M&G Real Estate has acquired a residential portfolio comprising four properties located across Chiba, Fukuoka, and Osaka, Japan, for $83.7 million.
These acquisitions were made on behalf of M&G’s core Asia property strategy managed by Richard van den Berg and mark its fifth residential acquisition.
“This acquisition is in line with our strategy to increase exposure to Japan’s residential market focusing on properties in major and growing cities and provide stable and core income to investors,” said Chiang Ling Ng, CEO and CIO of M&G Real Estate, Asia. “Japan’s residential markets, particularly multifamily residential assets in Greater Tokyo and key regional cities such as Osaka, Chiba, and Fukuoka, are providing attractive income opportunities as the key cities of Japan are expected to continue and support ongoing demand for rental housing.”
The portfolio comprises 561 individual homes in four different assets across Osaka, Chiba, and Fukuoka. All of the properties enjoy prime residential appeal and are almost fully occupied. The assets are relatively new and are strategically located in established residential neighborhoods with convenient access to employment, amenities and transportation to attract young professionals looking for accessibility to the larger cities.
