Debut Japanese Property Swap


International property company Grosvenor Group has carried out the first Japanese property derivative transaction based on the IPD Index for Japan, a two-year, total-return property swap done with Royal Bank of Scotland. The IPD Japan Monthly Indicator is one of a range of international indexes produced by London-based International Property Databank (IPD).The deal follows Grosvenor's Australian property derivatives trade in May done with ABN Amro, the first in that country, and the first pr