has teamed up with Asia investment manager to invest up to $400m (鈧�323.6m) in logistics real estate assets in Japan.
The newly launched Japan Logistics Venture, which is majority-owned by Ivanho茅 Cambridge, will develop and acquire core logistics facilities mostly in urban and last-mile locations, the pair said, adding that the platform has already identified a pipeline of opportunities for its investment program.
George Agethen, senior VP Asia-Pacific at Ivanho茅 Cambridge, said: 鈥淟ogistics has proven to be highly resilient during this pandemic and will remain a key focus in the coming years, especially in Asia Pacific, where we are already invested in Singapore, Australia, China, India and Indonesia.
鈥淲e鈥檙e delighted to launch this new investment strategy in Japan and this venture will significantly accelerate our capacity to grow and diversify our portfolio in this key Asian market.鈥�
Jon Paul Toppino, PAG Group president and managing partner of PAG Real Estate, said: 鈥淧AG has been investing in Japan real estate since 1997, with a comprehensive knowledge of local markets and a strong track record.
鈥淲e expect the logistics sector in Japan to remain a durable and attractive opportunity, and we look forward to working with Ivanho茅 Cambridge as they continue to grow their portfolio in the region.鈥�
The companies said the joint venture reinforces the strategic partnership between Ivanho茅 Cambridge and PAG, which started with an initial investment in 2017.
To read the digital edition of the latest 91传媒在线 magazine click here.
