Insights and analysis on the Japan market.
Genting and Melco Resorts are the only two gaming companies to progress to the next stage of Yokohama’s integrated resort operator selection process. Genting has teamed up with Japan’s Sega Sammy Holdings and Kajima Corporation, and Melco is partnering with Taisei Corporation. It will be interesting to see which consortium prevails.
Goldman Sachs, one of the largest real estate investors in Japan since the 1990s, is looking to ramp up its investment in the market. Focus will be on logistics facilities, data centres, multi-family and other asset classes with growing demand.
Allianz Real Estate is looking to significantly increase its already sizable residential portfolio in Japan with the announcement of a new US$1bn fund dedicated to the sector
Starwood Capital has launched a takeover bid for Invesco’s Office REIT in Japan. The REIT has been attracting the attention of analysts for some time for its performance vs peers. It will be interesting to see if other private equity funds join the bidding process. If successful, this will be the first REIT buyout in the market since the Star Asia Group acquired the Sakura Sogo REIT in early 2020.
The first major hotel portfolio deal for some time in the Japan market – Blackstone acquires 8 hotels in Osaka and Kyoto from Kintetsu for US$550m.