Frontier shares up 15% after Mitsui Fudosan buy

02/19/2008 | Bloomberg

Shares of Frontier Real Estate Investment Corp. gained 15% Monday after Mitsui Fudosan Co. yesterday said it will buy Frontier's asset manager. The gain on as the biggest for the Tokyo-based retail real estate investment trust since its shares started trading on the Tokyo Stock Exchange in 2004. "Takeovers and reorganizations are very likely to increase. That's good not only for the REIT industry but also for property developers," said Naoki Fujiwara, who helps oversee $5.2 billion as chief fund manager at Shinkin Asset Management Co.

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