The asset manager of SOSiLA Logistics REIT, Sumisho Realty Management Co., Ltd. (SRM), has been issued a business improvement order by Japan’s Financial Services Agency (FSA) for breaching conflict-of-interest rules related to another fund under its management.
The FSA found that SRM had failed to faithfully perform its investment management duties for SC Realty Private REIT, Inc. (SCRP) by improperly influencing the process for obtaining a real estate appraisal and valuation for a property acquisition in FY2020.
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