REAL ESTATE

Japan Takes Beating in U.S. Real Estate: The details of a larger-than-expected selloff of Japanese-owned U.S. real estate in 1994 will be included in an annual survey scheduled to be released today by the E&Y; Kenneth Leventhal Real Estate Group. The selloff is expected to continue this year in the wake of a nationwide slump in U.S. commercial real estate that has forced many Japanese investors to sell their properties at major losses, according to industry observers. Last year, Los Angeles-based Kenneth Leventhal said the Japanese were considering selling or cutting the debt on 40% of the U.S. real estate they had purchased since the mid-1980s.