CapitaLand Investment Limited (CLI) has secured fresh capital commitments from new and existing institutional investors for its value-added lodging private fund, CapitaLand Ascott Residence Asia Fund II (CLARA II).
This reflects the continued strong investor interest in the fund’s strategy to reposition underutilized assets into high-performing living assets in key Asia Pacific gateway cities.
CLARA II and its co-investors have acquired a prime mixed-use asset in Tokyo at more than JPY30 billion ($207 million). This is CLARA II’s third asset and second in Japan. Based on latest capital commitments, CLI’s funds under management will also increase by approximately S$470 million ($365 million) as a result. CLI holds about 20 percent stake in the fund as part of its asset-light strategy and to maintain strong alignment of interests with its capital partners.
The prime mixed-use asset is in Shinjuku, one of Tokyo’s most popular shopping, entertainment and bus
