LaSalle Investment Management has acquired a total of 10 properties, one logistics facility and nine multifamily assets, for approximately JPY 35 billion ($321 million) through its flagship open-end private core fund, LaSalle Japan Property Fund (LJPF), raising its total assets under management to more than JPY 157 billion ($1.44 billion).
“These are attractive, well-located, quality assets that diversify the portfolio and will provide a steady income,” said Keith Fujii, head of Asia Pacific at LaSalle Investment Management. “In Tokyo, despite the pandemic, we are seeing relatively stable wages and tight labor markets, which will continue to support the multifamily sector. In the logistics sector, positive real estate fundamentals, continued ecommerce penetration and our ability to execute successfully are the reasons why we find this sector desirable.”
The 10 newly acquired properties include one large-scale logistics facility located in the Osaka metropolit
