The real estate fund management arm of U.K.-based M&G Investments has made its fourth residential portfolio acquisition in Japan in five years.
M&G Real Estate has acquired a $57 million (¥6 trillion) residential portfolio of three assets in Kobe and Nagoya, Japan, the firm announced in a press release on Tuesday.
The acquisition, which comprises 307 multi-family residential units, supports the firm's core Asia property strategy for institutional investors by providing stable and core income to investors, the statement said. M&G Real Estate first invested in Japan's real estate sector five years ago. With the three assets, the firm's portfolio now comprises 23 buildings with more than 1700 units and over 67,000 square meters.
«Japan’s residential market, particularly in key metropolitan cities, remains robust and resilient and we will continue to focus on acquiring assets that provide stable and core income to our investors,» said Richard van den Berg, who manages M&G Real Estate's core Asia property strategy.
