Mapletree plans $928m Japan fund

Tamasek Holdings-owned real estate firm Mapletree Investments is aiming to raise ¥30 billion for a Japanese investment fund aimed at sectors including offices and data facilities.

Mapletree Investments, the real estate firm backed by Singapore state-investor Tamasek Holdings, is planning to invest in Japanese real estate via an ¥80 billion (€729 million; $928 million) fund.

According to a report by Reuters, Mapletree aims to raise ¥30 billion in equity for the vehicle, due to launch this year.

It is expected to invest in Japanese offices, data facilities and other “business related” properties in Tokyo and other Japanese cities.

Terence Heng, general manager of Mapletree Investments Japan told Reuters he saw there being a window of opportunity of one to two years in which the firm should make its investments.

Mapletree’s current exposure to Japanese real estate extends to 12 assets, predominantly logistics properties, bought through its Mapletee Logistics Trust

The firm has been particularly active in logistics investment in recent years. In 2008, it teamed up with Arcapita to purchase $1.3 billion of logistics assets in Singapore.