Qatar Investment Authority to increase its Japanese residential portfolio to $800 million | Alternatives

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Qatar Investment Authority has acquired 32 residential assets in Japan for an undisclosed amount through a portfolio managed by Hong Kong-based Gaw Capital Partners.

A spokesperson for Gaw Capital Partners declined to comment on the portfolio’s current value, but said it was aiming to grow the residential platform in Japan to $800 million.

The portfolio covers a gross floor area (GFA) of 68,432 square meters and comprises 32 assets, including 21 in Tokyo, and the remainder in Nagoya, Osaka, Kyoto, Yokohama and Sapporo.

“Japan’s residential rents have historically shown greater resilience in an unfavorable market environment compared to other asset classes and occupancy rates have remained resilient during the pandemic,” Gaw Capital Partners said in a statement.

“Despite stagnating population growth nationwide, the population of central areas of major cities continues to grow, with residential rents in all major cities enjoying healthy growth since 2012 due to increased ask,” he wrote.

Liquidity in Japanese real estate was also attractive, the company said, adding that domestic and international investors were looking for residential assets.

Japanese real estate investment volume for the first quarter of 2022 fell 37% year-on-year, but appetite remained strong, according to a CBRE report.

Institutional investors have been eyeing Japanese residences in recent months, with Allianz Real Estate announcing in December 2021 that it had committed $2 billion in gross asset value to build a portfolio of multi-family residential assets in Tokyo, Osaka, Nagoya and Fukuoka. .

Gaw Capital Partners will continue to seek residential real estate assets in Japan and will consider factors such as location, sale price, potential for growth or value addition, rental growth and currency, the carrier said. word.

QIA did not respond despite several attempts to contact them. The sovereign wealth fund hit $445 billion in assets under management (AUM) in February and has undisclosed allocations to credit, real estate, infrastructure, private equity, listed equities and other investments alternatives.

The sovereign wealth fund opened its office in New York in 2015 and an office in Singapore in 2021. In February, the fund committed $1.5 billion to Bodhi Tree, an investment firm founded by James Murdoch and Uday Shankar focused on the media and consumer technology sectors in the southeast. Asia and India.

¬ Haymarket Media Limited. All rights reserved.

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