Japanese REITs are expected to enter into a period of consolidation as pressure steps up to accelerate acquisitions and takeovers. The number of Japanese REITs might halve, reaching 20 next year, according to Curtis Freeze, chairman of Prospect Asset Management. Freeze sold his REIT to Oaktree Capital Management. "Japanese REIT mergers and acquisitions are just getting started," Freeze said. "There is a clear divide between the winners and losers, and by agreeing to merge, Prospect went from the losing camp into the winning camp."
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