oaktree-launches-tender-offer-for-japanese-reit

Oaktree launches tender offer for Japanese Reit

The private equity firm aims to acquire up to 48.4% in Re-plus Residential Reit through an investment package that will also provide the Reit with fresh capital.
August 28, 2008
US-based private equity firm Oaktree Capital Management yesterday officially launched a tender offer for an additional 10.79% stake in JapanÆs Re-plus Residential Investment Inc, taking advantage of a severely depressed unit price. This is the first ever tender offer for a Japanese real estate investment trust Reit, and also the first major investment by an institutional investor in the sector since the beginning of the credit crisis and the correction of the stockmarket 12 months ago.

The earlier flagged tender offer comes two weeks after Oaktree bought 38% of Re-plus through a new share issue and if successful it will leave the US firm with a 48.4% stake. Oaktree has also bought a...
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