Updated at 10:46 a.m., Thursday, September 6, 2007
Hawaii Kai-based fund boosts stake in Japanese REIT
Advertiser Staff
Prospect Asset Management Inc., a Hawai'i Kai-based investment fund, increased its stake in Japan Single-Residence REIT to 25.92 percent, according to a filing today with Japan's Ministry of Finance, Bloomberg News reported.Prospect raised its holding in Japan Single-Residence, which focuses on properties with rooms for a single occupant, to 14,542 shares as of Aug. 31, the document said. The fund previously held 24.89 percent of the real estate investment trust. The shares were acquired for client asset management, the filing said.
Bloomberg said separate filings showed Prospect cut its stake in Premier Investment Co. to 5.5 percent from 7.07 percent, and in MID REIT Inc. to 5.91 percent from 7.46 percent. The shares are owned for client asset management, according to the filings. Premier Investment and MID REIT are both real estate investment trusts.
