(TOKYO) – Hines, a global real estate investment manager, today announced two separate acquisitions in Japan – a premium office building in the heart of Tokyo and a logistics property in greater Osaka. The completed transactions represent the firm’s commitment to deepen its footprint and further expand its growing portfolio in the Japanese market.
The Hines team in Japan secured the off-market office acquisition in December 2023. Named, Zenith Minami Shinjuku, the development is a newly built 14-story office building in Yoyogi, a neighborhood situated between the lively districts of Shibuya and Shinjuku in Tokyo.
In March 2024, the team also closed on the acquisition of Osaka Minoo Logistics an existing fully leased 60,000 square meter industrial property, which is fully powered by renewable energy. The asset is located about 30 minutes from central Osaka – the third most populated city in Japan.
“We buy, we build, and we invest when the opportunity is right,” said Jon Tanaka, country head of Japan at Hines. “Japan remains the most liquid of the major real estate markets in the world with the lowest interest rates. We also continue to see demand rise as tenants gravitate towards well-located, green premium buildings, reflecting employers’ growing interest in sustainability as well as talent recruiting.”
As of 2023, Hines in Japan manages a portfolio of 32 high-performing assets across residential, industrial and logistics, and office sectors worth around US$1.7 billion and totaling nearly 500,000 square meters. Hines has a presence in six Japanese cities including Tokyo, Osaka, Kyoto, Yokohama, Nagoya, and Fukuoka.
“Acquiring high potential assets such as these at the right time is only part of our growth strategy for Japan,” said Tanaka. “We’ve also created value through active asset management including leasing, refurbishment, repositioning, and redevelopment.”
About Hines
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage a $93.2B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 857 properties totaling over 270 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2023.
