Tokyo Multifamily Partnership, a venture managed by Nuveen Real Estate and Kenedix with backing from Dutch pension fund manager Bouwinvest, have acquired seven newly developed multifamily assets in Tokyo, comprising 428 units, for $226 million.
Located in a highly sought-after neighborhood in central Tokyo, the assets are well positioned to benefit from strong public transportation links to the central business district, targeting middle- to upper-middle income households. The most significant property within the portfolio is located in Shinjuku and comprises 18-stories and 100 units.
The investment is the fourth for the partnership, which formed two years ago. The partnership has closed $320 million to date from three institutional investors, including founding investor Bouwinvest, and TIAA.
Shu Watanabe, head of Japan for Nuveen Real Estate, commented, “Through our partnership with Kenedix and Bouwinvest, we have been able to make a series of strategic trans
