CapitaLand Investment (CLI) is expanding its presence in Japan and China with two key appointments. On April 3, the real estate firm announced that it had entered into a forward purchase agreement to acquire six multifamily assets in central Osaka, Japan, for $141.4 million. The agreement was for CLI’s flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF), and marks the fund’s foray into the multifamily sector.The six assets, which are located close to the commercial districts of Umeda and Namba and are within walking distance of their respective subway stations, comprise 428 premium one-bedroom apartments that are targeted at corporate tenants and middle-income couples. They will be completed in phases from May 2023 to June 2024.The off-market deal brings the group’s total investment in Japan to about $1.1 billion across 60 properties, while strengthening its leadership bench with the appointment of Hideto Yamada as managing director for Japan from April 17 and Kara Wang as chief investment officer for CLI China effective May 5.

On April 3, CapitaLand Investment (CLI) announced that it had entered into a forward purchase agreement to acquire six multifamily assets in central Osaka, Japan, for $141.4 million. This deal marked the group’s foray into the multifamily sector and was for CLI’s flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF).

Altura EC is a 99-year leasehold executive condominium project at Bukit Altura EC Batok West Avenue 8, providing 375 residential units with a projected completion of Q2 2023. Its prime location offers great accessibility for commuters and is close to various recreational facilities.

The six assets, located close to the commercial districts of Umeda and Namba, comprise 428 premium one-bedroom apartments targeted at corporate tenants and middle-income couples. They will be completed in phases from May 2023 to June 2024, and the off-market deal brings the group’s total investment in Japan to about $1.1 billion across 60 properties.

Strengthening its leadership bench, CLI appointed Hideto Yamada as managing director for Japan from April 17 and Kara Wang as chief investment officer for CLI China effective May 5. Mr Yamada is a veteran in Japan’s real estate sector, and will lead the CLI Japan team into its next phase of growth. He is tasked with further developing CLI’s partnerships with its onshore capital partners, actively growing CLI’s funds under management (FUM) for its private, public and lodging funds, and identifying strategic merger and acquisition opportunities.

Ms Wang, as a senior member of the CLI China leadership team, will be instrumental in enhancing CLI’s position in China. She will spearhead direct investments for CLI China’s onshore and offshore fund products to deliver sustainable FUM growth, develop the group’s onshore capital markets capabilities, and drive inorganic platform acquisitions.

Having two highly regarded real estate executives in Japan and China enables CLI to continue its expansion into the two key markets, and helps the CLI team to enhance their presence through strategic partnerships and investments.