PGIM Real Estate has acquired an office building in Tokyo on behalf of its Asia Pacific core investment strategy for an undisclosed sum.
“Tokyo’s economic recovery is expected to outperform the national average in Japan, with stronger employment growth expected over the next two years driven by the consumer, finance, and public sectors. In particular, we believe that well located and well managed office assets will demonstrate resilience through this cycle, driving attractive post-pandemic value growth,” Benett Theseira, PGIM Real Estate’s head of Asia Pacific, said.