MacquarieÆs property fund scoops up in Japan

The launch of a new Japanese residential brand foreshadows more residential acquisitions by MacquarieÆs real-estate fund.

Macquarie Global Property Advisors MGPA has announced the purchase of buildings in Sapporo and Tokyo.

MGPA has paid $52 million for an office building located in the Chiyoda ward of Tokyo near to the Kudanshita subway station. It has a floor space of 7,500 square metres over nine floors. MGPA plans to add value and boost rentals by refurbishing the building.

MGPA has also bought a 30-floor residential tower in Sapporo next door to the local GovernorÆs residence, comprising of...

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