Gaw Capital Partners has acquired a 253,200sqm portfolio of seven fully-let logistics assets across Greater Tokyo, Japan from Blackstone.
The transaction price was not disclosed but was reported to be around ¥80bn (€561m).
The acquisition on behalf of a Gaw-managed fund is the fund’s first portfolio deal in Japan.
The assets are located in Chiba, Joso, Hasuda, Hashimoto, Atsugi and Ashikaga.
Isabella Lo, managing director and head of Japan at Gaw Capital, said logistics assets in Japan continued to mature as an institutional asset class, increasingly attracting capital from both domestic and international investors.
Joseph Chan, managing director, principal – investments at Gaw Capital, said: “We see strong value-add potential in several properties across the portfolio.
“We will integrate ESG elements, such as adding solar panels across the portfolio to reduce the carbon footprint of daily warehouse operations, and obtain certification in green building rating programmes,” he said.
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