Lone Star Funds has announced that an affiliate of Lone Star Real Estate Fund VII, L.P has successfully completed the acquisition of a multi-family residential portfolio (a total of 1,166 units) in central Tokyo.
Located in the Shinkawa and Tsukuda submarkets of Chuo Ward in Central Tokyo, the portfolio consists of a 35-story, 505-unit residential tower and a separate campus of five buildings, four residential and one retail, totaling 661 units and nine retail tenants. The properties, which sit along a waterfront residential area, have excellent access to the key central business districts and are conveniently located within a brief walk from the closest train station.
Lone Star will invest in the properties through a targeted capital expenditure program to continue to drive appeal to existing tenants and attract new renters with amenity upgrades. Lone Star has executed similar value-add investments in Tokyo, successfully upgrading properties and increasing net operati
