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Sumitomo Mitsui, Aberdeen Standard to jointly invest in real estate

By Bong Xin Ying

/ EdgeProp Singapore |

June 4, 2019 3:46 PM SGT

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Sumitomo Mitsui Trust Bank (SuMi Trust), a leading trust bank in Japan, and Aberdeen Standard Investments (ASI), a global asset manager, will establish a joint venture to invest in residential real estate in Japan and other mature markets across the Asia-Pacific.

With a primary focus on Japan, the joint venture will also target investments in residential assets such as multi-family, senior housing, student housing, and corporate housing in mature markets in the Asia-Pacific region. This will be done through co-investment and co-management by ASI and SuMi Trust’s subsidiary, Sumitomo Mitsui Trust Real Estate Investment Management.

SuMi Trust has a strong presence, significant real estate investment capability, robust nationwide brokerage network and unique access to domestic deal opportunities in Japan. Together with ASI’s global distribution platform and extensive Asia-Pacific real estate fund management and investment expertise, the joint venture seeks to deliver a compelling Asia-Pacific real estate strategy for investors.

The joint venture will adopt a value-added investment strategy, which aims to enhance capital and income. This will be done through acquisition of newly constructed properties on a forward commitment basis, and older residential properties which have the potential to be renovated, repositioned or converted.

Environmental, social and governance (ESG) factors will be fully embedded into the investment process, to support sustainable social development through ESG-screened investments in Japan.

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