Brookfield acquires 50-asset multifamily portfolio in Japan
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T he portfolio comprises approximately 3,700 residential units located in Japan's four largest metropolitan markets: Greater Tokyo, Greater Osaka, Nagoya and Fukuoka. The transaction is expected to be one of the largest acquisitions of multifamily assets in Japan this year and provides Brookfield with immediate scale in a sector where it has extensive global expertise and a strong track record. Brookfield Head of Japan Real Estate Ikushin Tsuchida told RETalk Asia: "Multifamily is one of Japan's most compelling real estate sectors, underpinned by long-term urbanisation, resilient housing demand and constrained new supply. We're pleased to establish Brookfield's presence in the sector in Japan through a high-quality portfolio that aligns with our long-term investment strategy. Brookfield is well positioned to grow the portfolio in Japan – drawing upon our global expertise – and deliver a high-quality living experience for residents." With an average asset age of less than four years, the portfolio consists primarily of recently completed residential buildings in prime urban locations with strong transport connectivity. The assets are approximately 96% occupied and are geographically diversified across Japan's four largest metropolitan markets, providing exposure to resilient housing demand across the country's key economic centres. Globally, Brookfield has significant...
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