Allianz: buys asset portfolio in Japan
(CercleFinance.com) - Allianz Real Estate has signed a sales contract with Blackstone Managed Funds for the acquisition of a portfolio of residential collective housing assets in Japan.
The transaction is expected to be closed in the fourth quarter of 2019.
The portfolio includes 82 assets - 4,600 units covering a total of 160,000 m2 of net leasable area. 78 of the 82 assets are located in Japan's four major cities: Tokyo, Osaka, Nagoya and Fukuoka.
At the end of June 2019, residential assets represented 9.8 billion euros out of Allianz Real Estate's overall portfolio of 67.1 billion euros.
A current occupancy rate of 97% and a diversified tenant base provide a certain level stability to the portfolio.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The transaction is expected to be closed in the fourth quarter of 2019.
The portfolio includes 82 assets - 4,600 units covering a total of 160,000 m2 of net leasable area. 78 of the 82 assets are located in Japan's four major cities: Tokyo, Osaka, Nagoya and Fukuoka.
At the end of June 2019, residential assets represented 9.8 billion euros out of Allianz Real Estate's overall portfolio of 67.1 billion euros.
A current occupancy rate of 97% and a diversified tenant base provide a certain level stability to the portfolio.
Copyright (c) 2019 CercleFinance.com. All rights reserved.