Hong Kong-based real estate private equity firm Gaw Capital Partners has acquired a residential portfolio in Japan on behalf of Qatar Investment Authority (QIA).
Gaw Capital Partners’ separately managed account ultimately held by QIA purchased Japanese residential assets in Tokyo and other major cities for an undisclosed amount.
The seed portfolio consists of a total of 32 assets, including 21 assets in Tokyo, three assets in Nagoya, five assets in Osaka, one asset in Kyoto, one asset in Yokohama and one asset in Sapporo.
The total GFA of this residential portfolio is 68,432 sqm (20,701 tsb). All assets enjoy convenient train and metro access and average walking distance from the nearest stations is approximately six minutes.
According to Gaw Capital Partners, Japan’s residential rents have historically displayed stronger resilience in an unfavorable market environment compared to other asset classes and the occupancy rates have remained resilient during the pandemic.
”Despite the stagnant population growth nationwide, the population in central areas of major cities continues to grow with residential rents in all major cities enjoying healthy growth since 2012 due to increasing demand. Furthermore, the liquidity for Japanese real estate has remained robust throughout the pandemic and residential assets are highly sought after by both domestic and international investors,” the company said.
Christina Gaw, Managing Principal and Global Head of Capital Markets, C0-Chair of Alternative Investments at Gaw Capital Partners, said, “We are delighted to have the opportunity to partner with QIA to create this multi-family portfolio, and will further acquire high-quality residential assets across major cities in Japan. We look forward to exploring further opportunities across various property sectors and generate favorable returns for this partnership.”
Isabella Lo, Managing Director and Head of Japan at Gaw Capital Partners, said, “We are pleased to have completed this deal in acquiring a large portfolio of residential assets across major cities in Japan. These high-quality residential assets will provide stable and defensive cash flows for our investors.”