Mubadala forms $600 mln Japanese residential property venture (updated)
14/06/2023 10:34
(Adds detail)
DUBAI, June 14 (Reuters) - Abu Dhabi state investor
Mubadala has formed a joint venture with Proprium Capital
Partners and Manulife Investment Management to build an up to 80
billion yen ($572 million) property portfolio, Mubadala and
Proprium said on Wednesday
Samurai Capital, a leading asset manager with significant
experience in managing property assets, will partner the
venture.
"The joint venture was seeded with existing rental
multi-family properties in Japan and will seek to acquire
additional assets," Proprium Capital said in its statement.
Targeting urban dwellers in Tokyo and Osaka, the seed assets
are high-quality properties with convenient access to railway
stations and nearby neighborhood amenities, Proprium added.
($1 = 139.8900 yen)
(Reporting by Nayera Abdallah
Writing by Jana Choukeir
Editing by David Goodman)
((Jana.Choukeir@thomsonreuters.com;))