Salient to Investors: William Pesek writes: Asia represents more than half the global economy. Softbank founder Masayoshi Son’s $326 million purchase of Tokyo’s landmark Tiffany Building may be a sign Japan’s long-suffering property market is turning around – the success of this investment will be a good barometer. Every scrap
READ MORE... →Salient to Investors: Grace Tam at JPMorgan Asset Mgmt said nobody knows what will happen next, but Cyprus is something we have already seen happening in Europe, so are not concerned. The MSCI Asia Pacific Index is at 14.9 times estimated earnings versus 14.1 for the S&P 500 and 12.7 for the Stoxx
READ MORE... →Salient to Investors: Thomas Pulley at Fortress Investment plans to buy real estate debt backed by rental apartments, retail space and business hotels in Japan’s metropolitan areas. Pulley says the deleveraging and asset-cleansing process has occurred more at the mid-size than the larger properties. Pulley is underweight offices because the differential between
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