The multi-family residential sector in Japan continues to attract interest from large institutional investors. Allianz and Ivanhoe Cambridge have just announced a US$2bn closed-ended vehicle to focus on the sector.
Fortress Investment is acquiring Accordia Golf, Japan’s largest operator of golf courses, for US$3.5bn. Accordia manages over 170 courses in Japan, and was originally established by Goldman Sachs and listed on the TSE back in 2007.
Tokyo, Osaka and Kyoto top Conde Nast’s 2021 global awards as the most attractive cities to visit. International travelers are clearly keen for more of Japan. This bodes well for the hospitality sector there as it reopens to international travelers over the coming months, and various government initiatives are rolled out to boost domestic demand
An MGM Resorts and Orix consortium has been confirmed as the developer and operator of Osaka’s integrated resort/casino. A large site on Osaka Bay has been earmarked for the project which is expected to provide a major boost for Osaka’s economy and tourism industry.
WeWork Japan is pivoting from directly leasing and operating coworking space to a hotel-style management-only structure to continue its growth in Japan. It currently has 38 locations across the country and the new strategy could pave the way for up to 200 locations.