Tokyo-based Kenedix intends make an initial public offer of its residential real estate investment trust (REIT), Kenedix Residential Partners, around the middle of next year, Reuters reports. The REIT’s total asset size is proposed to be $390 million to $910 million.
It plans to finance around 40 percent of these assets through debt and the balance from equity. This will be the third REIT from the Japanese property manager. Kenedix was established in 1995 to run the Japanese real estate business of U.S. property investor and manager Kennedy-Wilson Holdings.
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