Tokyo-based Ascot Corp., an associate of Ping An Group, has formed the first private fund for Japanese real estate through a joint venture with global institutional investors.
The fund will invest in multifamily residential, senior living facilities and student housing in the Tokyo metropolitan area. The portfolio of the Fund No. 1 consists of nine properties, primarily multifamily residential developed by Ascot. In the near future, Ascot plans to expand the scope of its fund in collaboration with global institutional investors.
As part of its midterm growth strategy, Ascot aims to further expand its business by forming joint venture funds with domestic and foreign investors and new private funds, as well as by entering the REIT and other businesses.
“Ascot Corp. is the first real estate company in Japan invested by Ping An Group,” said Takeshi Nakabayashi, president of Ping An Japan Investment Co. “We have high expectations for the growth of Ascot's new g
