Axa IM Alts acquires Japan residential assets

Osaka skylineAxa IM Alts has bolstered its Asian real estate portfolio following the purchase of two residential assets in Osaka, Japan. The properties were bought from PGIM Real Estate Japan for ¥10.6 billion (US$93 million). The acquisition increases Axa IM Alts’ Japanese real assets portfolio to just shy of $3 billion. According to Axa IM Alts, the purchases are part of a wider strategy to invest in residential asset classes supported by “strong demographic drivers”. Osaka has the second highest GDP of Japan’s cities and has experienced steady population growth over the last two decades, along with residential occupancy levels of more than 90% since 2008. © 2021 funds global asia

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