AM Alpha has acquired a portfolio of 25 residential properties in the capital of Japan.
The Munich-based real estate investment firm said it acquired the portfolio in Tokyo in September last year for an undisclosed sum. The assets are being constructed.
At the time of the acquisition, four properties were already completed while the remaining buildings will be handed over in the coming two quarters, AM Alpha said.
Martin Lemke, managing director of AM Alpha, said: “Demand for residential space, which is boosted by consistently positive fundamental data, and the resulting cash flow stability perfectly complement our existing value-add exposure in the region.
“This transaction is ample proof that our strategy, which focuses on local presence, is the right approach to real estate investments in Asia. We intend to use our existing structure to acquire further properties in Japan. On top of this, we will continue to look for further real estate with value-add potential in our other Asia-Pacific target markets.”
The latest acquisition brings the number of regional transactions in AM Alpha’s Asia-Pacific investment program up to three, with the other two consisting of the 179 North Quay office tower and the mixed-use TC Beirne Building in Brisbane.
In addition to its investments in the Asia-Pacific region, AM Alpha also focuses on value-based investments in Europe.