Aberdeen Standard, Sumitomo Mitsui Trust Bank launch Asia-Pacific real estate venture

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Aberdeen Standard, Sumitomo Mitsui Trust Bank launch Asia-Pacific real estate venture – Pensions & Investments








































































<br /> <!-- Swiftype Variables --> <br /> Aberdeen Standard Investments and Sumitomo Mitsui Trust Bank have begun a joint venture to invest in Asia-Pacific residential housing.Douglas Appell<br /> <br /> Aberdeen Standard Investments and Sumitomo Mitsui Trust Bank set up a joint venture to invest in resident real estate in Japan and other “mature” markets across the Asia-Pacific region. </p> <p>An Aberdeen Standard news release Tuesday said the joint venture will “target investments in residential assets such as multifamily, senior housing, student housing and corporate housing,” primarily in Japan.</p> <p>A Hong Kong-based spokeswoman for Aberdeen Standard said in an email that the joint venture will look to invest in properties with a gross asset value of more than ¥100 billion ($930 million) and aims “to raise hundreds of millions of dollars from institutional investors globally.”</p> <p>For the Japanese market, Aberdeen Standard Investments will co-invest and co-manage investments with its Japanese partner’s affiliate, Sumitomo Mitsui Trust Real Estate Investment Management Co.</p> <p>Other markets targeted for investment include Australia, Korea, Hong Kong and Singapore.</p> <p>The news release said the joint venture will follow a “value-added investment strategy … acquiring newly constructed properties on a forward commitment basis, as well as older residential properties, which have the potential to be renovated, repositioned or converted.” </p> <p>






























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