Frankfurt am Main / Amsterdam, March 5 2020
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 asset investment management firm with $106.2 billion in assets under management* as of September 30, 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 2018 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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 asset-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.