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STC-invested fund buys into properties in Japan for 880.58m yen
THE Straits Trading Company Ltd said that a Japanese real estate fund that it has invested into has snapped up properties in Japan for 880.58 million yen (S$10.62 million).
The fund is managed by Savills IM Japan Residential Fund GP Pte Ltd, a limited partnership established in Singapore to acquire residential properties located in the Greater Tokyo area and other key markets in Japan.
The properties, located in Asakusabashi, Taiko-ku and Narimasu, Itabashi-ku were completed in December and November last year respectively.
They have a total of 88 apartment units with a total net lettable area of 2,487.4 sq m.
Straits Trading had said earlier this month that SRE Japan 11, as a limited partner of the fund, will commit nine billion yen into the Savills IM-managed fund.