first time Anbang has entered the country's real estate market. The Chinese insurer is looking for a buyer who can help it expand its presence in Japan after buying up stakes in several major companies including Mitsubishi UFJ Financial Group.