TOKYO — A tender offer by Singapore-based 3D Investment Partners for NTT Urban Development REIT Investment carries echoes of 2019, when Japan’s deeply undervalued REIT market last turned bullish.
“So, they’ve made a move,” said an executive at a listed REIT asset management company after 3D announced its tender offer on Tuesday. 3D did not notify NTT UD REIT of the tender offer in advance.
