JAPAN: European investors may outspend the Japanese...

JAPAN: European investors may outspend the Japanese this year in the depressed U.S. real estate market, a survey reported. “The Europeans could be one of the few major institutional global capital sources allocating significant dollars to U.S. real estate in the next 12 to 18 months,” said Robert E. Davis Jr. of Arthur Andersen & Co., which conducted the survey. Davis estimated that European investment in U.S. real estate, which totaled $13 billion in 1989 and $11 billion last year, will probably reach about $11 billion. He said Japanese investment will reach about $10 billion this year.