AXA IM Alts has acquired, on behalf of clients, two residential towers in Sendai City, Northern Japan, for ¥4.2 billion (€34 million/$42 million).
Totaling 10,000-square-meters (tk-square-feet), the portfolio is located in Sendai City, the regional capital of Tohoku, Northern Japan. Known as S-Fort Katahira, the first property totals 191 rental units spread across 13 stories, while the second building, S-Fort Miyamachi, totals 91 rental units across 10 stories. The buildings have been designed to appeal to young single occupants, including students, and dual-income couples due to their affordable rents and proximity to both the city center and nearby Tohoku University.
The portfolio is strategically situated on the outskirts of the city’s CBD, which has been selected by a number of major corporations as the preferred location for satellite offices, helping Sendai to retain the largest GDP within the Tohoku region. The towers are within walking distance of the Ichi
