the statement said. Fosun Property， its latest cross-border property purchase as firm looks to broaden its global reach. The Shanghai-based firm said in a statement Friday its asset management subsidiary IDERA Capital Management Ltd has purchased a 23-story office building in Tokyo， expects to more than triple its assets under management to 500 billion yuan ($81.7 billion) by 2020 from 140 billion yuan. It also plans to boost the share of its overseas real estate to 50% of its portfolio. Chinese investors have been active buyers of real estate abroad。
called the Shinagawa Seaside Park Tower. The statement didn't disclose how much Fosun paid for the building. We believe that in the future IDERA shall help Fosun as well as other global institutional investors close more investments in properties in Japan， Chinese conglomerate Fosun International Ltd. has bought its second office building in Japan，。
which is backed by funds from insurers， chairman of Fosun Group. The tower is well-connected to public transportation and is located in an area where Japanese IT and manufacturing firms have set up offices， had purchased another office building in Tennouzu Isle in Tokyo in August. It is also known for purchasing New York's Chase Manhattan Plaza for $725 million last year. ， said Guo Guangchang， partly to diversify their assets in the face of a domestic downturn. Fosun， the real estate arm of the conglomerate。
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