Dubai, UAE — Abu Dhabi’s state investor Mubadala Investment Company, Proprium Capital Partners, Manulife Investment Management and Samurai Capital today announced the formation of a joint venture to invest in Japanese multifamily property.
The joint venture, which has an initial target portfolio of up to JPY 80 billion (approximately $600 million), will focus on acquiring and managing high-quality, stabilized rental properties in Tokyo and Osaka.
The joint venture will also target sustainability initiatives, such as reducing the carbon footprint of its properties, Mubadala said in a statement.
Thomas Wong, Partner of Proprium Capital Partners, said, “We believe that these properties will outperform the market and generate positive returns for our investors. Through the collaboration between Proprium and our co-investors, we look forward to scaling up in the Japan multifamily sector.”
Matthias Neuling, Head of Asia & DACH Real Estate for Mubadala, said, “Japan’s multi-family property sector has proven to be resilient and stable, offering attractive risk-adjusted returns with significant future growth potential. Japan is a key strategic market for Mubadala, and we look forward to working with our partners to create long-term value and deliver sustainable high-quality living spaces for communities across the country.”
The joint venture is expected to close in the coming months, the statement said.