Frasers Property makes maiden Japan acquisition
Another foreign investor has entered the Japanese real estate market: Frasers Hospitality, a strategic business unit of Frasers Property from Singapore, has formed two joint ventures with established real estate players, Tishman Speyer and Alyssa Partners, in China and Japan, respectively. As part of these joint ventures, Frasers Hospitality has entered into two sale and purchase agreements to acquire its inaugural premium rental apartment assets in Shenzhen, China and Osaka, Japan with a combined asset value of approximately $170 million. The 124-unit premium rental apartment in Osaka, Japan, is situated in the major commercial district Namba, and is within walking distance of the nearest subway station (the picture shows Namba Station entrance). The property is currently operational and at close to full occupancy.
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