ESR closes Japan Logistics Fund III

ESR, an Asia Pacific–focused logistics real estate platform, has announced the closing of ESR Japan Logistics Fund 3 (RJLF3) with initial capacity to capitalize up to ¥200 billion ($1.8 billion) of real estate projects from the ESR development pipeline in Greater Tokyo, Osaka and Nagoya.

RJLF3 brings together two partners for a total initial equity of ¥70 billion ($630 million). The partners have a commitment expansion option that would bring the total investment capacity to as much as ¥530 billion ($4.8 billion) over time.

The fund will focus on the development of large-scale, state-of-the-art logistics facilities in the largest metropolitan areas of Japan.