Samty Holdings has sold two investment pools of multifamily assets in Japan worth around JPY49bn (€284m) to an undisclosed Asian sovereign wealth fund.
Samty will continue to manage one portfolio, which holds eight buildings. It will jointly manage the second portfolio of 22 assets with Japanese real estate manager Alyssa Partners.
Around 70% of the newly built properties, developed by Samty, are located in Tokyo, Osaka and other major Japanese cities.
The transaction is the first major deal for Samty which was privatised this year by a consortium, led by Hillhouse Investment’s real estate arm Rava Partners, alongside Daiwa Securities which has remained a shareholder of the firm.
Joe Gagnon, co-head of Rava Partners, partner at Hillhouse, said following the recently close of their hotel-specific fund, “this latest transaction means that we have cumulatively raised more than JPY100bn in a short time span. This achievement showcases the robust demand and trust from our valued limited partners”.
Yasuhiro Ogawa, president and CEO of Samty Holdings, said this transaction reflected the new opportunities that could arise from the firm’s transformation into an investment platform.
Akihiko Ogino, president and CEO of Daiwa Securities, said: “As the multifamily sector continues to grow in Japan, we anticipate more demand for the kind of high-quality assets being developed and managed by Samty.”
Chedli Boujellabia, managing partner, CEO & co-CIO of Alyssa Partners, said: “This latest mandate with one of the largest sovereign wealth funds in the region represents an encouraging vote of confidence reinforcing Alyssa Partners’ position as one of the most trusted independent investment managers in the living sector in Japan.”
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AloJapan.com