Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Remember Me

Lost your password?

Register Now

Loading...
  • Capital Markets
  • Events
    • Mingtiandi 2025 Event Calendar
    • Mingtiandi APAC Residential Forum 2025
    • Mingtiandi Singapore Forum 2025
    • Mingtiandi APAC Logistics Forum 2025
    • Mingtiandi APAC Data Centre Forum 2025
    • Mingtiandi Tokyo Forum 2025
    • More Events
  • MTD TV
    • Residential
    • Logistics
    • Data Centre
    • Office
    • Singapore
    • Tokyo
    • Hong Kong
    • All Videos
    • Post-Event Stories
  • People
    • Industry Moves
    • MTD TV Speakers
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

AXA IM Acquires Mixed-Use Property in Tokyo’s Shibuya Area for $48M

2021/09/27 by Christopher Caillavet Leave a Comment

Ikejiri-Ohashi, Meguro-ku, Tokyo AXA

AXA’s new assets in Tokyo’s Meguro-ku

One of the most prolific foreign investors in Japan’s real estate market is back for more, with AXA IM Alts picking up a newly built mixed-use property in a central Tokyo tech hub for €41 million ($48 million).

The alternative asset arm of AXA Investment Managers bought the property in the Ikejiri Ohashi submarket at the fringe of the bustling Shibuya area from local real estate firms Raysum and Tokyo Tatemono, according to a press release.

Just completed in May, the property at 2-22 Ohashi Meguro-ku comprises two adjacent buildings, each with two floors and a basement, and provides 4,750 square metres (51,129 square feet) of commercial space, meaning AXA IM Alts paid roughly $10,105 per square metre.

“AXA IM Alts believes that Ikejiri Ohashi is becoming an increasingly desirable office submarket for IT, marketing and apparel companies, attracted by the established residential offering, open spaces, relatively affordable rents and its accessibility,” said the French fund manager, which acquired the asset on behalf of clients.

Office Sweet Spot

The property was developed by Raysum in a joint venture with Tokyo Tatemoto, with Raysum holding majority ownership of the land. The buildings are a one-minute walk to the new Toho University Ohashi Medical Centre and a four-minute walk to Ikejiri Ohashi railway station, which sits one stop away from Shibuya station and eight stops (about 21 minutes) from Otemachi station in Tokyo’s central business district.

Laurent Jacquemin AXA

Laurent Jacquemin of AXA Investment Managers

The Ikejiri Ohashi submarket has benefited from an urban regeneration project and the trend of businesses downsizing their headquarters to smaller, lower-density office space as a result of changing working habits caused by the COVID-19 crisis, said AXA IM Alts, which manages assets worth €163 billion worldwide.

Alyssa Partners Japan, an independent asset manager, sourced and negotiated the acquisition of 2-22 Ohashi Meguro-ku on behalf of AXA IM Alts and will continue to act as a co-asset manager alongside the European firm.

A source familiar with the transaction told Mingtiandi that one of the two buildings is leased to an established Japanese apparel company, while the other is being kept vacant in anticipation of a market recovery. The empty space is suitable for office, retail, showroom or medical facilities, the source added.

In addition to its relationship with AXA, Alyssa announced in January that it had teamed up with US-based fund manager PGIM Real Estate on the JPY 9.2 billion ($88 million) purchase of four newly completed apartment projects in Tokyo containing 282 homes.

Overcoming COVID

Despite the pandemic’s chilling effect on in-person dealmaking, AXA IM Alts has fired off a string of acquisitions in Asia’s second-biggest economy across multiple real estate categories.

The firm revealed in May that it would pay JPY 4.2 billion ($38.6 million) for 282 rental units in the city of Sendai, notching its 15th investment in the country’s residential market on behalf of clients.

Before that northern excursion, the fund manager had scooped up a JPY 70 billion ($669 million) Tokyo apartment portfolio late last year and made a pair of acquisitions in the city of Nagoya in mid-2020: an apartment complex in Nakamura ward for JPY 20 billion ($186 million) and a 10-storey residential tower in Chikusa ward for an undisclosed sum.

AXA’s industrial deals have included the JPY 39 billion ($368 million) acquisition of a Tokyo-area warehouse leased to Amazon as part of a joint venture with Hong Kong-based ESR, announced in August 2020, as well as the purchase of its first data centre in Japan, a 20,000 square metre facility near Tokyo, for JPY 22 billion ($210 million) late last year.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: Finance Tagged With: Alyssa Partners, AXA Investment Managers, Featured, Tokyo, weekly-sp

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Mingtiandi Delivered

  • This field is for validation purposes and should be left unchanged.
320x320 CorporateV2

MTD TV

China Rental Housing Sector Here to Stay Says Warburg Pincus Executive
China rental residential panel Veronica Huang
Brookfield, LaSalle, VLinker Point to China Rental Residential Rebound – MTD TV

More MTD TV Videos>>

People in the News

Raymond Lee Paul Hastings
Law Partner Picks Up Hong Kong Home of Former Birmingham City Boss for $37M
Teo Chee Hean Temasek
Asia Real Estate People in the News 2025-06-09
Lincoln Pan Jardines
Asia Real Estate People in the News 2025-06-02
Donald CHOI Chinachem
Former Chinachem CEO Donald Choi Named Managing Director of Hong Kong’s URA

More Industry Professionals>>

Latest Stories

Stuart Gibson, ESR Group Co-founder and Co-CEO
ESR to De-List as Shareholders Approve $7B Buyout by Starwood, SSW, Sixth Street Consortium
Colin Lam Henderson
Henderson Signs US Trader to Record Lease in Hong Kong Waterfront Project
Dugald Marr
Nuveen Raises $421M for Australia Real Estate Debt Fund With Fresh Capital From CPPIB

Sponsored Features

How to Create a Win-Win for Investors and Occupiers
Lingeage Logistics Cold Storage Complex
Mount Maunganui Cold Storage Facility for Sale
7 in 10 Senior Directors Confident in Data Centres, but Talent Shortage Will Widen

More Sponsored Features>>

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • Mingtiandi 2025 Event Calendar
  • MTD TV Archives
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Mingtiandi Memberships
  • Newsletter Subscription
  • Advertise
  • Terms of Use
  • Privacy
  • Join the Mingtiandi Team


© 2007-2025 China Advertising Media Ltd (Samoa). All rights reserved.

We use cookies in accordance with our Privacy policy to provide the best user experience on Mingtiandi and to safeguard user data. By continuing to browse you consent to the policy. AcceptRefuse