Real estate investment manager LaSalle has acquired two high-rise residential assets in central Tokyo, Japan, including KW Residence Kojimachi and Premiere Ichibancho, for an undisclosed sum.
KW Residence, which was completed in 2005, is located near the Kojimachi Metro Station, while Premiere Ichibancho, completed in 2007, is two minutes’ walk from the Hanzomon Metro Station.
These are areas known as traditionally prime residential locations in Tokyo, where many state institutions and foreign embassies are located, according to the LaSalle announcement.
“Tokyo’s residential market is very diverse,” said Ryota Morioka, senior managing director of LaSalle Investment Management, adding that competition for core real estate in the city centre had intensified.
KW Residence Kojimachi and Premiere Ichibancho are in close vicinity to the Imperial Palace and Chidorigafuchi, as well as the Tokyo CBD area, Marunouchi and Otemachi.
“LaSalle considers newer residential buildings in major cities as an excellent investment opportunity available in Japan,” said Morioka.
On a global basis, LaSalle manages approximately $60.5 billion of private and public equity and private debt investments as on the third quarter of 2018.
A wholly-owned subsidiary of Jones Lang LaSalle Incorporated, LaSalle Investment Management sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. Its clients include public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe.