J.P. Morgan Global Alternatives closes Japan multifamily fund II

J.P. Morgan Asset Management has closed its Japan Multifamily Fund II, raising $375 million in equity capital from a number of global institutional investors providing a total investment capacity of approximately $1 billion.

The fund is the second in a series of dedicated closed-end, core to core-plus Japan Multifamily investment vehicles from J.P. Morgan Global Alternatives. The platform’s Japan portfolios include more than 5,000 apartment units in more than 90 properties.

The new fund is investing in a diversified portfolio of quality, multifamily residential assets in Japan’s major cities, with more than 70 percent of assets in Tokyo and Osaka. It was designed to capitalize on valuable investment opportunities created by Japan’s demographic changes, such as population migration from regional to large urban areas and an accompanying increase in the number of small households, which are driving outsized demand for studio and one-bedroom rental units. With more t