The Carlyle Group, a globalfirm, as part of joint venture with S.O.W. is acquiring retail properties across Japan, most recently grabbing the 69,213-square-foot Omuta Rex shopping center in Omuta City for an undisclosed figure.
Omuta Rex is the fifth mid-sized retail property acquired in Japan. By 2009, the partnership, formed in February, expects to acquire 10 more properties.
“We look for mismanaged or undervalued assets that we can leverage our resources to increase customer traffic, rental income, mix and quality of tenants,” says Dorothy Lee, director of Asian communications for Carlyle.
Carlyle's strategy is to choosewhere there is little competition.