Hines expands its Singapore portfolio with five apartment complexes

Hines, a worldwide leader in real estate investment, development, and management, said in a news statement on May 3 that it has purchased five new apartment complexes in Japan. The assets encompass a total of 100,107 square feet across 290 units in Tokyo and Kyoto.

Hines Asia Property Partners (HAPP), the competitor of Normanton Park and Normanton Park Showflat company’s flagship commingled Asia Pacific core-plus fund, completed the purchase, increasing its portfolio of multi-family rental assets to 16 properties. After purchasing 11 multi-family properties in Japan last year, this is HAPP’s second investment in multi-family assets in the Asia Pacific region. approximately 400 apartments, totaling approximately 150,694 square feet, were spread throughout Tokyo, Nagoya, and Fukuoka in the 11 properties.

According to Chiang Ling Ng, Hines’ chief investment officer for Asia, the multi-family rental industry in Japan is a stable, non-discretionary sector in the Asia area. With favorable leveraged rates and the potential for inflation protection, “these new acquisitions should continue to add to our growing footprint in the region, allowing us to deliver a high-quality portfolio to our investors.”

The most recent purchases are a part of HAPP’s ongoing “living aggregation strategy” in Japan. In three to five years, HAPP hopes to increase the value of its assets by US$1 billion ($1.33 billion). Cavana, the company’s brand for managing the buildings it has bought, is aimed towards the metropolitan populations of Japan’s main cities. Cavana wants to establish tenant involvement projects to promote water conservation, recycling, and reduced carbon footprints as part of its commitment to sustainability.

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