Warburg Pincus announced the acquisition of two logistics properties in Greater Tokyo through its Warburg Pincus Asia Real Estate Fund (WPARE). The total value of the transaction is about US$240 million. The properties, IMP Inzai and Logitres Sano, were purchased from Mitsui Fudosan Logistics REIT using a bridge financing structure.
Both properties are located in important logistics hubs around Tokyo. They are modern and fully leased facilities that serve e-commerce and third-party logistics companies. IMP Inzai is a five-story building completed in 2018 with a gross floor area of 110,516 square meters. It is leased to an e-commerce tenant and has received a DBJ Green Building 4 Star rating. The facility is within 40 kilometers of central Tokyo, close to major roads such as National Route 16 and the Chiba Kita interchange on the Higashi Kanto Expressway, making it accessible for air cargo moving through Narita Airport.
Logitres Sano is in Tochigi Prefecture and was completed in 2023. It has two stories and a gross floor area of 7,144 square meters. Its location provides access to key national roads and expressways, supporting distribution across Northern Kanto.
Takashi Murata, Managing Director, Co-Head of Asia Real Estate and Head of Japan at Warburg Pincus, said, “E-commerce expansion and rapid urbanization continue to drive strong demand for modern logistics facilities in Japan. Coupled with a structural imbalance in certain submarkets where demand significantly exceeds supply, we have strong conviction in the sector’s long-term potential. These acquisitions align with our strategy to deepen our exposure to high-quality logistics assets in core Japanese markets, where tenant demand remains robust. IMP Inzai and Logitres Sano offer a compelling combination of income stability and value creation opportunities, supported by strong tenancy, full occupancy, and strategic connectivity.
This investment also reinforces our broader plan to scale investment activities in Japan. Recent investments include the acquisition of Tokyo Beta, the largest share house portfolio in Japan with over 16,000 rooms, and the acquisition of Shinagawa Seaside West Tower by our joint venture with Eastgate Group, which focuses on life sciences and R&D real estate.”
Warburg Pincus continues to be active in Asia’s logistics sector through investments in ten portfolio companies or ventures including ESR, QUBE Industrial, BW Industrial, Wide Creek, and Hale. The firm plans to open an office in Japan as part of its expansion strategy for real estate and private equity investments.
The company manages more than US$86 billion in assets globally across over 220 active portfolio companies from various sectors.