Aberdeen Investments has acquired two residential properties in Japan, expanding its living business in the country.
The asset manager’s acquisition of the WORVE Tokyo Kiba and Dimus Negishi properties follows a mandate from Dutch pension fund manager PGGM in October last year to manage a 3,300-unit rental-home portfolio in Japan.
Marc Pamin, CEO of living at Aberdeen Investments, said: “The Japanese market is an exciting, fast-growing addition to our global living business, which broke the €10bn assets under management milestone last year.
“We are deeply committed to this market and continuously strengthening our investment capabilities to offer superior services and innovative investment solutions to both Japanese investors and those looking to invest in Japan. These acquisitions underline our ambition to excel in the Japanese real estate market.”
Harumi Kadono, head of Japan real estate at Aberdeen Investments, said: “Japan has been one of the markets where we hold the highest real estate investment conviction in APAC. At the same time, the living and residential sector ranks highly in our investment preferences globally.
“In particular for Tokyo residential properties, the investment case remains robust. Vacancy rates have historically been tight, and trends underpinning residential leasing demand – such as net migration, improved wage growth and increased female labour participation/dual-income households – are likely to endure.
“We believe this asset class offers an excellent opportunity for global investors seeking to diversify their portfolios while achieving superior long-term returns and stable income.”
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