Asia real estate fund manager SilkRoad Property Partners has invested JPY19.5bn (€133bn) to buy six assets in Japan for a value-add fund.
SilkRoad said the acquired assets comprise an office building in Central Tokyo and five multi-family assets in major commuter cities in Greater Tokyo.
Peter Wittendorp, CEO at SilkRoad, said: “As a company, it has long been our aspiration to have an active presence in the second largest real estate market in the world. These acquisitions are just a first, promising step. We are looking to do a lot more in Japan.”
Iris Mak, executive director and head of Japan at SilkRoad, said: “We are delighted to have acquired these deals successfully despite the challenges of the pandemic. We believe this well-diversified portfolio would benefit from our value-add strategies and focus on ESG principles.”
The assets were acquired for SilkRoad Asia Value Partners II, the manager’s third value added fund.
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