>

>

/

Allianz acquires Japanese portfolio of residential properties for $1.67 bil

/ EdgeProp Singapore |

October 4, 2019 2:33 PM SGT

Allianz Real Estate, the real estate investment manager within the global Allianz Group, has signed a sale and purchase agreement to acquire from Blackstone-managed funds a portfolio of multi-family residential assets in Japan for EUR1.1 billion ($1.67 billion).

The portfolio of properties comprises 82 assets, or about 4,600 residential units comprising 1.7 million sq ft of net rentable area. All the assets are on a freehold basis, and 78 are located in the four major cities of Tokyo, Osaka, Nagoya, and Fukuoka. The portfolio has a current occupancy rate of 97% and enjoys a well-diversified tenant base.

The acquisition is in line with Allianz’s strategy of acquiring core income-producing assets to hold for the long term, and is a “meaningful exposure” into Japan’s multi-family residential sector, says Rushabh Desai, Asia Pacific CEO of Allianz Real Estate.

“[This is] a sought-after asset class offering one of the highest stabilized yield spreads in the world. Japan is the world’s third largest multi-family residential market with strong urbanization trends coupled with limited net supply in the four major cities,” he says.

The transaction is expected to be completed by the end of the year.

Read also:

Allianz invests $523 mil in 30 Hudson Yards

Allianz Real Estate expands in key markets

Investment sales jump 49% q-o-q to $6.7 bil in 2Q2019

Tags:

offshore Japan Allianz Real Estate multi-family residential acquisition Rushabh Desai Tokyo Osaka Nagoya Fukuoka

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Perennial Holdings and Far East Organization unveil Golden Mile Singapore, and will launch the strata commercial units this month

2

Government ramps up private housing supply; offers three EC sites on Confirmed List

3

Novo Place hits 88.1% as 137 units snapped up in second balloting

4

Project Spotlight: This condo in Ang Mo Kio has 241 profitable and no unprofitable transactions

5

What’s next for Bayshore

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00