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Japanese Real Estate, Long Depressed, Hints at a Revival

机译:日本房地产,长期处于低迷状态,复苏时提示

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Tokyo―Last year, Curtis Freeze, the manager of a Japanese mutual fund, saw some numbers that shocked him. Despite Japan's withering recession and a decade of free-falling real-estate prices, the shares of one of Mr. Freeze's big holdings, a condominium developer, were rocketing. He dug deeper. Several property surveys showed in pockets of Tokyo land prices were starting to rise. Meanwhile, Tokyo condo sales were booming, and office towers were going up at a record pace. So, despite his lack of experience in the sector, Mr. Freeze, who lives in Hawaii, decided to pour much of his fortune into Tokyo real estate, one of the riskiest investments on earth. At the end of March, he closed his first two deals, a pair of apartment buildings in central Tokyo, for a total of $28 million. He plans to assemble a big portfolio of Japanese apartment properties and take the company public next year.
机译:东京-去年,日本共同基金的经理柯蒂斯·弗里兹(Curtis Freeze)看到一些数字震惊了他。尽管日本经济衰退加剧,房地产价格连续十年下跌,但弗里兹最大的持股之一-公寓开发商-的股价却在飞涨。他挖得更深了。几项房地产调查显示,东京部分地区的土地价格开始上涨。同时,东京的公寓销售迅猛增长,办公大楼的增长速度创下历史新高。因此,尽管他缺乏该领域的经验,但住在夏威夷的弗里兹先生还是决定将他的大部分财产投入到东京房地产上,这是地球上风险最高的投资之一。 3月底,他完成了头两笔交易,即位于东京市中心的一对公寓楼,总价为2800万美元。他计划组装一大批日本公寓物业,并于明年将该公司上市。

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