AXA IM Alts buys Tokyo property

Tokyo 2Global asset managers’ appetite for Japanese property shows no sign of abating with AXA IM Alts the latest firm to invest in the sector. The firm has spent ¥6.9 billion (US$55 million) to acquire two residential properties in Tokyo. The properties comprise 158 apartments covering 5,400 sq metres. The transaction is AXA IM Alts fifteenth acquisition in Japan over the past year and takes the value of its Japanese real estate portfolio to $3.28 billion.  “This transaction further extends our residential portfolio in Japan’s most populous city, adding into the portfolio two assets both benefitting from prime locations and strong local infrastructure,” said Laurent Jacquemin, head of Asia-Pacific at AXA IM Alts. “This acquisition is in line with AXA IM Alts’ wider long-term strategy to invest into residential asset classes which it believes are supported by favourable residential market fundamentals,” he added. © 2022 funds global asia

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