Bouwinvest, which is owned by the €61bn Dutch pension fund BPFBouw, said it has acquired office buildings in Tokyo, Osaka, Hong Kong, Seoul and Auckland.
The investment was made in partnership with other institutional investors and will be managed by the Hong Kong-based investment manager PAG Real Estate.
Together, the parties have invested nearly $700m in 26 office buildings and a expect to invest a similar amount in the coming years.
Earlier this year, Bouwinvest opened an office in Sydney, Australia, its first outside the Netherlands, as it seeks to invest €1.5bn in Asia-Pacific markets by 2021.
It was also revealed at the time that Bouwinvest was investing alongside fellow Dutch investor APG, Macquarie Infrastructure & Real Assets and Greystar Real Estate Partners in Chinese residential markets.
Bouwinvest itself manages €11.3bn in invested capital in total and plans to increase this to €15bn by 2021.
Tjarko Edzes, Bouwinvest director Asia-Pacific investments, said the latest investment fits the firm’s Asia-Pacific portfolio really well and is the latest step in Bouwinvest’s ambition to increase its exposure to offices and create a well-diversified international portfolio with a good sector mix.
“The investment strategy is focused on liquid markets and office buildings that generate an attractive cashflow with potential for growth.
“We aim to grow international investments to 40% of our total portfolio in the next few years after opening a regional office in Sydney earlier this year. With this latest investment we are moving in that direction,” Edzes said.