BNP Paribas Asset Management Alts (BNPP AM Alts) has acquired a minority stake in a newly constructed 165,000sqm multi-storey logistics asset in Japan from ESR.
The alternatives asset manager has invested an unspecified sum on behalf of clients to acquire the minority stake in the Yokohama Sachiura Distribution Centre 3 (Sachiura DC3) from the Asia-Pacific real asset manager.
Antoine Mesnage, head of Asia-Pacific at BNP Paribas Asset Management Alts, said: “Following a dynamic year of development and investment across Japan, BNPP AM Alts has further expanded and diversified its Japanese real estate portfolio, focusing on assets driven by long-term social trends that deliver robust returns for our clients.
“Looking ahead, we aim to continue to invest in asset classes underpinned by strong growth in occupier demand and favourable through-the-cycle trends, as illustrated by our acquisition of a stake in Sachiura DC3. Located in Yokohama, the asset benefits from a strong customer and labour catchment and is well-positioned to attract leading industrial and logistics occupiers seeking to leverage the region’s enhanced transport connections.”
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