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Property

Prudential plc's Asia fund makes First acquisition in Japan

TOKYO -- M&G Real Estate (former PRUPUM), a real estate management arm of leading UK based insurance company Prudential plc, acquired on December 6 Merado Daikai, a mixed-use facility located in Hyogo Ward, Kobe City. It is the first investment property in Japan for M&G Asia Property Fund, an approximately $1.4 billion scale open-ended core fund being managed by the company. The property in Kobe accounts for about 3% of fund assets.

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