M&G Real Estate Asia purchases a $267 million interest in a Tokyo logistics complex

M&G Real Estate Asia is part of M&G’s private asset as well as alternatives, is now the majority shareholder of ESR Ichikawa Distribution Centre, an logistics facility located situated in Tokyo, Japan. In a press announcement, M&G announced that through its M&G Asia core property strategy it made an investment of 267 million ($353 million) acquisition that has increased their stake at the distribution center to 25% to 58.3%% up to 58.3%.

Marina View Residences condo price is expected to house 905 private residential units, at least 548,959 sq ft and 540 hotel units in 279,861 sq ft.

The asset is a 4-storey facility that is located within Ichikawa City in the Greater Tokyo Bay Area. It is rented to tenants that is 201,111 square metres (2.16 million square feet) that is completely lease-out. The facility is accredited with it’s CASBEE S rating, the highest rating in the Comprehensive Assessment System for Built Environment Efficiency (CASBEE) green building certification program , which is in use in Japan.

“Acquiring the majority stake for an attractive rate of return on investment is a significant milestone in the history of M&G as we redouble our efforts on our belief and dedication to Japan’s logistics sector which we believe will play an important role in Japan’s economy, because demand for premium assets continues to be strong,” comments Richard van den Berg who is the M&G’s fund manager for its Asia primary property.