JAPANESE INVESTORS LOSE $22.8 BILLION IN US

Japanese investors have incurred paper losses of at least $22.8 billion on their United States real estate investments since 1986, according to Pensions & Investments, a bi-weekly publication.

The losses represent more than 30 percent of the $76 billion the Japanese have invested in US real estate. For example, Mitsubishi Estate Company's 80 percent stake in New York's Rockefeller Center, bought for $1.37 billion, is now worth an estimated $900 million.

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