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.


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