Mubadala forms $600 mln Japanese residential property venture | Reuters

Mubadala forms $600 mln Japanese residential property venture | Reuters

Abu Dhabi state investor Mubadala has formed a joint venture with Proprium Capital Partners and Manulife Investment Management to build an up to 80 billion yen ($572 million) property portfolio, Mubadala and Proprium said on Wednesday

Samurai Capital, a leading asset manager with significant experience in managing property assets, will partner the venture.

"The joint venture was seeded with existing rental multi-family properties in Japan and will seek to acquire additional assets," Proprium Capital said in its statement.

Targeting urban dwellers in Tokyo and Osaka, the seed assets are high-quality properties with convenient access to railway stations and nearby neighborhood amenities, Proprium added.