Kenedix Group Launches $173m Fund to Invest in Japan Hotels

The fund will invest in hotels in Tokyo, Osaka, Kyoto, and Fukuoka.

Kenedix Group
Japan photo by Andre Benz on Unsplash

Tokyo-listed real estate manager Kenedix Inc has launched a private core fund that will invest in hotels in Japan in the next seven years, the company disclosed.

The 19-billion yen ($173 million) fund will be managed by Kenedix Investment Partners Inc, a subsidiary of the company, with plans to invest in hotels in Tokyo, Osaka, Kyoto, and Fukuoka.

Several Japanese institutional investors have committed to the fund, Kenedix said.

“Interest among investors in Japan and other countries in Japan’s real estate market will continue to increase because of the stability of cash flows generated by properties in the country,” Japan’s largest independent real estate asset management firm said.

The firm said it will continue to use its strengths to provide high-quality asset management services in order to meet the real estate investment demand of investors in Japan and other countries.

Established in 1995, Kenedix Group has grown to become the largest independent real estate asset management organisation in Japan. The group’s operations span a diverse array of asset categories.

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There are listed J-REITs, one each for medium-scale office buildings, residential properties, healthcare facilities, hotels, retail facilities, logistic facilities, a private REIT holding large-scale office buildings and other types of properties, and a large number of private funds.

During the cumulative third quarter of 2019, the group posted an increase of about 228.6 billion yen in assets under management. This resulted in the total AUM balance of 2.3 trillion yen ($27 billion).

Additionally, base AUM totalled 1.7 trillion yen, a net increase of about 233.6 billion yen during the same period last year. –

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