Clifford Chance

Clifford Chance advises Allianz Real Estate on investment in prime multi-family residential assets in Tokyo

Leading international law firm Clifford Chance has advised Allianz Real Estate on its investment in prime multi-family residential assets in Tokyo with an aggregate acquisition price of €110 million (US$122 million). The investment relates to 11 newly built assets with 275 units offering 8,400 sq m of net rentable area. All assets are located in Tokyo's 23 wards, and are stabilised with a well-diversified tenant base.

Partners Eiichi Kanda and Leng-Fong Lai and counsel Yoshiaki Shimizu led on the deal, with support from a cross-border team in Tokyo (associates Tomoki Goto, Machiko Ishii and Yuki Nakatori) and Singapore (partner Raymond Tong and senior associates Ee Nian Lim and Jervis Chan).

Leng-Fong said, "We are proud to advise Allianz Real Estate on this strategic investment, their second residential real estate investment in Japan. This deal showcases our ability to work seamlessly across borders and guide financial investors as they seek out potential opportunities for investments."
Eiichi added, "With the present market conditions, residential in Japan has proven to be more resilient than asset classes like commercial and we are pleased to be assisting our client with this successful transaction."