has extended its global living real estate strategy into the Japanese market with the acquisition of a portfolio of eight multifamily assets in Tokyo.

Heitman declined a request to disclose the acquisition cost.

The real estate investment management firm said five of the acquired properties are recently completed, with three properties under development and scheduled for completion by year-end.

Brad Fu, Heitman head of acquisitions of Asia-Pacific private equity, said: 鈥淲e are seeing strong lease-up momentum and anticipate that we will see long-term resiliency in the residential sector underpinned by sustained urbanization and limited net new supply in Tokyo.鈥�

Heitman, on behalf of its clients, already has nearly 20,000 units or $6.7bn worth of multifamily assets in North American and Europe.

Gordon Black, Heitman senior managing director and portfolio manager, said: 鈥淲e identified Japan multifamily as a target for our initial global strategy鈥檚 portfolio construction due to its delinked demand drivers and cash flows less correlated to economic conditions.鈥�

To read the digital edition of the latest 91传媒在线 magazine click here. 

Topics

Related Companies