Canadian investment firm Brookfield Asset Management Ltd. is expanding its presence in the Japanese real estate market with two major acquisitions totaling $1.6 billion. The deals include a stake in Gajoen, a landmark Tokyo hotel complex, and a large plot of land near Nagoya for logistics development.
Brookfield Asset Management Ltd. announced plans to increase its real estate investments in Japan following two major acquisitions worth a combined $1.6 billion at the end of 2024. The Canadian investment firm acquired a stake in Gajoen , a mixed-use complex in Tokyo owned by China Investment Corp. and LaSalle Investment Management. It also purchased 1 million square feet of land near Nagoya , Japan 's manufacturing hub, for a large warehouse development.
These investments reflect a growing trend of foreign investors entering the Japanese real estate market, fueled by factors such as the weak yen, favorable financing conditions, and a resurgence of inflation and tourism. Andrew Burych, managing partner and head of East Asia real estate for Brookfield, stated that the firm anticipates more significant investments in Japan in 2025, potentially exceeding the $1.6 billion invested in 2024. Brookfield's focus in Japan will be on logistics, mixed-use complexes, and hospitality assets. The firm is currently evaluating potential transactions ranging from $50 million to $1 billion. Burych also highlighted opportunities to invest in public Japanese real estate investment trusts trading below their net asset value and private REITs with shareholder liquidity needs. Data from Jones Lang LaSalle Inc. indicates a 40% surge in Japanese real estate investment in the first nine months of 2024 compared to the previous year, reaching an estimated ¥5 trillion ($32 billion) for the year. This trend is projected to continue in 2025 with increased activity from both domestic and international investors. The Gajoen acquisition was made on Brookfield's balance sheet, while the Nagoya land purchase is being handled through the firm's global opportunistic strategy. Brookfield aims to renovate public spaces within Gajoen, including the hotel and offices, while retaining its role as asset manager. The firm declined to disclose its ownership stake in the property, which features a luxury hotel with banquet halls and restaurants, alongside two office towers. Amazon Japan is the primary tenant in the office buildings. Brookfield plans to invest approximately $300 million in developing a 2.4 million square-foot warehouse on the Nagoya land
Brookfield Asset Management Real Estate Investment Japan Gajoen Nagoya Logistics Foreign Investment Japanese Real Estate Market
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