Heitman has entered the Osaka multifamily market acquiring three apartment buildings in neighbourhoods across Japan’s second-largest city for an undisclosed price.
The assets with a total of 257 units located in the Abeno, Fukushima and Bentencho submarkets of Osaka deepen Heitman’s commitment to Japan where it bought a portfolio of eight residential buildings in 2021.
Gordon Black, senior MD and portfolio manager for Heitman global real estate strategies, said: “We have identified Japanese multifamily residential real estate as a compelling addition to our Asia-Pacific portfolio, given the resilient demand drivers and cash flows that typically provide strategic shields against inflation.”
Black said as the Japan real estate market continued to exhibit robust potential, Heitman would continue to evaluate opportunities in regional Japanese markets that complemented its existing portfolio.
Tomoo Suzuki, vice president of acquisitions at Heitman, said: “This transaction aligns with our acquisition strategy, which prioritises top-tier properties.
“Our focus remains on acquiring attractive assets and we maintain a positive outlook on the Japanese real estate market, driven by its liquidity and appealing interest rates.”
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