Brookfield has invested $1.6bn (€1.53bn) in Japanese real estate, acquiring a stake in the Gajoen mixed-use complex in Central Tokyo and a logistics development project in Greater Nagoya.
The asset manager said its Japanese team will manage the dual office tower, retail and luxury hotel Gajoen complex in Meguro, with plans for renovation and active asset management.
In Anpachi, Brookfield has also acquired the 1m sqft land plot to develop a 2.4m sqft premium-grade warehouse, with construction expected to begin in the first half of 2025 and complete by early 2027.
Ankur Gupta, Brookfield head of Asia Pacific and Middle East real estate, said: “These transactions are representative of the opportunities we’ll be seeking in Japan in 2025 as we look to deploy significant real estate capital into the country, particularly in logistics and high-quality office.
“We have unparallelled global pedigree in these sectors and a differentiated approach to working with partners to create value for our investors.”
Ikushin Tsuchida, Brookfield real estate SVP, said: “Leveraging Brookfield’s operational expertise in placemaking and managing large mixed-use assets, we see strong potential to grow Gajoen, while tight vacancy will further accelerate the demand of logistics facilities in Greater Nagoya, which will give us an advantage when leasing the Anpachi Logistics Development.”
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