Blackstone has joined forces with independent asset manager Alyssa Partners to acquire assets in four Japanese cities while Morgan Stanley Real Estate Investing has acquired a portfolio of four logistics assets in cities surrounding Shanghai from Singapore-based SC Capital Partners.
Blackstone acquires assets in Japan for $157m
PE firm Blackstone has joined forces with independent asset manager Alyssa Partners to acquire a portfolio of 19 multifamily assets in Japan at a transaction value of $157 million, per a report by Mingtiandi.
The assets include 1,075 apartment units spanning a gross area of 32,600 square metres across four key cities of Tokyo, Osaka, Nagoya and Fukuoka.
Funds managed by Blackstone hold a majority equity stake in the partnership, which bought the portfolio from a major Japanese developer, according to the portal.
Blackstone, which manages over $640 billion of assets, started investing in APAC in 2006 and has since deployed $14 billion. Its investments in this region have returned $10 billion, generating a strong double-digit net IRR.
In February, alternative asset manager Blackstone closed its second Asia-focused private equity fund at $11 billion. The development, first reported by Bloomberg, was confirmed by a Blackstone spokesperson to DealStreetAsia.
The fund secured capital commitments worth $6.4 billion from its limited partners and will receive an additional $4.6 billion from Blackstone’s global funds.
Founded in 2012, Alyssa Partners is an Asia-based independent and privately owned real estate investment firm that is driven by integrity, building partnerships and commitment to deliver attractive risk-adjusted returns.
MSREI snags four logistics assets in China
Morgan Stanley Real Estate Investing (MSREI), a real estate investment arm of Morgan Stanley, has acquired a portfolio of four logistics assets in cities surrounding Shanghai from Singapore-based SC Capital Partners for an undisclosed sum, per a report by Mingtiandi.
The assets comprise 210,000 square metres (226,042 square feet) combined logistics space in the Yangtze River Delta cities of Nantong, Taicang, Suzhou and Jiaxing from SC Capital’s opportunistic fund Real Estate Capital Asia Partners V (RECAP V).
They are positioned to be regional distribution centres because of their access to major transport networks across the region and their proximity to the Shanghai metropolitan area.
Morgan Stanley is a full-service securities firm engaged in a wide range of financial services, including, for example, securities trading and brokerage activities, investment banking, research and analysis, financing and financial advisory services.
MSREI is one of the most active property investors in the world since three decades. With 17 offices throughout the US, Europe and Asia, regional teams of dedicated real estate professionals combine a unique global perspective with local presence and significant transaction execution expertise.
SC Capital Partners has recently announced that it secured nearly $1 billion in commitments for a new fund that targets hard-hit Japanese hotels and other hospitality-related investments across Japan.