The portfolio of properties contains 82 assets, roughly 4,600 residential units containing 1.7 million sq feet of net rentable area. All of the resources are on a freehold basis, and 78 can be found at the four big cities of Tokyo, Osaka, Nagoya, and Fukuoka. The portfolio includes a current occupancy rate of 97% and appreciates a well-diversified tenant foundation.
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The purchase is based on Allianz’s approach to obtaining center income-producing assets to endure for the long run, also is a”purposeful vulnerability” in to Japan’s multi-family residential industry, states Rushabh Desai, Asia Pacific CEO of Allianz Real Estate.
This really is a sought after asset category offering among the greatest stabilized yield spreads on the planet. Japan is the world’s third biggest multi-family housing market with powerful urbanization trends combined with restricted internet supply at the four big cities,” he states.
The trade is anticipated to be finished by the end of the year.