Oaktree succeeds in boosting stake in Re-Plus REIT

TOKYO, Nov 11 (Reuters) - U.S. investment firm Oaktree Capital Management said it has succeeded in raising its stake in Japanese real estate trust Re-Plus Residential Investment (8986.T) to 48 percent, after twice extending the deadline for its offer.

Oaktree said in August it aimed to raise its stake in Re-Plus Residential to that level by offering 260,000 yen per share in Japan's first tender offer for a real estate investment trust (REIT).

Oaktree first set the deadline for the bid as Oct. 7, which it extended twice.

Shares in Re-Plus Residential have fallen 60 percent since Oaktree announced its plans to buy the shares. Re-Plus shares ended down 3.2 percent at 78,500 yen on Tuesday. (Reporting by Junko Fujita; Editing by Chris Gallagher)