Economics
U.S. Pension Giant Eyes Japan Property in Economic 'Sweet Spot'
- TIAA’s real estate unit earmarks $1 billion for Japan assets
- Firm plans to buy supermarkets, drugstores and movie theaters
Mount Fuji and buildings in the Shinjuku district are reflected on a table at an observation deck in Tokyo, Japan.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
U.S. pension giant TIAA is setting its sights on Japanese real estate, betting Abenomics has the economy well placed to grow in coming years.
The near 100-year-old firm, known for offering retirement products to teachers, plans to invest about $1 billion in retail and logistic sites in Tokyo and Osaka, Shusaku Watanabe, director of capital transactions for Asia Pacific at its property unit TH Real Estate, said in an interview on Monday.