Mubadala Investment Co., Proprium Capital Partners and Manulife Investment Management set up a joint venture, which will partner with Samurai Capital to invest ¥80 billion ($574 million) in multifamily real estate in Japan, a spokeswoman confirmed.
Mubadala manages $276 billion in global assets for the government of Abu Dhabi.
The joint venture was initially seeded with existing rental multifamily real estate in Japan and will seek to acquire additional high-quality real estate in urban areas with good access to railway stations and amenities.
The investments are to deliver attractive and sustainable returns for shareholders through reducing the carbon footprint of the buildings, a news release said.
"Japan's multifamily property sector has proven to be resilient and stable, offering attractive risk-adjusted returns with significant future growth potential," Matthias Neuling, head of Asia and DACH real estate for Mubadala, said in the release.
"Japan is a key strategic market for Mubadala, and we look forward to working with our partners to create long-term value and deliver sustainable high-quality living spaces for communities across the country," he added.
Further details were not disclosed.
