Orix’s real estate investment unit has raised the target size of one of its funds by 33%, reflecting rebounding Japanese institutional investor demand for property market deals.
The subsidiary of Japan’s biggest leasing company will expand the fundraising goal for a real estate fund launched in January to ¥40 billion ($272 million) from ¥30 billion, said Tatsuya Kitamura, the president of the unit, in an interview.
Orix Real Estate Investment Advisors’ fund is a comprehensive type that parks cash in various real estate markets without explicitly targeting specific sectors. Many investors have stayed away in recent years from such products, which peaked in popularity during the late 1980s asset-market bubble era but plunged along with real estate prices when the bubble burst.
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