Sumitomo Mitsui Trust Bank forms real estate investment JV with Aberdeen Standard

Sumitomo Mitsui Trust Bank. Photo: Suikotei/Wikimedia Commons.

Japan-based Sumitomo Mitsui Trust Bank (SuMi TRUST) has forged a joint venture with global asset manager Aberdeen Standard Investments (ASI) to invest in residential real estate assets in Japan and in other mature markets across the Asia-Pacific, according to a media release.

The joint venture aims to deliver a compelling Asia Pacific real estate strategy for investors.

The two firms, through the JV, will target investments in residential assets such as multi-family, senior housing, student housing and corporate housing in mature markets in the Asia Pacific region, mainly in Japan.

The JV will be co-invested and co-managed by ASI and SuMi Trust’s subsidiary Sumitomo Mitsui Trust Real Estate Investment Management (SuMi TREIM).

The JV seeks to combine SuMi TRUST’s robust brokerage network and access to domestic deal opportunities and  ASI’s global distribution platform and Asia Pacific real estate fund management and investment expertise.

Trend Towards Urbanization

The continued trend towards urbanization in Japan, mainly in the largest cities like Tokyo and Osaka, provides the structural underpinning to the joint venture’s strategy, the media statement said.

The strategy will be backed by the significant gaps of rental and yield between those new and older buildings. Furthermore, similar trends in other largest cities in Asia Pacific will support the JV’s residential real estate investments beyond Japan.

Adopting a value-added investment strategy, the two firms aim to enhance capital and income through acquiring newly constructed properties on a forward commitment basis, as well as older residential properties which are potentially renovated, repositioned or converted.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.