Axa Im Invests $418m In Japanese Multi-Family, Student Housing
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- 21 Sep 2022
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AXA IM Alts, a prolific investor in Japanese real estate, has revisited the theme in a bold way with the acquisition of two residential portfolios totalling €423 million ($418 million) in value.
The real estate fund management division of AXA Investment Managers picked up 29 multi-family residential properties and four student accommodation assets in two separate transactions, the French firm announced Monday in a release.
The 1,482-unit multi-family portfolio is spread across high-density neighbourhoods within Greater Tokyo and Osaka, while the student housing assets comprise 539 studio apartments near universities in Greater Tokyo.
“These transactions extend our residential footprint in two of Japan’s most densely populated cities, where demand for high-quality residential units significantly exceeds current supply,” said Laurent Jacquemin, AXA IM Alts’ head of Asia Pacific. “Against a volatile macroeconomic backdrop, the highly defensive build-to-rent and student accommodation sectors are two of AXA IM Alts’ strong conviction calls, reflecting their favourable demographic and societal drivers and attractive income and capital growth characteristics.”
Driven by Demographics
Both portfolio acquisitions were made on behalf of clients by AXA IM Alts, which has €188 billion in assets under management worldwide. Read More...
