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Blackstone sells Amazon facility in Japan to Nuveen for ¥40B

The Blackstone Group Inc. sold an Amazon fulfillment center in Odawara, Japan, to Nuveen Real Estate for an estimated ¥40 billion, the Nikkei Asian Review reported.

The formerly named TH Real Estate subsidiary of Teachers Insurance & Annuity Association of America is believed to have purchased the facility in partnership with an unnamed South Korean investor, according to the Dec. 19 report.

In October, the private equity giant also sold a 100-property logistics portfolio across 12 markets to Nuveen Real Estate for approximately US$3 billion.

Separately, a Blackstone representative confirmed with Bloomberg News it appointed Amit Jain senior managing director and one of its partners in India, with effect from Jan. 1.

Prior to joining the private equity giant, Jain worked at consultancy firm McKinsey & Co., the Dec. 15 report added.

As of Dec. 18, US$1 was equivalent to ¥109.60.