Japanese real estate on receiving end from CPP Investment

TORONTO — The Canada Pension Plan Investment Board has announced a commitment of $205.6 million to a joint venture with Mitsubishi Estate Co. to pursue investments in commercial and residential assets in Japan.

The joint venture will be managed by Mitsubishi Jisho Investment Advisors, a wholly owned subsidiary of Mitsubishi Estate, stated a recent release.  

“As one of the most established real estate markets in Asia, Japan offers a broad range of investment opportunities across the sector with attractive risk-adjusted returns,” said Gilles Chow, a managing director with CPP Investments, in a statement. “Mitsubishi Estate is a highly respected partner with deep local real estate development and management experience and will help us to further diversify our real estate portfolio in Japan.”