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Sign in Sign up for a FREE subscriptionESR completes closings of $1.2b of equity for Japan developments
ESR, a pan-Asia logistics real estate developer, owner and operator, has completed the fund raise of its most recent Japan fund with a total tally in excess of its $500 million target, which when combined with closed co-investment vehicles totals $1.2 billion of equity closings for new Japan developments.
RJLF2 (Redwood Japan Logistics Fund 2) recently conducted its final closing, increasing total discretionary fund commitments to $575 million after German insurance company Allianz upsized its earlier commitment to a total circa $185 million.
Other RJLF2 investors include a leading Southeast Asian pension fund that made a $200 million inaugural fund commitment, State Oil Fund of Azerbaijan (SOFAZ), a fund managed by Aviva Investors, and a German pension fund advised by Mercer, which is already invested with ESR in the predecessor fund RJLF1.
Projects undertaken by RJLF2 have also attracted co-investment capital from a leading U.S. pension fund, a major Asian ins