Daiwa Real Estate Asset Management Co., a unit of Japan’s second-largest brokerage, will set up a health-care real estate investment trust that will own nursing homes and hospitals in the world’s fastest-aging society.
Daiwa Real Estate plans to start operating the trust with about $96 million as early as March and list the shares on the Tokyo Stock Exchange by mid-2014, the company said in a statement through the bourse Thursday. The unit also manages Daiwa Office Investment Corp. and Daiwa Residential Private Investment Corp.
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