CapitaLand Investment Fund enters Japanese multifamily sector, makes key appointments

CapitaLand Investment Limited (CLI) has entered into a forward purchase agreement with an established Osaka-based residential developer to acquire six multifamily assets in Central Osaka, Japan, at a purchase price of S$141.4 million ($106.1 million) for its flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF).

The deal marks COREF’s entry into the multifamily sector.

Tan Lai Seng, managing director for Japan, CLI, said, “CLI has more than 20 years of experience in Japan, and we are pleased to source and execute this off-market deal for COREF in Japan’s sought-after multifamily sector that has seen increasing interest from international investors. As part of our thematic strategy to invest in the multifamily sector, the Group has to date deployed about S$1.1 billion [$826 million] in Japan across 60 properties through its various investment vehicles. Including the six newly acquired multifamily properties by COREF and another three multi