Bayerische Versorgungskammer (BVK), the €77bn German pension investor, has invested in a new 42,000sqm logistics property in Japan.
CBRE Global Investors and German fund service company Universal-Investment have paid an undisclosed sum to buy the fully-leased logistics property in the vicinity of Kobe, on behalf of BVK.
Tetsuya Fujita, managing director and head of CBRE Global Investors Japan, said the acquired asset will enhance the diversity of the client’s portfolio and reinforce income resilience against “possible market corrections, backed by the increasing demand for the modern logistics facilities in this market.”
Jean-Antoine Robert, portfolio manager for CBRE Global Investors, said: “The acquisition fits our portfolio strategy to increase the allocation to logistics and continue regional diversification
“Japan offers attractive opportunities for European investors relative to other developed markets, driven in part by evolving local standards and user expectations that channel demand towards quality commercial and residential space.”