AXA Investment Managers – Real Assets has formed a new long-term Japanese core logistics joint venture with ESR, a leading Asia Pacific logistics real estate platform, alongside a leading sovereign wealth fund, through the acquisition of a portfolio of six modern logistics assets in Japan for more than ¥100 billion ($922 million).
“This transaction represents a rare opportunity for us to not only invest in a large and well-established logistics portfolio in high-demand locations that serve Japan’s two largest cities, but also establish a new joint venture with two like-minded investors,” said Laurent Jacquemin, head of Asia Pacific at AXA IM – Real Assets. “Internet retailing continues to grow in Japan but the level of penetration is low compared to many other global markets, underpinning our confidence that building a portfolio of well-located modern logistics assets will allow us to deliver secure income returns over the long term for our clients.”
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