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SilkRoad Property Partners acquires six assets in Tokyo for $150m
Singapore-based SilkRoad Property Partners has paid JPY 19.5 billion ($150 million) for six assets in Tokyo, marking the firm’s foray into the Japanese market. The multiple sellers were not disclosed.
The group of properties includes a nine-story grade B office building in central Tokyo and five multifamily assets in major commuter cities around the capital, according to Mingtiandi. SilkRoad has plans to undertake a series of renovations to reposition the building into a grade B+ or A asset. The multifamily portfolio consists of three existing buildings and two forward commitments, with a total of 314 units.
“As a company, it has long been our aspiration to have an active presence in the second-largest real estate market in the world,” said Peter Wittendorp, CEO of SilkRoad. “These acquisitions are just a first, promising step. We are looking to do a lot more in Japan.”
The assets were acquired for the SilkRoad Asia Value Partners II fund, whi