SINGAPORE (EDGEPROP) - Singapore-based private equity firm, Q Investment Partners (QIP), has closed its first fund in the Japan multifamily housing sector, with fully deployed commitments of US$50 million ($67 million). This fund was a joint venture with Alyssa Partners, a leading investment manager focused on Japanese markets.

The fund was closed following the acquisition of its fourth and final asset in the portfolio. The newly acquired property is a 42-unit apartment block in Kiba, Tokyo. “We are delighted to announce the full deployment of the fund and the acquisition of our fourth asset in Tokyo. QIP’s MFH fund is a vehicle that has successfully provided access to the residential market in Japan,” says QIP CEO Peter Young.

He adds that the investment firm plans to extend its commitment to the Japanese market and will create a local team there to facilitate the execution of its strategy of a second fund at the end of this year.

QIP’s focus in Japan has focused on Osaka, Nagoya, and Tokyo. Its portfolio in the country includes the 89-unit Luxe Shin Osaka, the 62-unit Porta Nigra Osu, and the 56-unit Porta Nigra Chikusa. The portfolio has also maintained an average occupancy of 95%.

“Key macro- and microeconomic factors mean that the Japanese residential living sector, particularly the multi-family asset class, continues to be favoured by institutional capital,” says Young. He adds that QIP remains committed to the Japanese market and is looking toward a second Japan-focused fund later this year.