"The property is an attractive investment for our funds investors, not only visually but also from an investment perspective, " said Wolfhard Leichnitz, chief executive of IVG Immobilien.

FORBES: Magazine Article

As can be seen, whether one considers the investment as real or personal property, the issue is resolved by determining whether the funds used to purchase the interest were the sole and separate funds of Zouheil.

CENTERFORSECURITYPOLICY: converter

Real-estate investment trusts and specialised private-equity funds, which have been scrambling to buy property in swanky districts of big cities, such as Tokyo, Osaka and Nagoya, where prices are booming, also have lots of debt.

ECONOMIST: Japan's financial institutions