Allianz Real Estate acquires 12 assets on behalf of its new multi-family residential fund in Japan
Tokyo I Singapore | Munich I March 30, 2022
Allianz Immobilier, one of the largest real estate investment managers in the world, has entered into an agreement to acquire a portfolio of prime multi-family residential assets in Tokyo for approximately $90 million, on behalf of Allianz Real Estate Asia-Pacific Japan Multi-Family Fund I (“AREAP
The portfolio consists of 12 newly built assets with over 280 units in total, offering over 7,500 m² of net lettable area. All properties are conveniently located in Tokyo’s 23 wards and are an average of six minutes from the nearest station. Additionally, all assets will include key on-site amenities. The assets will be acquired upon completion and, in line with AREAP JMF I’s strategy, Allianz Real Estate intends to lease and stabilize the assets for long-term holding.
Established in December 2021, AREAP JMF I is a closed-end fund primarily focused on investing in newly completed residential assets in Japan’s four major cities of Tokyo, Osaka, Nagoya and Fukuoka.
The fund currently has a total equity commitment of $750 million, including $250 million each from Ivanhoe Cambridge and Allianz Group companies. Fully invested, the fund will have an investment capacity of approximately $2 billion in gross asset value.
Daisuke Noguchi, Japan Director, Allianz Real Estate Asia-Pacificnoted: “This wallet marks
The first acquisition of AREAP JMF I and affirms our conviction in the attractiveness of multi-the family residential sector, which continues to be supported by secular trends such as rapid urbanization. Going forward, we will continue to target quality assets in Japan’s four major cities. We will also prioritize the use of renewable energy, the establishment of green leases, green certifications and other related initiatives within the framework of our investors unwavering commitment to ESG.“
Laurent Fischler, Head of Investments, Asia-Pacific for Ivanhoé Cambridge , added: “We are delighted with this first acquisition of a portfolio that fully meets the Funds selection criteria and reinforces our ambitious diversification strategy in Japan and Asia-Pacific. In a market where rising housing prices have resulted in a lack of affordability and ownership of well-located assets, this project will provide a new solution, delivering urban regeneration benefits and occupant experience improvements.”
– To finish –
Allianz Immobilier Claire Fraser +44 20 32467082 [email protected]
Julie Benoit +33 7 86 89 34 23 [email protected]
About Allianz Real Estate and PIMCO
Allianz Real Estate is a PIMCO company, comprising Allianz Real Estate GmbH and Allianz Real Estate of America and their subsidiaries and affiliates. It is one of the largest real estate investments in the world managers, developing and executing bespoke global portfolio and investment strategies on behalf of a range of responsibility-focused global investors, creating long-term value for clients through direct and indirect investments and real estate financing. Operational management of investments and assets is carried out from 17 offices located in key gateway cities spread over 4 regions (Western Europe, Northern and Central Europe, United States and Asia-Pacific). For more information, please visit: www.allianz-realestate.com. PIMCO is one of world’s leading fixed income investment managers. With its launch in 1971 in Newport Beach,
California, PIMCO introduced investors to a total return approach to fixed income investing. In the nearly 50 years since, the company has continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. PIMCO has offices around the world and more than 3,000 professionals committed to providing superior investment returns, solutions and service to its customers. PIMCO is owned by Allianz SE, one of the world’s leading providers of diversified financial services.
Source: Allianz Real Estate, data as of 31st December 2021.
These reviews are, as always, subject to the disclaimer below.
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as changing general economic conditions, future market conditions, unusual catastrophic loss events, changes in capital markets and other circumstances may cause actual events or results to differ materially. of those anticipated by these statements. Allianz Real Estate makes no representations or warranties, express or implied, as to the accuracy, completeness or currency of these statements. Therefore, in no event will Allianz Real Estate be liable to anyone for any decision made or action taken in connection with the information and/or statements contained in this press release or for any damages relating thereto. All opinions expressed were retained at the time of preparation and are subject to change without notice. Although any forecast, projection or target, if any, is for guidance only and is not guaranteed. Allianz Real Estate declines all responsibility in the event of non-compliance with these forecasts, projections or objectives. This document is not intended for distribution or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy or subscribe for any investment. This document is not intended to constitute investment advice, nor an offer or solicitation to buy or sell a financial instrument, nor an offer or recommendation relating to Allianz Real Estate and/or its products. None of the information or analysis presented herein is intended to form the basis of an investment decision, and no specific recommendations are intended. PIMCO is a registered trademark of Allianz Asset Management of America LP in the United States and throughout the world. ©2022, PIMCO.
About Ivanhoe Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and businesses that shape the urban fabric of dynamic cities around the world. It does so responsibly, with a view to long-term performance. Ivanhoé Cambridge is committed to creating living spaces that promote the well-being of individuals and communities, while reducing its environmental footprint.
Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,200 properties, mainly in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$69 billion in real estate assets as of December 31, 2021 and is a real estate subsidiary of Caisse de dépôt et placement du Québec (cdpq.com), a global investment group. For more information:www.ivanhoecambridge.com