AXA Investment Managers has bought three residential real estate assets in Japan.
The company’s rebranded Real Assets division bought the properties for AXA Insurance Company.
The investment manager said it was looking to invest around €150m in Japan, buying residential, retail and office assets for the client.
Two of the assets are in Sapporo, the largest city on Hokkaido Island.
The third asset is in Sendai.
Tetsuya Karasawa, head of Japan Real Assets, said the investments offered a “stable and long-term good-quality yield in an increasingly competitive market for core investments”.
The two Sapporo assets were constructed in 2008 and include 148 mid-market units.
The Sendai city property is near transportation, including an express train, local train and highway.
AXA IM said the three assets were in line with its strategy to acquire well-maintained assets in core locations.