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Allianz to acquire a EUR1.1bn portfolio of core multi-family residential assets in Japan

Allianz Real Estate, acting on behalf of several Allianz companies, has signed a sale and purchase agreement to acquire a portfolio of multi-family residential assets in Japan from Blackstone managed funds.

The transaction is expected to complete in Q4 2019.
 
The portfolio comprises 82 assets – 4,600 units offering 160,000 sq m net rentable area. A total of 78 out of the 82 assets are located in Japan’s four major cities: Tokyo, Osaka, Nagoya and Fukuoka. The portfolio is stabilised with a current occupancy of 97 per cent and a well-diversified tenant base. All assets are on a freehold basis. This acquisition is in line with Allianz’s strategy of acquiring core income producing assets for long-term hold.

Source: propertyfundsworld.com on 4 October 2019 (https://www.propertyfundsworld.com/2019/10/04/279263/allianz-acquire-eur11bn-portfolio-core-multi-family-residential-assets-japan)