Mapletree successfully closes Japan logistics fund

MAJIC is expected to manage over $1.0b in assets.

Mapletree Investments has announced the successful closing of the Mapletree Japan Investment Country Private Trust (MAJIC).

The venture represents Mapletree's second Japan logistics development fund and its third fund centered on Japan, following previous triumphs in logistics development and office sectors that surpassed initial target returns.

MAJIC is expected to manage over JPY110b ($1.0b) in assets upon full deployment and project completion.

“Amid the uncertain economic climate, Japan remains a preferred investment destination in the Asia Pacific region,” said Hiew Yoon Khong, chief executive officer of Mapletree.

“Interest from domestic and international investors in Japan continues to be driven by the overall resilience of its real estate sector and confidence in Japan’s continued economic performance after its emergence from decades of stagnation,” he added.

Khong also said MAJIC builds on the success of previous Japan-focused funds, delivering strong returns exceeding 20% IRR.

The fund's portfolio includes three strategically located logistics development projects near major metropolitan areas, aligning with the growing demand for modern logistics facilities in Japan.