Real estate fund manager Savills IM has invested US$218 million to expand its portfolio of Japanese residential properties.
The Savills IM Japan Residential Fund II has acquired or committed to acquire 27 properties since its inception. Of these, 24 are located in the Greater Tokyo area.
The investment brings the total value of Savills IM Japan Residential Fund assets, which was launched in November 2020, to $390 million.
The recent purchases follow a $40 million capital injection from its cornerstone investor and the fund says it has the capacity to take on new investors.
Tom Silecchia, co-head of Savills IM Japan said: “We have a strong pipeline of high-quality acquisitions and the capacity to considerably increase the size of the fund without compromising quality.”
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