Mitsubishi Estate-Backed Japan REIT Weighs Equity Offering Plan

Japan’s second-biggest real estate investment trust is weighing a plan to raise tens of billions of yen in new capital to buy office buildings in high-rent districts, signaling new interest in the nation’s reviving real estate market.

Japan Real Estate Investment Corp., which is sponsored by property developer Mitsubishi Estate Co., aims to increase capital “as soon as possible” through an equity offering, Naoyuki Inoue, Chief Executive Officer of the REIT’s management company Japan Real Estate Asset Management, told Bloomberg News in an interview on Sept. 12. He said the company has started scouting out office properties ...