Transactions - NOVEMBER 2, 2015

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Lone Star buys Japanese portfolio for $370m

by Andrea Waitrovich

Triangle TMK, a Japanese affiliate of Lone Star Real Estate Fund IV and Lone Star Funds, is under contract to acquire all the real estate assets in Saizen REIT’s portfolio in Japan for S$517.3 million ($370 million).

Saizen REIT’s portfolio consists of 136 residential properties located in 14 Japanese cities: Fukuoka, Hakodate, Hiroshima, Kagoshima, Kitakyushu, Koriyama, Kumamoto, Kurashiki, Morioka, Niigata, Oita, Sapporo, Sendai and Tokyo. Only four of the assets are located in Tokyo. The transaction was will be completed in the first quarter of 2016.

Lone Star Real Estate Fund IV, sponsored by Lone Star Funds, closed in April 2015 with committed capital of $5.8 billion. Lone Star Japan Acquisitions Ltd. and Triangle TMK are Japanese affiliates of Lone Star Real Estate Fund IV and Lone Star Funds.

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