AXA IM Alts, which entered the Japanese healthcare real estate market in December 2022, has made a second acquisition.
The €186bn global asset manager said it has acquired a portfolio of two nursing homes in Japan, on behalf of clients. Financial details were undisclosed.
The portfolio comprises more than 170 newly developed and purpose-built assisted-living bedrooms, split between two assets in Kyoto City and Nishinomiya City.
AXA IM Alts marked its entry into the Japanese healthcare market with the acquisition of a €156m portfolio of 15 nursing homes, located across Tokyo, Osaka and Aichi.
At the time, AXA IM Alts said the deal also forms part of its wider long-term strategy to invest in residential asset classes, supported by strong demographic drivers.
The company recently added €420m worth of multifamily properties in Japan to its Asia-Pacific residential portfolio.
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