AXA Real Estate invests in Japan
AXA Real Estate Investment Managers has raised €130 million at the first close of its Japanese Commercial Real Estate Debt investment vehicle from a Japan-based AXA Group insurance company.
AXA Real Estate stated that additional capital funding was expected from AXA Insurance companies and third party institutions.
The real estate fund and asset manager stated it was a long-term believer in the Japanese economy and the underlying fundamentals of its real estate market despite the recent natural disasters.
“We believe that the Japanese economy, as a whole, will recover in a relatively short space of time, at which point the underlying imbalance of supply over demand in real estate lending will be the same as before,” said AXA Real Estate’s global head of Asia, Frank Khoo. “The fact that many banks in the region still have limited capacity to lend on commercial real estate remains unchanged and this presents a clear opportunity for us to satisfy some of the significant demand in the region, whilst delivering value for our investors.”
AXA Real Estate stated that the investment vehicle would be managed by an experienced in-house team of local property experts. It will be able to invest in loans of between three and ten-year terms.
AXA Real Estate stated that its total global investment capacity into debt is now over €2.7 billion.
Recommended for you
The Australian Bureau of Statistics has reported the October figure for CPI inflation, driven by significant falls in electricity as the result of government rebates.
Boosted by its newly launched private credit division, asset manager HMC Capital has set an ambitious growth target of 42 per cent per annum over the next three years to reach $50 billion in assets under management.
With clients concerned about credit valuations, AXA Investment Managers’ Chris Iggo has stated bonds will “easily beat” inflation over the next 12 months.
BlackRock’s director of wealth distribution has told Money Management that the asset manager has rebalanced its model portfolios to trim its fixed income exposure.
