This acquisition adds to our growing portfolio of properties in Japan while concurrently providing asset-specific diversification. Demographic and lifestyle shifts, such as inward city migration and increasingly smaller household sizes, will continue to support demand for multi-family residential apartments within close proximity and accessibility to key transport nodes, with these assets particularly appealing to middle-market tenants seeking a more urban lifestyle.
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Tokyo & Osaka, Japan
Japan residential portfolio
The Asia Pacific properties are owned by Asia Pacific Cities Fund (APCF), in which Nuveen Global Cities REIT (REIT) has made $50 million in commitments as of 30 June 2022, the entire commitment has been invested. APCF has $1.2 billion in gross asset value as of 30 June 2022 excluding purchases post quarter end. The REIT does not charge investors for management of this commitment. Investors indirectly pay the underlying management fee of APCF, on the amount of their commitment to the fund, which is lower than the REIT’s management fee. The REIT will not have direct control over APCF and therefore a part of the REIT’s performance will be affected by decisions made by APCF.
These properties represent select holdings at the time of publication and are not meant to represent the entire portfolio. The opinions expressed are reflective of the manager's views at the time of acquisition.