Frankfurt
CBRE Global Investors and Universal-Investment Acquire a Logistics Facility in Japan on behalf of Bayerische Versorgungskammer
05 Mar 2020
CBRE Global Investors and German fund service company Universal-Investment have acquired a brand new, fully leased logistics property in the vicinity of Kobe in Japan, on behalf of Bayerische Versorgungskammer (BVK), one of Germany’s largest institutional investors.
Completed in September 2019, the 42,000-square-meter prime asset is strategically located north of Kobe along the Chugoku Express Highway and was designed with grade-A logistics specifications. The quality of the investment is crystalized by a 10-year fixed-term lease with a well-established logistics company. Revenues are further supplemented by a state-of-the-art solar panel farm that is guaranteed by a 20-year sales agreement with the regional utility company.
“This asset will enhance the diversity of the client’s portfolio and reinforce income resilience against possible market corrections, backed by the increasing demand for the modern logistics facilities in this market,” said Tetsuya Fujita, Managing Director and Head of Japan, CBRE Global Investors.
The Japanese logistics market continues to face a scarcity of modern facilities, and the team believes that existing property performance will be buoyed by growing demand, while the property’s efficient design and convenient location should attract demand from prospective tenants who provide services and products to the greater Kobe and Osaka areas.
“The acquisition fits our portfolio strategy to increase the allocation to logistics and continue regional diversification,” added Jean-Antoine Robert, Portfolio Manager for CBRE Global Investors. “Japan offers attractive opportunities for European investors relative to other developed markets, driven in part by evolving local standards and user expectations that channel demand towards quality commercial and residential space.”
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $112.9 billion in assets under management* as of December 31, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors' presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.
About Bayerische Versorgungskammer
Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.3 million insured persons in total, with contributions of € 4.8 billion and € 3.4 billion pension payments annually. It currently has € 77 billion assets under management and 1,315 employees.
www.versorgungskammer.de
About Universal-Investment
With fund assets of around EUR 510 billion under administration, thereof EUR 391 billion in own vehicles and around EUR 119 billion in, inter alia, insourcing, well over 1,400 mutual and special investment mandates and a workforce of around 750, Universal-Investment is the largest independent investment company in the German-speaking region. With the acquisition of UI labs in January 2019, the industry-leading IT data specialist now completes the Group’s service portfolio by adding front office and data solutions. The investment company is the central platform for independent asset management and unifies the investment know-how of portfolio managers, private banks, asset managers and investment boutiques. Founded in 1968, the Universal-Investment Group is headquartered in Frankfurt/Main and has subsidiaries, branches and holdings in Luxembourg, Poland and Austria. It is one of the pioneers of the investment industry and has meanwhile become the market leader in the areas of master-KVG and private label funds. According to the 2019 PwC ManCo Survey, Universal-Investment is the largest AIFM ManCo in Luxembourg; among the Third-Party-ManCos, Universal-Investment also ranks in first place (as of January 30, 2020). More information available at: www.universal-investment.com
Completed in September 2019, the 42,000-square-meter prime asset is strategically located north of Kobe along the Chugoku Express Highway and was designed with grade-A logistics specifications. The quality of the investment is crystalized by a 10-year fixed-term lease with a well-established logistics company. Revenues are further supplemented by a state-of-the-art solar panel farm that is guaranteed by a 20-year sales agreement with the regional utility company.
“This asset will enhance the diversity of the client’s portfolio and reinforce income resilience against possible market corrections, backed by the increasing demand for the modern logistics facilities in this market,” said Tetsuya Fujita, Managing Director and Head of Japan, CBRE Global Investors.
The Japanese logistics market continues to face a scarcity of modern facilities, and the team believes that existing property performance will be buoyed by growing demand, while the property’s efficient design and convenient location should attract demand from prospective tenants who provide services and products to the greater Kobe and Osaka areas.
“The acquisition fits our portfolio strategy to increase the allocation to logistics and continue regional diversification,” added Jean-Antoine Robert, Portfolio Manager for CBRE Global Investors. “Japan offers attractive opportunities for European investors relative to other developed markets, driven in part by evolving local standards and user expectations that channel demand towards quality commercial and residential space.”
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $112.9 billion in assets under management* as of December 31, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors' presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.
About Bayerische Versorgungskammer
Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.3 million insured persons in total, with contributions of € 4.8 billion and € 3.4 billion pension payments annually. It currently has € 77 billion assets under management and 1,315 employees.
www.versorgungskammer.de
About Universal-Investment
With fund assets of around EUR 510 billion under administration, thereof EUR 391 billion in own vehicles and around EUR 119 billion in, inter alia, insourcing, well over 1,400 mutual and special investment mandates and a workforce of around 750, Universal-Investment is the largest independent investment company in the German-speaking region. With the acquisition of UI labs in January 2019, the industry-leading IT data specialist now completes the Group’s service portfolio by adding front office and data solutions. The investment company is the central platform for independent asset management and unifies the investment know-how of portfolio managers, private banks, asset managers and investment boutiques. Founded in 1968, the Universal-Investment Group is headquartered in Frankfurt/Main and has subsidiaries, branches and holdings in Luxembourg, Poland and Austria. It is one of the pioneers of the investment industry and has meanwhile become the market leader in the areas of master-KVG and private label funds. According to the 2019 PwC ManCo Survey, Universal-Investment is the largest AIFM ManCo in Luxembourg; among the Third-Party-ManCos, Universal-Investment also ranks in first place (as of January 30, 2020). More information available at: www.universal-investment.com