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June 4, 2019

Sumitomo Mitsui, Aberdeen Standard Investments form real estate investment JV

Sumitomo Mitsui Trust Bank (SuMi TRUST Bank) and Aberdeen Standard Investments (Asia) have formed a joint venture (JV), which will prioritise real estate investments in Japan.

The JV will focus on investments in multi-family, student housing, corporate housing, and senior housing across mature markets in Asia Pacific.

The aim will be to boost capital and income through acquisition of newly-built properties on a forward commitment basis.

At the same time, the JV will acquire older properties that can be revamped.

Notably, the JV will look to incorporate sustainable elements into investment.

Commenting on the alliance, SuMi TRUST Bank said: “It is intended that SuMi TRUST Bank will, in the capacity of co-sponsor, make certain equity contribution by way of “same boat investment,” and that our group company, Sumitomo Mitsui Real Estate Investment Management Co., Ltd. will provide asset management services for the properties located in Japan.

“SuMi TRUST Group, through the operation and management of this joint venture, will contribute to the development and promotion of the residential sales market in Japan.”

Earlier this year, Aberdeen Standard Investments snapped up real estate investment manager Orion Partners.

Orion has presence in Hong Kong, which serves as its base, in addition to Tokyo, Seoul and Singapore.

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