PRIVATE equity real estate advisor MGPA has closed the MGPA Asien Spezialfonds fund with further commitments of €50 million from a German insurance company.
MGPA Asien Spezialfonds is a yield focused core-plus product regulated by the German Investment Act and targets the Asia Pacific real estate markets, with an investment focus on established markets such as Japan, Australia, Hong Kong, Singapore and Malaysia.
This brings the total commitments to €135 million since the fund was launched in September 2011, after completing its first close in September 2012 with commitments of €85 million from three institutional investors.
The target equity capital of MGPA Asien Spezialfonds is €500 million.
In March, MGPA acquired South Shin Otsuka Building in Otsuka and Shinjuku TX Building in Shinjuku, Tokyo. These acquisitions follow the purchase of the Optima Centre in Perth, which was the first deal made by the fund.
“The most interesting markets at present for creating low risk real estate returns are in Japan, Australia and Hong Kong, driven by macroeconomic and real estate market dynamics. As always, the keys to success will be large, experienced teams on the ground and expert local knowledge,” MGPA CEO John Saunders said.
Property Review
