KKR to buy Japanese real estate manager

KKR’s acquisition of Mitsubishi Corp.-UBS Realty (MC-UBSR) for $2 billion in cash is set to bolster an already leading Japanese REIT management business, according to officials.

The deal deepens KKR’s presence in Japan and expands its existing $41 billion global real estate business to $55 billion in assets.

It also concludes a 20-year long joint venture for Mitsubishi and UBS Asset Management that formed a pioneering Japanese REIT segment that today totals $15 billion in assets and 170 dedicated professionals managing two Tokyo Stock Exchange-listed REITs -- Japan Metropolitan Fund . . .

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