Singapore
CBRE Global Investors Closes USD 265 Million Japan Logistics Co-Investment Vehicle
11 Mar 2021
Senior Director, Corporate Communications
Pam Barnett
Senior Director, Corporate Communications
CBRE Global Investors has successfully closed on a co-investment vehicle (the “Co-Investment”), which is part of the CBRE Asia Value Partners V fund (“AVP V” or the “Fund”) and targets logistics development projects in Japan.
As the Fund approaches full deployment, the Co-Investment will enable a select group of Limited Partners to capitalize on several compelling opportunities that have been sourced on an off-market basis. A total of USD 265 million in equity were raised.
To date four logistics development projects have been identified and approved for investment. The projects are located in popular logistics destinations within Greater Tokyo and Fukuoka, with sub-1% vacancy rates.
Commenting on the Co-Investment, Adrian Baker – President and CIO of Asia Pacific Direct Real Estate said, “The opportunity to co-invest alongside AVP V has been met with enthusiasm by Limited Partners. We believe the logistics sector in Asia Pacific has demonstrated resilience and added relevance amidst COVID-19. It is well poised to benefit from the weight of institutional capital that remains under allocated to logistics, particularly in this part of the world. We are very delighted to receive such strong and swift support from our investors. We now look forward to applying our platform’s skill sets in design, development management, leasing and asset management to execute successfully for both the Fund and the Co-Investment.”
AVP V held a final closing in February 2020 with total capital commitments of USD900 million. Most of the capital has since been committed to primarily logistics assets and development projects in Japan, China and South Korea. Including the Co-Investment, the Firm’s flagship Asia Pacific value add program will arrive at a USD 1.17 billion fund size for its fifth iteration.
– ENDS –
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $122.7 billion in assets under management* as of December 31, 2020. 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 2020 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees serving clients in more than 100 countries. 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 assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.
As the Fund approaches full deployment, the Co-Investment will enable a select group of Limited Partners to capitalize on several compelling opportunities that have been sourced on an off-market basis. A total of USD 265 million in equity were raised.
To date four logistics development projects have been identified and approved for investment. The projects are located in popular logistics destinations within Greater Tokyo and Fukuoka, with sub-1% vacancy rates.
Commenting on the Co-Investment, Adrian Baker – President and CIO of Asia Pacific Direct Real Estate said, “The opportunity to co-invest alongside AVP V has been met with enthusiasm by Limited Partners. We believe the logistics sector in Asia Pacific has demonstrated resilience and added relevance amidst COVID-19. It is well poised to benefit from the weight of institutional capital that remains under allocated to logistics, particularly in this part of the world. We are very delighted to receive such strong and swift support from our investors. We now look forward to applying our platform’s skill sets in design, development management, leasing and asset management to execute successfully for both the Fund and the Co-Investment.”
AVP V held a final closing in February 2020 with total capital commitments of USD900 million. Most of the capital has since been committed to primarily logistics assets and development projects in Japan, China and South Korea. Including the Co-Investment, the Firm’s flagship Asia Pacific value add program will arrive at a USD 1.17 billion fund size for its fifth iteration.
– ENDS –
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $122.7 billion in assets under management* as of December 31, 2020. 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 2020 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees serving clients in more than 100 countries. 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 assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.