ESR Japan Income Fund completes first acquisition in Nagoya
ESR Japan Income Fund, managed by ESR Group, APAC’s largest real asset manager powered by the new economy, has completed the acquisition of 100 percent of the trust beneficiary interest in ESR Aisai Distribution Center (ESR Aisai DC), a four-story single-ramped facility located in Nagoya, from ESR Japan Logistics Fund III (RJLF 3) for JPY 16.4 billion ($110 million).
Established in 2021, JIF is ESR’s ﬂagship Japan logistics fund which focuses on investing in stabilized state-of-the-art core logistics assets in the greater urban areas of Tokyo, Osaka, Nagoya and Fukuoka. Established in 2019, RJLF 3 is a development joint venture that focuses on the development of premium large-scale logistics facilities in the major metropolitan areas of Japan.
ESR Aisai DC has a net rentable area of approximately 58,000 square meters and is strategically positioned with convenient access to key arterial expressways. It is also fully occupied by a diverse mix of well-known third