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Article: Japanese Investment in U.S. Real Estate Rose 30 Percent in 1988, Study Says
- Article from:
- The Washington Post
- Article date:
- March 11, 1989
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Japanese investment in U.S. real estate, already at an all-time
high, increased another 30 percent last year and began to move beyond
prime Hawaiian, Californian and New York properties to a broader
range of projects in Chicago, Atlanta, Boston and Washington,
according to a new study.
The report by the Los Angeles-based accounting firm of Kenneth
Leventhal & Co. said new Japanese investment in U.S. land and
buildings reached $16.54 billion in 1988, compared with $12.77
billion in 1987. The firm said Japanese now own $42.88 billion in
U.S. real estate, a figure that has doubled in two years.
"The relative value of the yen, high real estate prices in
Tokyo, the liberalization of foreign ...