Qatar Investment Authority (QIA) has acquired 32 residential properties in Japan through Hong Kong-based Gaw Capital Partners for an undisclosed amount.
IPE Real Assets understands that Gaw Capital acquired part of the portfolio (12 assets) through one of its Gateway real estate funds earlier. However, the entire portfolio as well as 20 additional buildings are now acquired under a separate account, ultimately held by QIA.
Christina Gaw, managing director and global head of capital markets at Gaw Capital Partners, said her firm and QIA expect more acquisitions of quality residential assets in Japan’s major cities.
“We look forward to exploring further opportunities in various real estate sectors and generating favorable returns for this partnership,” Gaw said.
Isabella Lo, Managing Director and Head of Japan at Gaw Capital Partners, said: “These high quality residential assets will provide stable and defensive cash flow to our investors.”
The bulk of the 68,432 m² seed portfolio is located in Tokyo, with the remaining assets located in Osaka, Kyoto, Yokohama and Sapporo.
Gaw Capital entered the Japanese market in 2014 with its first investment in Hyatt Regency Osaka and successfully exited what was the second largest hotel deal in Osaka in 2016, selling it for US$153 million (143 million euros). He paid US$30 million for the property.
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