As part of its core Asia strategy M&G Real Estate has invested in a Japanese logistics development, its second foray into the country in a matter of months.
The real estate fund management arm of M&G Investments has purchased a site in Kanagawa for development of a four-storey logistics hub, according to a press release sent to finews.asia.
M&G Real Estate invested in the site south of Tokyo, for its core Asia real estate investment strategy. The latest acquisition is the asset manager’s sixth logistics deal in the Asia Pacific region. The firm's additional exposure to Japan is in line with M&G's current allocation requirements.
Japan Remains a Key Asian Market
«Japan has always been a key market for M&G, the logistics space in Japan offers attractive yield opportunities, in light of increasing consumer traffic, space scarcity and a limited supply of such assets,» said Chiang Ling Ng, (pictured) Chief Executive and CIO at M&G Real Estate Asia.
M&G Real Estate completed two transactions in Japan including the acquisition of a retail asset in Fukuoka and a mixed portfolio of residential assets in Japan for JPY13.1bn in September last year.
