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The portfolio includes two resources at the Minato ward and also one at the Setagaya ward. Both are inside an eight-minute walk out of a railway station. Of those three buildings, two have been recently built and finished in mid-2020. The portfolio includes 95% occupancy.
That can be TE Capital Partners’ initial foray to the multi-family industry in Japan, that is the third biggest property asset category in Japan and has shown stability throughout the last ten years.
“This is a great chance for our investors to get exposure in an excellent multi-family residential portfolio at Tokyo, Japan, a desired asset class offering among the greatest stabilized yield spreads from the area,” says Emilia Teo, managing director at TE Capital Partners.
The investors of TE Japan Income Partners I include the household area of Teo Tong Lim, the managing director of Tong Eng Group along with other notable regional household offices.