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Investment funds heat up global real estate market

Central banks leery of another bubble

The Ginza Six shopping complex opened in Tokyo this April.

TOKYO -- Global funds investing in real estate and infrastructure have raised $87.5 billion during the first half of this year, largely from financial institutions and pension funds starved for returns in the face of historically low interest rates.

This record pace of inflow is stoking concerns about an overheated market, especially from central banks in Western nations.

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