The newly launched Japan Logistics Venture, which is majority-owned by Ivanhoé Cambridge, will develop and acquire core logistics facilities mostly in urban and last-mile locations, the pair said, adding that the platform has already identified a pipeline of opportunities for its investment program.
George Agethen, senior VP Asia-Pacific at Ivanhoé Cambridge, said: “Logistics has proven to be highly resilient during this pandemic and will remain a key focus in the coming years, especially in Asia Pacific, where we are already invested in Singapore, Australia, China, India and Indonesia.
“We’re delighted to launch this new investment strategy in Japan and this venture will significantly accelerate our capacity to grow and diversify our portfolio in this key Asian market.”
Jon Paul Toppino, PAG Group president and managing partner of PAG Real Estate, said: “PAG has been investing in Japan real estate since 1997, with a comprehensive knowledge of local markets and a strong track record.
“We expect the logistics sector in Japan to remain a durable and attractive opportunity, and we look forward to working with Ivanhoé Cambridge as they continue to grow their portfolio in the region.”
The companies said the joint venture reinforces the strategic partnership between Ivanhoé Cambridge and PAG, which started with an initial investment in 2017.
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