A joint venture partnership formed between PGIM Real Estate and Alyssa Partners has entered into sale and purchase agreements with two unrelated counterparts to acquire four newly built multifamily assets located in Tokyo.
Two of the assets, located in Shinjuku-ku and Taito-ku, were acquired on December 9, 2020, with the remaining two to be acquired in the first half of 2021. PGIM Real Estate will act as the asset manager. The assets within the portfolio have an average age of less than one year and comprise 282 apartment units. All properties are walking distance to subway and/or JR stations.
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