trending Market Intelligence /marketintelligence/en/news-insights/trending/f_of83wdlsrkfroh5r2zwa2 content esgSubNav
In This List

TH Real Estate sets up venture to invest up to US$1B in Tokyo multifamily

Blog

Using ESG Analysis to Support a Sustainable Future

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook


TH Real Estate sets up venture to invest up to US$1B in Tokyo multifamily

TH Real Estate established an investment fund targeting multifamily assets in Tokyo with Dutch real estate investor Bouwinvest as cornerstone investor.

The venture is expected to invest as much as US$1 billion in the Tokyo multifamily market, with plans to secure additional capital, according to a release.

The ERES APAC III – Tokyo Multifamily vehicle, which is the third in TH Real Estate's enhanced investment fund series, raised US$200 million at first closing, and a second close for an additional capital target of US$275 million is scheduled later in 2018. The fund is backed by TH Real Estate's parent, TIAA, Bouwinvest and one other undisclosed institutional investor.

Bouwinvest contributed US$90 million to the fund, which acquired a seed portfolio of six assets in Central Tokyo for US$180 million. The portfolio comprises 516 multifamily units and will be jointly managed by Kenedix Inc., which is said to be the largest listed real estate asset management company in Japan.