Proprium Capital, Manulife, and Mubadala Partner with Samurai Capital for Japanese Multifamily Exposure

Posted on 06/14/2023

Increasingly, Canadian and Middle Eastern sovereign wealth funds are seeking apartment investments in Japanese cities. Proprium Capital Partners entered into definitive agreements to establish a multi-family property investment venture with Proprium Capital Partners, Manulife Investment Management, and Mubadala Investment Company. The venture will partner with Samurai Capital Co., Ltd., an asset manager with experience in managing multi-family assets in Japan, and intends to assemble a portfolio worth up to JPY 80 billion (approximately US$ 600 million).

The joint venture was seeded with existing rental multi-family properties in Japan and will seek to acquire additional assets. Targeting urban dwellers in Tokyo and Osaka, the seed assets are high-quality stabilized properties with convenient access to railway stations and nearby neighborhood amenities. The establishment of the venture reflects the confidence of Proprium and its partners in the resilient nature and strong growth potential of Japan’s multi-family property sector.

Proprium Capital Partners is an employee-owned real estate fund manager spun out from Morgan Stanley in March 2013. Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation.

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