2023/05/03 BY CHRISTOPHER CAILLAVET LEAVE A COMMENT
Hines Asia Property Partners now has 16 multi-family assets, all in Japan (Image: Hines)
US developer Hines on Wednesday announced its acquisition of five multi-family properties in Japan on behalf of the firm’s flagship pan-Asian fund.
Spread across 9,300 square metres (100,104 square feet) and 290 units in Tokyo and Kyoto, the assets will be managed under the sustainability-focused Cavana brand and target urban dwellers in key Japanese cities, Hines said in a release.
Altus - Development Feasibility Banner_780
The acquisition is the second multi-family transaction for the Hines Asia Property Partners core-plus fund, following the purchase of 11 multi-family assets in Japan late last year. Chiang Ling Ng, chief investment officer for Asia at Hines, described the country’s multi-family segment as a resilient non-discretionary sector and a stabiliser for a blended core-plus strategy.
“It is anticipated to be defensive in an inflationary cycle and with positive leveraged yields, these new acquisitions should continue to add to our growing footprint in the region, allowing us to deliver a high-quality portfolio to our investors,” Ng said.
Living Aggregation Strategy
No details were disclosed about the seller or the deal value, but Houston-based Hines said the latest acquisitions are part of HAPP’s living aggregation strategy for Japan, which aims to scale up to $1 billion in asset value in three to five years.
Chiang Ling Ng, chief investment officer for Asia at Hines
Chiang Ling Ng, chief investment officer for Asia at Hines (Image: Hines)
The 11 properties acquired last year span over 14,000 square metres across more than 400 units in Tokyo, Nagoya and Fukuoka. Under the Cavana banner, the projects intend to focus on sustainability initiatives that encourage tenants to conserve water, recycle materials and reduce their carbon footprint.
“The Japan multi-family market remains an attractive investment strategy due to its resiliency of income, stable yield, large number of available investable assets and attractive risk-adjusted returns,” said Jon Tanaka, country head of Japan at Hines.
PropertyGuru - Asia Property Award, China Banner 780
Family-run Hines was founded in 1957 and now operates in 30 countries, managing nearly $96 billion in assets globally.
First-Timers Rush In
The month of April saw more players crowd into Japan’s multi-family arena, with SilkRoad Property Partners announcing the acquisition of five multi-family assets in Greater Tokyo as part of $150 million in deals that also bagged a central Tokyo office building. The transactions marked the Singapore-based firm’s first investments in Japan.
Also last month, Singapore’s CapitaLand Investment agreed to buy six rental housing assets in Osaka for $105.9 million, representing the first multi-family acquisitions for the firm’s flagship regional core-plus fund.
Yardi Real Estate Ecosystem 780x250 3
One of the busiest global investors in Japan real estate, US-based KKR, struck a deal in April to acquire an under-construction apartment building in the capital city’s Taito ward for $33 million on behalf of the buyout giant’s Tokyo-listed REIT.
INVESTORS BOOST APAC LOGISTICS DEALS AMID E-COMMERCE BOOM
ESR, JLL, BW AND LOGOS SEE LOGISTICS PIVOT TO DEVELOPING MARKETS: MTD TV
More MTD TV Videos>>
PEOPLE IN THE NEWS
ASIA REAL ESTATE PEOPLE IN THE NEWS 2023-06-12
Kevin Neo Keppel
The future of a Singapore-listed infrastructure trust leads this week’s review of hirings and promotions from around the … Read More>>
CANADIAN PENSION MANAGER AIMCO SETS UP IN SINGAPORE WITH HIRE OF GIC EXEC
Kevin Bong AIMCo
Canadian pension fund manager Alberta Investment Management Corp (AIMCo) has hired former GIC veteran Kevin Bong to … Read More>>
EUROPEAN INVESTMENT GIANT ICG EXPANDS APAC TEAM WITH HIRE OF ARA VETERAN JAE CHOI
Jae Choi joins ICG from ESR
Just one year after setting up operation in Asia Pacific, London-based fund manager ICG is adding to its senior … Read More>>
ㅡㅡㅡ
Hines.
Investment Management
Real Estate Services
Hines Makes First Investment in Japan's Multifamily Sector
Acquisition of 11 Sites in Tokyo, Nagoya and Fukuoka Under New Cavana Brand Highlight Hines’s Commitment to the Sector and Market
DECEMBER 7, 2022
(TOKYO) – Hines, the global real estate investment, development and property manager, today announced that Hines Asia Property Partners (“HAPP” or the “Fund”), the firm’s flagship commingled Asia Pacific core plus fund, has acquired 11 multifamily properties in Japan. Totaling over 14,000 square meters and more than 400 units in Tokyo, Nagoya and Fukuoka, the first multi-family investment for HAPP in Asia Pacific marks the beginning of a series of acquisitions by the Fund to amass a portfolio of rental multi-family assets in Japan.
“We have seen an increased demand for multifamily properties in Asia Pacific, so we have identified strategic opportunities like these to deliver high quality products to the rental market,” said Chiang Ling Ng, chief investment officer, Asia at Hines. “These acquisitions in Japan should help increase Hines’ growing portfolio in the region, while also expanding our investors’ exposure to the vibrant and increasingly popular multifamily sector across Asia Pacific.”
The acquisitions are the start of HAPP’s living aggregation strategy for Japan, which is targeting to scale up to USD 1 billion of asset value in three to five years. Targeting urban dwellers in major Japanese cities, the properties will be managed under the firm’s new Cavana brand. The projects intend to focus on sustainability initiatives with plans to implement tenant engagement schemes to encourage them to conserve water, recycle materials, and reduce their carbon footprint.
“The timing is excellent for investing in the Japan multifamily market as it is the only country in Asia Pacific with a substantial and established ‘for rent’ residential property sector, which is also attractive due to its stable yield and wide availability of investable assets,” said Jon Tanaka, senior managing director, Japan at Hines. “By sourcing off market and being highly selective, we have been able to secure properties which we anticipate will outperform the market and produce positive income returns for the firm.”
Marketing Communication
About Hines
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 28 countries. We manage a $92.3B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 634 properties totaling 225 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2022.
'■외국계 한국부동산투자 > Hines' 카테고리의 다른 글
| Formerly Hines Global REIT, Inc. HGR (0) | 2023.07.03 |
|---|---|
| ESR KS REIT, HINES, JLL AND IGIS CONFIDENT IN FACE OF KOREA SHED TSUNAMI: (0) | 2023.06.18 |
| MUBADALA HOOKS UP WITH MANULIFE, PROPRIUM ON $600M JAPAN MULTI-FAMILY JV (0) | 2023.06.18 |
| 하인즈, 부산시.‘세가사미’ 부지에 1.3조원투자, 74층 규모의 글로벌 퀀텀 콤플렉스,다목적시설 개발 발표“국내 최초 양자 컴퓨팅 R&D 허브될 것” (0) | 2023.03.16 |
| 은성산업·은성건설, 시흥에 다음달 복합업무단지 '시흥 씨앤펄 웰플렉스' 선봬 (0) | 2023.03.14 |