CBREGI and Universal-Investment make acquisition in Japan
CBRE Global Investors and Universal-Investment have acquired an office building in Osaka, Japan, for an institutional special real estate fund administered and managed on behalf of Bayerische Versorgungskammer, one of Germany’s biggest institutional investors. The investment volume is in excess of €100 million ($111 million). A sales price and seller were not disclosed in the official announcement.
The purchase marks the fifth investment CBRE Global Investors has made for BVK globally and the first in Asia since being selected as BVK’s investment manager for its global mandate.
To date, about 12 percent of the roughly €3 billion ($3.3 billion) in real estate assets administered through Universal-Investment’s platform are invested in Asian properties.
The acquisition follows Universal-Investment and CBRE Global Investors’ acquisition of a 50 percent stake in three logistics centers in Indianapolis. The three ful