AXA Investment Managers – Real Assets has completed, on behalf of clients, the acquisition of a residential tower in Nagoya, Japan’s third-largest city, from a Japanese real estate company.
Known as S-FORT Sanno, the 11-story building comprises 230 rental units with private balconies, and parking for 95 cars. Constructed in 2008, the 8,778-square-meter (94,500-square-foot) property has been well maintained and stands in good condition, with attractive modern interiors.
Nagoya is the center of Chukyo metropolitan area, the third largest in Japan with a population of 9.5 million. S-FORT Sanno is well-located 2 kilometers (1.2 miles) south of Nagoya’s commercial business district. It benefits from being a six-minute walk from Sanno Station, which is just one stop away from the larger Nagoya station and the Tokaido Shinkansen bullet train, which connects to Tokyo in 100 minutes and Osaka in 50 minutes.
The Nagoya residential market is characterized by a shor
