Manulife Investment Management and Kenedix has announced the successful acquisition of a JPY 23 billion ($158.7 million) nine-asset, high-quality multifamily portfolio in Japan.
The joint venture has entered into sale and purchase agreements to acquire a portfolio of income-generating multifamily assets located in Greater Tokyo and Greater Osaka that offers residents convenient access to railway stations and neighborhood amenities. With an average age of less than one year, the newly completed assets comprise 564 modern rental units spanning approximately 29,000 square meters (312,153 square feet) of total gross area. The joint venture has acquired eight assets in July 2024, with the remaining asset to be closed in early 2025.
Since its launch in 2022, the joint venture formed by Manulife and Kenedix has aggregated a high-quality and stable multifamily portfolio in Japan. The
