AXA IM Alts buys €423m of multifamily and purpose-built student accommodation assets in Japan

AXA IM Alts has bought €423 million ($421.7 million) of Japanese residential assets.

The two separate transactions comprise a portfolio of 29 multifamily residential assets and a portfolio of four student accommodation assets. Both acquisitions have been made on behalf of clients through AXA IM Alts.

The 1,482-unit multifamily portfolio comprises 29 high-quality assets, all of which have been built in the last two years, with a high weighting to studio apartments. The majority of the assets feature shared common facilities including auto-locking entrances, delivery boxes and high-quality interiors. The portfolio is located in high-density neighborhoods within Greater Tokyo and Osaka, all of which have excellent transport links to the CBD.

The student accommodation portfolio comprises four newly constructed properties totaling 539 studio apartments. It is operated by National Students Information Centre, one of the largest student housing operators in Japan.