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Gaw Capital completes US$540 mil acquisition of logistics assets in Tokyo

By Atiqah Mokhtar

/ EdgeProp Singapore |

December 2, 2022 2:01 PM SGT

The portfolio comprises seven assets with a total net rentable area of around 253,200 sq m (Picture: Gaw Capital Partners)

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SINGAPORE (EDGEPROP) - Real estate private equity firm Gaw Capital Partners has completed the acquisition of a portfolio of logistics assets in Greater Tokyo, Japan. The portfolio, purchased through a fund under its management, comprises seven assets with a total net rentable area of around 253,200 sq m that is fully leased out. The portfolio was reportedly acquired for US$540 million ($732 million) from US investment firm Blackstone.

Read also: Keppel REIT enters into the Tokyo office market with acquisition of Ginza office building

The assets are located in Chiba, Joso, Hasuda, Hashimoto, Atsugi and Ashikaga, with most of the assets within a one-hour drive of central Tokyo. In a Dec 1 press release, the firm plans to “unlock the hidden value of the portfolio” by leveraging strategies including cold storage conversion, proactive asset management, and environmental, social and governance (ESG) initiatives.

Isabella Lo, managing director and head of Japan at Gaw Capital, says the firm is “delighted” to have completed its first logistics portfolio in Japan. She adds: “With rising demand driven by continued urbanisation and e-commerce, logistics assets in Japan continue to mature as an institutional asset class, increasingly attracting capital from domestic and international investors.”

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