Mizuho unit enters the real estate market with the purchase of Simplex
Mizuho Trust & Banking, a unit of Mizuho Financial Group, and real estate developer, Hulic, are to purchase Simplex Investment Advisors from US fund Aetos Capital Real Estate for $1.27bn, marking the first time one of Japan's megabank trio has entered into the business of managing real estate investment trusts.

TOKYO -- Mizuho Financial Group is poised to become the first of Japan's megabank trio to get into the business of managing real estate investment trusts as it prepares to acquire Simplex Investment Advisors.

Mizuho has teamed up with real estate developer Hulic to purchase Simplex from U.S. fund Aetos Capital Real Estate, with their estimated 155 billion yen ($1.27 billion) investment seen as one of the year's largest real estate deals in Japan.