TOKYO – August 27, 2014 – CBRE Global Investors has acted for Fosun in their acquisition of the Citigroup Center Building, a large office building located in Tokyo, which closed on August 26. The property is a 25-story, Grade A office building with Gross Floor Area of approximately 30,000 sqm. It is part of Seafort Square, a renowned waterfront development completed in 1992 that includes office, retail, hotel and a theater in the Tennozu district of Central Tokyo.
“We have a long-standing relationship with Fosun and their sister companies in China. They were looking to make their first direct real estate investment in Japan. We are extremely pleased that through our strong local presence and experience in dealing with cross-border investing, CBRE Global Investors was successful in helping Fosun identify and execute this attractive investment opportunity,” said Richard Price, Chief Executive Officer for Asia Pacific.
Fosun is a large conglomerate in Mainland China. Fosun Property Holdings is the property investment and management platform of Fosun Group. Its parent company, Fosun International, is listed on the main board of the Hong Kong Stock Exchange. Fosun’s businesses cover industrial operations, investment, asset management, and insurance. The group’s total assets were approximately USD 30 billion as of December 2013.
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $92.8 billion in assets under management* as of June 30, 2014. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has approximately 44,000 employees in approximately 350 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of properties and real estate-related loans; securities portfolios; and investments in operating companies, joint ventures and in private real estate funds under its fund of funds program. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.