AXA IM Alts acquires 346-unit Osaka residential portfolio

AXA IM Alts has acquired a portfolio of two residential assets in Osaka, Japan, from PGIM Real Estate Japan, the asset management arm of American life insurance company Prudential Financial, for ¥10.6 billion (€82 million/$95 million).

The portfolio consists of two well-located residential buildings offering a total of 346 studio to four-bedroom apartments for the rental market. The first property, located in the Nishi Umeda district of Osaka, contains 214 apartments with a total leasable area of 10,000 square meters (107,640 square feet). Known as Zeus Nishi Umeda, the high-specification asset boasts bespoke interior design, a 70-space car park and presents a range of floor plans that are designed to support a diverse tenant base. Nishi Umeda is an affluent residential area one kilometer (.62 mile) from Osaka’s CBD. It benefits from easy access to the city’s thriving retail hub of Shinsaibashi, as well as the key office districts of Umeda and Honmachi, and the Yodoyab