ESR, an Asia-Pacific focused real asset owner and manager, has expanded its investment partnership with TPG Asia Real Estate through the majority sale of ESR Yokohama Sachiura Distribution Centres 1 and 2 in Japan for an undisclosed sum. ESR will retain a minority co-investment stake and continue providing asset management services for the facilities.
The transaction marks the second time ESR and TPG Asia Real Estate, the Asia platform of U.S.-based TPG Real Estate, have joined forces on a Japan logistics asset repositioning, following ESR’s 2021 exit from an Osaka investment.
ESR Sachiura DC1 and DC2 are four-story, double-ramp logistics facilities with a combined gross floor area of over 390,000 square meters (approximately 4.2 million square feet). The assets are part of the 81-acre ESR Yokohama Sachiura Logistics Park.
Patrick Bracha, managing director, TPG Asia Real Estate, said, “We welcome the completion of this landmark investment in Japan’s logistics sector, which is a core investment theme for us and underscores our long- term commitment to the market.”
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