AXA IM Alts acquires nursing home portfolio in Japan

AXA IM Alts has acquired a portfolio of two nursing homes in Japan, on behalf of clients. Financial terms were not disclosed.

The portfolio comprises more than 170 newly developed and purpose-built assisted living bedrooms, split between two assets in Kyoto and Nishinomiya, both of which are strategically located in Greater Osaka, which has strong demographic drivers supporting demand for elderly care accommodation.

This acquisition marks the business’ second transaction in this sector in Japan and closely follows AXA IM Alts’ entry into the Japanese healthcare market in December 2022, through the acquisition of a portfolio of 15 nursing homes, located across Tokyo, Osaka and Aichi, for €156 million ($170 million).

AXA IM Alts has more than €186 billion ($202 billion) of assets under management.