Proprium Capital Partners launches $600m Japanese multifamily venture

Proprium Capital Partners has entered into definitive agreements to establish a multifamily property investment venture with Proprium Capital Partners, Manulife Investment Management and Mubadala Investment Company.

The venture will partner with Samurai Capital, an asset manager with significant experience in managing multifamily assets in Japan, and intends to assemble a portfolio worth as much as JPY 80 billion ($568 million).

The joint venture was seeded with existing rental multifamily properties in Japan and will seek to acquire additional assets. Targeting urban dwellers in Tokyo and Osaka, the seed assets are high-quality stabilized properties with convenient access to railway stations and nearby neighborhood amenities.

Sustainability will form a core focus of the venture, from the construction stage through tenant-engagement schemes to reduce the carbon footprint of the properties. The objective of the partnership is to acquire assets that deliver afford