May 6, 2021 - Boston, MA
AEW Capital Management (“AEW”) has acquired Macquarie Innovation Centre for AUD 144 million and a portfolio of 2 multifamily assets in Japan for JPY 5 billion.
Macquarie Innovation Centre is a 12-storey newly completed Grade A office building located in Macquarie Park, strategically located north-west of Sydney. It is positioned in a prominent location with direct access to transport infrastructure, amenities and services with the adjacent Macquarie Shopping Centre, one of the largest regional malls in Australia. The property is approximately 158,000 square feet and is a long-hold, income focused asset leased to a diverse tenant base with a 100% income occupancy rate.
“Macquarie Park is the home of global pharmaceuticals, technology, electronics and telecommunications companies and Macquarie Innovation Center benefits from the resiliency of this tenant base. Additionally, the asset has been awarded a 5-star Green Star design rating and was financed with a green loan delivering on AEW’s target to acquire assets that set a high ESG benchmark.” said David Schaefer, AEW’s CEO Asia Pacific. “We are very pleased to be able to acquire this high-quality property.”
The acquisition of the Japan multifamily assets represents the first investments in Japan for AEW. The portfolio consists of 216 units completed in 2020 and 2021. Located within a short commute to the CBDs in Tokyo and Osaka, the assets are positioned within a short walk to metro stations and amenities. The assets are expected to deliver stable income streams with the continued demand for quality apartments.
Mr. David Schaefer said, “We are extremely pleased that AEW’s inaugural investment in the Japan market has been in the highly sought-after multifamily sector. Through our Tokyo office, we expect to continue to invest in this strong sector.”
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $85 billion of property and securities in North America, Europe and Asia (as of December 31, 2020). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Düsseldorf, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in eight European cities. For more information please visit www.aew.com.
Gross asset value as of December 31, 2020. Total AEW AUM of $85.4 billion includes $41.5 billion in assets managed by AEW SA and its affiliates and $258 million in advisory/subadvisory, wrap and other accounts for which AEW Capital Management provides only a model portfolio.
For additional information, please contact Brian Lambert, AEW, at 1-617-261-9501 or Brian.Lambert@aew.com.