Allianz continues to expand residential footprint in Japan

Singapore / Munich, 08/17/2020

Allianz Real Estate, on behalf of the AREAP Core I Fund, has entered into Sale & Purchase Agreement to acquire a portfolio of prime multi-family residential assets in Tokyo for approximately USD 160 million. 

Rushabh Desai, CEO Allianz Real Estate Asia Pacific

Rushabh Desai, CEO Allianz Real Estate Asia Pacific

The portfolio comprises of 18 newly built assets with 380 units offering 12,240 sqm net rentable area. All assets are located in Tokyo 23 wards and are within 10 minutes from a subway station.

This acquisition will be in line with AREAP Core I strategy of building a diversified portfolio of stabilized income producing assets across the Asia-Pacific region. This transaction comes on the back of two other acquisitions in Japan, an 11 asset multi-family residential portfolio in May 2020 and an 82 asset multi-family residential portfolio in November 2019.

“Continued strong performance of our existing multi-family residential portfolio in Japan has validated our conviction about the resiliency of the asset class”, said Rushabh Desai, Asia Pacific CEO of Allianz Real Estate. “Having boots on the ground in Tokyo has further enhanced our sourcing and asset management capabilities.”

Allianz Real Estate AUM in the region amounted to USD 6.2 billion as at the end of December 2019. The Asia- Pacific business’ head office is in Singapore with branches in Tokyo and Shanghai.

Tagged with:

Residential Asia-Pacific

Press Contact:

Claire Fraser
Claire Fraser
Head of Marketing & Communications

Allianz Real Estate GmbH and Allianz Real Estate of America, their subsidiaries and affiliates are known jointly as “Allianz Real Estate”. Allianz Real Estate is a PIMCO company. When introducing a property investment opportunity to Allianz Real Estate you acknowledge that we are under no obligation to accept your introduction or enter into any agreement with you. Fees, commission or other payments in respect of introductions shall only be payable where there is a signed written agreement to that effect entered into between Allianz Real Estate and the introducer. By submitting an introduction to Allianz Real Estate you shall be deemed to have accepted the aforementioned terms.
PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world.  ©2022, PIMCO.