Hong Kong-based real estate fund manager SilkRoad Property Partners has shelled out JPY19.5 billion (US$150 million) to acquire a Japanese property portfolio.
The assets include an office building and five residential properties in Greater Tokyo.
They will be used for SilkRoad’s Asia Value Partners II, the firm’s third ‘value-add’ property fund.
“As a company, it has long been our aspiration to have an active presence in the second largest real estate market in the world,” said SilkRoad CEO Peter Wittendorp.
“These acquisitions are just a first, promising step. We are looking to do a lot more in Japan,” added Wittendorp.
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