Patrizia Acquires Tokyo residential Portfolio for GIC-Backed Fund
TOKYO – Pan-European real estate investment manager Patrizia AG has expanded its Japanese portfolio wiht the acquisition of three residential buildings in Tokyo,purchased on behalf of its GIC Japan Fund. The transaction, completed this month, adds to the fund’s existing holdings and reflects continued investor confidence in the Tokyo residential market.
The newly acquired properties, located in the desirable Setagaya and Shibuya wards, comprise a total of 77 units and cater to a diverse range of tenants. This purchase follows Patrizia’s recent leadership changes in japan,with hiroki Takizawa assuming the role of sole head of Japan in June after the departure of former co-head Thomas Hirschvogel. The GIC Japan Fund, managed by Patrizia, focuses on core-plus and value-add opportunities in the Japanese real estate sector, aiming to deliver stable income and long-term capital appreciation for its investor, GIC, Singapore’s sovereign wealth fund.Patrizia’s expansion in japan comes as the country’s residential market demonstrates resilience despite global economic headwinds. Demand for high-quality rental housing in Tokyo remains strong, driven by population concentration and a growing workforce. The firm’s recent hires, including Jun Akase as a director in September 2023, signal a commitment to strengthening its local expertise and pursuing further investment opportunities.
The acquisition underscores Patrizia’s strategy of leveraging its global network and local knowledge to identify and execute compelling real estate investments for its clients. The company manages a substantial portfolio across Europe and Asia, with a growing focus on sustainable and future-proof assets.
