Japan's publicly traded REITs more than doubled the number of purchases they made in the first quarter, according to data by IB Research & Consulting. The primary factor, it said, was an increase in credit. Japan's 38 REITs acquired 39 properties in the first quarter for an aggregate $2.45 billion. "We are expecting this recovery trend to continue," said Daisuke Seki, CEO of the firm. "The pick-up in the fundraising environment has helped."