Fundraising - MARCH 6, 2017

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IDERA, PGGM JV holds €210m final close on Japan residential fund

by Jody Barhanovich

IDERA Capital Management, a Japan-based real estate manager, in a joint venture with PGGM, a Dutch multi-asset pension manager, has held a €210 million ($222.5 million) final close for Japan Residential Property Fund, reaching its fundraising target.

The real estate fund will invest in residential properties across Japan, with particular focus in the greater Tokyo region and the major urban cities of Japan.

The Japan Residential Property Fund is the largest vehicle IDERA has raised for its Japanese residential series so far.Japan Residential Investment Club II held a $40 million final close in 2015, coming in below its $60 million fundraising target. It held an initial close in July 2014, receiving funds from two European investors, and acquired two multifamily properties in Osaka and Kyoto. Japan Residential Investment Club I closed in March 2013.

IDERA Capital focuses mostly on real estate investments including commingled fund management, club deal investmen

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