Advance Residence Investment (JP:3269) has released an update.
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Advance Residence Investment Corporation (ADR), managed by ITOCHU REIT Management Co., Ltd. (IRM), has announced an absorption-type company split with Mitsui Fudosan Logistics REIT Management Co., Ltd. (MFLM), effective November 1, 2024. This strategic move is in line with a merger whereby MFLM will manage assets related to logistics facilities, with IRM acquiring a 23% stake in MFLM. The restructure aims to streamline operations and prevent conflicts of interest in asset management and property acquisitions post-merger.
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