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REAL ESTATE
June 28, 1987
Sumitomo Life Realty (N.Y.) Inc., advised by Richard Ellis Inc., has purchased 800 Wilshire Blvd., a 16-story, 216,000-square-foot office building, from a partnership of Peck/Tooley Wilshire Associates and the Noro Group of Companies. The buyer is a U.S. subsidiary of Sumitomo Life Insurance Co. Ltd., one of Japan's largest life insurance firms. The sale price was not disclosed, but industry sources said it was about $45 million.
BUSINESS
January 25, 1989 | From Reuters
After a buying spree for U.S. real estate ranging from prime office buildings to luxury Manhattan apartments in the past few years, Japanese investment appears to have reached a plateau. "Tremendous amounts of money flew in in 1986 and 1987, and in 1988 from smaller Japanese life insurers, but I doubt that pace will continue in 1989," said Hisato Doi, senior vice president of Sumitomo Life Insurance Co.
BUSINESS
January 28, 1989 | From Reuters
After a buying spree for U.S. real estate ranging from prime office buildings to luxury Manhattan apartments in the past few years, Japanese investment appears to have reached a plateau. "Tremendous amounts of money flew in in 1986 and 1987, and in 1988 from smaller Japanese life insurers, but I doubt that pace will continue in 1989," said Hisato Doi, senior vice president of Sumitomo Life Insurance Co.
BUSINESS
November 23, 1987 | From Reuters
Big Japanese investors here say that Washington has not done enough to reduce the federal budget deficit and that Friday's agreement in Washington won't bring them back to Wall Street in force. "I have no intention to start buying, as the stock market is forecast to decline further technically," said Nobuhiko Higo, fund manager at Sumitomo Life Insurance Co. in New York. Japanese investors have taken to the sidelines since Wall Street suffered its record crash on Oct.
BUSINESS
November 10, 1986 | From Staff and Wire Reports
E. F. Hutton Group said over the weekend that it has held talks with rival brokerage Shearson Lehman Bros. Inc., but Shearson did not make a formal offer to buy Hutton and the talks have ended. A merger would have created a network of investment brokers nearly as large as Merrill Lynch's.
BUSINESS
March 20, 1987 | From Times Wire Services
Japanese businesses expanded their beachhead on Wall Street Thursday as Japan's biggest life insurance company agreed to buy a stake in the Shearson Lehman Bros. investment firm from American Express Co. Nippon Life agreed in principle to pay $530 million for a 13% interest in Shearson, a major investment firm that accounted for nearly a third of American Express' revenue and about a quarter of its profit in 1986.
BUSINESS
June 26, 1989 | PETER H. STONE, Hartford Courant
Ever hungry for new investment deals, U.S. insurers are eagerly pursuing the huge pot of wealth that Japanese insurers, banks and trading companies want to invest in this country. Insurers say Japanese institutions, which have become the leading investors in the world today, are especially interested in U.S. real estate, leveraged buyouts and high-yield bonds. American insurers add that they can earn attractive fees for managing Japanese investments in the United States and offering Japanese investors advice.
BUSINESS
November 24, 1987 | PAUL RICHTER, Times Staff Writer
Securities giants E. F. Hutton Group and Shearson Lehman Bros. began merger talks Monday, just hours after Hutton disclosed that it had received unsolicited "indications of interest" from an unspecified number of suitors about buying all or a portion of the company. Hutton, dogged by weak earnings and legal problems in recent years, disclosed early Monday morning that it had been approached about the possible acquisition.
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