ESR Ichikawa Distribution Center now has M&G's private assets and alternatives company as a majority shareholder - Kassia Condo at Flora Drive By Hong Leong Holdings (Hot Launch 2022)

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M&G Real Estate Asia is part of the company’s private assets and alternative business is now the majority shareholder in ESR Ichikawa Distribution Centre, an logistics facility located located in Tokyo, Japan. In a press announcement, M&G announced that through its M&G Asia core property strategy it has completed the 267 million ($353 million) acquisition that has increased it’s stake in this distribution center to 25% to 58.3%% up to 58.3%.

The property is a four-story facility that is located within Ichikawa City in the Greater Tokyo Bay Area. It has a rentable space of 201,111 square meters (2.16 million square feet) which is completely let out. The building is certified with an CASBEE S rating, the highest rating in the Comprehensive Assessment System for Built Environment Efficiency (CASBEE) green building certification program , which is in use in Japan.

“Acquiring the majority stake for an attractive yield on going-in is a significant achievement that is significant for M&G as we redouble our efforts on our faith and commitment to Japan’s logistic sector which we believe will be a key component of the economy of Japan since the demand for top quality assets continues to be strong,” comments Richard van den Berg who is the M&G’s fund manager for its Asia primary property.