M&G Real Estate: Further Into Japan

Chiang Ling Ng, CEO and CIO of M&G Real Estate Asia

Chiang Ling Ng, CEO and CIO of M&G Real Estate Asia

The real estate fund management arm of M&G Investments has completed two transactions in Japan including the acquisition of a retail asset in Fukuoka and a mixed portfolio of residential assets.

The whole package is worth a combined $123.6 million, according to a press release sent on Tuesday. The acquisitions were made on behalf of M&G Real Estate’s core Asia property strategy.

«With a healthy capital queue we are well positioned to pursue property investments across the region to further improve our risk adjusted returns and sustain the outperformance of our portfolio,» Chiang Ling Ng (pictured above), Chief Executive and Chief Investment Officer of M&G Real Estate Asia, said.

Different Assets Across Japan

The retail asset in Fukuoka is a fully leased two-year-old recreation complex comprising of a convenience store, fitness centres and restaurants. Located next to the Nakasu Kawabata station and within 10 minute walk from Tenjin station, the area attracts a vibrant nightlife and entertainment street appeal, enjoying high footfall from both office workers and shoppers. Properties in the area generally command higher rental rates and stronger demand than traditional office buildings.

The residential portfolio, which comprises 490 individual homes in ten different assets across Chiba, Tokyo and Osaka, all enjoy prime residential appeal. The Chiba assets have affordable rents and easy and safe commutes for workers.

Easy Accessibility

The Tokyo asset boasts a central location in the heart of city; and the Osaka properties, located in the upscale residential area of Hokusetsu, attract young affluent professionals looking for easy accessibility to the city via Shinkansen, Japan’s high-speed bullet train.

«Japan is a key market for us and the low interest rate environment also continues to support investor demand for property in developed Asia Pacific markets,» Chiang Ling Ng added.

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