Alyssa Partners, Invesco Real Estate acquire 15-property residential portfolio in Japan
Alyssa Partners and Invesco Real Estate have acquired a portfolio of residential assets located in Japan from a major Japanese real estate developer in a joint venture deal. For Invesco Real Estate, the acquisition was made on behalf of the firm’s core investment program in the region.
The portfolio consists of 15 newly built, high-quality multifamily properties located in the four major Japanese cities of Tokyo, Osaka, Nagoya and Fukuoka. The assets within the portfolio have an average age of less than one year and comprise 1,258 apartment units with a total gross area of circa 42,200 square meters (454,240 square feet). All properties are within 10 minutes or less walking distance to metro and/or JR stations.
Japanese multifamily residential assets are a long-term investment opportunity for global real estate investors, with competitive yields and a favorable growth outlook. City-centered migration and falling vacancy rates across major cities has been a multi-deca