AXA IM Alts acquires two residential assets in Tokyo for €51m

AXA IM Alts has acquired two residential assets in Tokyo for €51.2 million ($54.58 million).

“This transaction further extends our residential portfolio in Japan’s most populous city, adding into the portfolio two assets both benefitting from prime locations and strong local infrastructure. This acquisition is in line with AXA IM Alts’ wider long-term strategy to invest into residential asset classes, which it believes are supported by favorable residential market fundamentals,” said Laurent Jacquemin, head of Asia Pacific at AXA IM Alts.

Comprising 158 studio, one- and two-bed rental apartments, presenting high-quality interior designs, across a total net internal area of 58,000 square feet, the portfolio consists of two premium, well-located assets with appealing local amenities.

The first property, Sugamo 3, is located in Tokyo’s Sugamo neighborhood, a vibrant submarket famed for its retail offering and favored by singles and DINKs (Dual Income, N