SINGAPORE (June 2): The Straits Trading Company announced that its subsidiary, Straits Real Estate Pte. Ltd. (SREPL), through its wholly owned subsidiary, SRE Venture 7, has entered into a subscription agreement with Greater Tokyo Office Fund (Jersey).

The fund focuses on acquiring office assets in the Greater Tokyo area, which may include Tokyo, Kanagawa, Saitama, and Chiba prefectures and selected regional cities outside of Greater Tokyo.

SRE Venture 7, as one of the limited partners of the fund, will commit JPY4.9 billion ($53.4 million).

Straits Trading said the subscription is in line with its stated strategy previously announced its strategy of redeploying capital from its existing property portfolio of high quality, but low yielding investment properties into higher return real estate opportunities via SREPL.

The fund will be managed by Greater Tokyo Office Fund (Jersey) GP which is a subsidiary of Cordea Savills LLP.

Straits Trading Company last closed at $2.85.