Hines makes first investment in Japan’s multifamily sector

Hines Asia Property Partners (HAPP), the firm’s flagship commingled Asia Pacific core-plus fund, has acquired 11 multifamily properties in Japan. Totaling more than 14,000 square meters (151,000 square feet) and more than 400 units in Tokyo, Nagoya and Fukuoka, the first multifamily investment for HAPP in Asia Pacific marks the beginning of a series of acquisitions by the Fund to amass a portfolio of rental multifamily assets in Japan.

“We have seen an increased demand for multifamily properties in Asia Pacific, so we have identified strategic opportunities like these to deliver high-quality products to the rental market,” said Chiang Ling Ng, CIO, Asia, at Hines. “These acquisitions in Japan should help increase Hines’ growing portfolio in the region while also expanding our investors’ exposure to the vibrant and increasingly popular multifamily sector across Asia Pacific.”

The acquisitions are the start of HAPP’s living aggregation strategy for Japan,