PATRIZIA launches $1b Japanese multifamily fund

PATRIZIA has announced a strategic partnership with a major Asian institutional investor to invest up to ¥150 billion (€1.04 billion/$1.08 billion) in Japanese real estate, according to the company’s release.

With the fresh firepower, PATRIZIA aims to significantly increase its assets under management in Japan and accelerate the company toward its midterm growth ambition of ¥300 billion (€2.07 billion/$2.15 billion) of Japanese AUM by 2027.

The dedicated fund, in which PATRIZIA will co-invest, will target residential assets in Tokyo, the world’s largest metropolitan area, as well as other major cities and metropolitan areas across Japan. The investment strategy will focus on core-plus and value-add opportunities in the multifamily sector, while an active asset management strategy on the ground will drive value through the renovation of units, new exterior designs and effective operations.

“Japan is an incredibly attractive market thanks to the larg