Aviva nears $250m for Tokyo property fund

Aviva Investors has held a second close at $212 million for its Tokyo Recovery Fund, which will take advantage of capital-lending constraints in Japan to acquire prime office properties. The UK asset manager, raising the fund in partnership with Japanese property-investment firm Secured Capital, is targeting a final close at $250 million by October. The vehicle will invest in office properties in central Tokyo's prime locations, with the aim of building a $500 million portfolio …