General Electric’s (GE) real estate arm, GE Capital Real Estate, has partnered with Aberdeen Asset Management to establish a $400 million fund, Bloomberg reports. The venture, which will be called Tokyo Residential JV, will invest in residential buildings in Tokyo.
The fund will target studio and one bedroom apartment properties in Tokyo over the next two years. GE Capital Real Estate has around $73 billion in assets as of 2010, while U.K. fund manager, Aberdeen, has $287 billion in assets, adds Reuters.
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