M&G Real Estate and the ESR have formed a long-term partnership on behalf of the M&G Asia Property Fund, to develop a portfolio of logistics properties across Tokyo, Osaka and Nagoya, Japan.
The partnership, for which M&G intends to deploy as much as $350 million in equity, is expected to expand the ESR-managed and M&G-invested logistics portfolio to more than $1 billion in gross-asset value.
“The logistics sector is an important part of Japan’s economy and demand for state-of-the-art facilities remains robust. M&G Real Estate has been active in this space for many years and we are delighted to formalize our longstanding relationship with ESR, an eminent logistics expert, leveraging on their capabilities to capitalize on strong market demand for high-quality assets in this space,” said Jing Dong (JD) Lai, CEO & CIO, Asia at M&G Real Estate.
The latest project builds on M&G’s expanding relationship with ESR, where both fi
