|By JCN Newswire||
|January 6, 2014 11:09 PM EST||
In 2000, MC and UBS established a joint venture, MC-UBS Realty Management in Japan. Jointly we grew the company which now manages the second largest REIT in Japan. The new fund project is backed by this longstanding successful relationship between MC and UBS, and we are looking to expand the scope of our cooperation into a more global scale. Although MC has focused on the domestic real estate market, it is now intending to expand its asset management business to foreign real estate and other real assets.
The fund is a closed ended debt fund seeking to take advantage of the debt financing gap in commercial real estate in the UK. It will target a wide range of potential borrowers including those needing to refinance their maturing loans and new borrowers seeking to invest in the UK commercial property market. UK real estate debt market has an established reputation in terms of transparency, liquidity and lender-friendly legal system.
Both MCAME and UBS GAM intend to grow the fund with investors from around the world. Target fund size is GBP 500 million.
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.
Source: Mitsubishi Corporation
Mitsubishi Corporation Telephone:+81 3 3210 2171 Facsimile:+81 3 5252 7705
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