Patrizia launches Japanese residential real estate fund with Kenzo

Patrizia has launched a new fund with a target investment volume of €480 million through €550 million ($570 million through $653 million) on behalf of Kenzo Japan Real Estate GmbH, Munich and with Kenzo Capital Corp., Tokyo as the asset manager.

The fund will provide exclusively German institutional investors with access to the Japanese residential real estate market. This is its first investment fund dedicated to Japanese residential real estate for German institutional investors.

In addition to launching the fund, PATRIZIA has been awarded the fund administration mandate and will be retained as a service provider, a model that Patrizia has already planned to further expand.

The fund has already made its first investments, comprising four prime assets in Tokyo and has identified an extensive pipeline of potential acquisitions.