CapitaLand Investment Limited (CLI) has raised raised ¥16.5bn (€106m) for its new core logistics private fund in Japan.
The fund attracted several institutional capital partners in Japan and has been fully deployed to acquire two logistics assets located in Greater Tokyo and Osaka from CLI and its joint venture partner.
CLI holds a minority stake in the fund and will continue to serve as the asset manager of the two logistics properties.
Separately, CLI has also acquired other assets in Thailand and Singapore for other funds that the group manages, for a combined value of S$700m (€484.1m).
CLI bought two industrial properties in Singapore for self-storage platform, Extra Space Asia, and a 20-hectare freehold greenfield site in Bangkok, known as OMEGA 1 Bang Na, for CapitaLand SEA Logistics Fund (CSLF).
The development site is the first asset for CSLF, which held its first fund close in February 2023.
The Thai project will be CLI’s first logistics property in Thailand.
The manager has also purchased two properties to be converted into self-storage facilities in phases for its ESA platform, one of the largest self-storage operators in Asia with more than 800 facilities.
Patricia Goh, CEO, Southeast Asia Investment, CapitaLand Investment, said: “Despite the challenging market conditions, we have made tremendous progress in deploying capital strategically across Southeast Asia over the past year into assets catering to self-storage, logistics and wellness-hospitality sectors.”
Goh said these sectors had demonstrated strong secular growth in this region and aligned with CLI’s thematic focus of investing in real estate driven by long term mega trends.
“Looking ahead, these latest acquisitions are set to fuel the next stage of growth for each of these CLI-managed funds. We will continue to identify investment opportunities in Singapore, Thailand, and other markets in Southeast Asia, building on our momentum and driving further transformation and growth.”
To read the latest IPE Real Assets magazine click here.