Global alternative investment manager AXA IM Alts, investing on behalf of clients, has added a €34m portfolio to its Japanese healthcare platform.

The €185bn asset manager said it has acquired two city-centre senior-housing assets in northern Japan from GK Japan Care Facilities, an affiliate of Goldman Sachs Japan.

The portfolio, let to operator Lifeship, is located in the Hokkaido region and totals 331 purpose-built bedrooms.

AXA IM Alts, which entered the Japanese healthcare market in December 2022, said the latest deal is the firm’s third investment in the sector.

The manager marked its entry into the Japanese healthcare market with the acquisition of a €156m portfolio of 15 nursing homes, located in Tokyo, Osaka and Aichi.

In April this year, the asset manager also acquired a portfolio of two nursing homes, comprising more than 170 newly developed and purpose-built assisted-living bedrooms, split between two assets in Kyoto City and Nishinomiya City, for an undisclosed amount.

The latest deal increases the manager’s assets under management in Japan to around €3.4bn, and “forms part of a wider long-term strategy to invest into residential asset classes supported by strong demographic drivers”, AXA IM Alts said.

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