M&G Real Estate buys two properties in Japan
M&G Real Estate has purchased two properties in Japan, comprising the acquisition of a retail asset in Fukuoka and a mixed portfolio of residential assets for a combined total of $123.6 million.
The acquisitions were made on behalf of M&G Real Estate’s core Asia property strategy. Upon completion of the acquisitions, Japan will account for 18 percent of the firm’s core Asia real estate strategy in terms of gross asset value, up from 17 percent in 2014.
M&G Real Estate has developed a strong presence in the Asia Pacific property market. Its portfolio in the region currently comprises 30 assets in 19 projects across five countries in the region. It has invested or committed approximately $480 million in Asia Pacific as of end-2015.
Japan is a key focus for M&G Real Estate’s Asia property strategy. In 2014, the company acquired 12 residential properties and an office building in Japan as part of its strategy to improve l