Unified Industrial Growing AUM to $2.8B With Three Ventures in Japan, China

Unified Industrial, the Tokyo-based developer backed by Australia’s Macquarie Asset Management, has expanded its investment activities through three new ventures that will increase the company’s assets under management to $2.8 billion on an end-value basis.

Since forming a strategic partnership with Macquarie in 2021, UI has created two ventures in Japan and one in China, the developer said Wednesday in a release.

Japan Logistics Club II has reached a final closing with a seed asset and has further projects under investment approval that will fully deploy the remaining equity commitments, while the other two ventures are fully deployed across five assets that will deliver more than 430,000 square metres (4.6 million square feet) of gross floor area, according to UI.

“Sustainability remains a top priority for us and we are focusing our pipeline on projects that target sustainable and reliable renewal energy for our tenants as our current development provides,” said Joshua Olsan, CEO and founder of UI.

Osaka Development

UI’s current projects include greenfield developments and value-add opportunities. The latest in Greater Osaka will deliver more than 254,000 square metres, with the first phase of 64,000 square metres fully leased by one of Japan’s largest 3PLs before construction begins.

Phase II of 190,000 square metres is due to commence in the fourth quarter of 2023 and has received solid tenant demand with strong interest for nearly half the space, UI said.

With its existing ventures being fully deployed or identified, UI is looking to further capitalise on its identified pipeline of more than 2 million square metres of developable GFA.

“We are confident that logistics facilities with enhanced functionality and ESG-focused specifications will add value to end customers and bring long-term positive impact to the community, enabling sustainable growth with local employment,” said Ross Antoci, managing director of UI.

UI and Singapore-based SC Capital Partners last year sold a Wuhan industrial park to Chinese e-commerce giant JD.com’s property arm for an undisclosed amount. The warehouse was part of a logistics portfolio in mainland China originally owned by SC Capital, with the fund manager having sold four other assets in the set to the real estate investment unit of banking giant Morgan Stanley in May of last year.

Management Hires

To support its growth, UI has brought aboard Hiroshi Takizawa as the company’s head of business development and chief investment officer.

Takizawa comes to UI from JLL Japan, where he spent two years as executive director and head of industrial on the capital markets team. He previously held senior positions at GSA Star Asia, AMB Property and Walmart Japan.

In more than 38 years of real estate experience in Japan, the Kyoto University graduate has developed, operated and invested in over 2.5 million square metres of GFA.

UI has also hired Ricky May as head of asset and investment management. Before joining UI, May served as executive director at PAG Real Assets, president of CapBridge Asset Management and managing director at JP Morgan Securities Japan.

The Japanese-fluent May holds a bachelor’s degree in law and Asian studies from the University of Sydney and an MBA from Columbia Business School.