![]() “It is a long time since we focused on a discretionary fund,” he said, adding that was a route it would follow only if no other means were available to invest in a sector. However, he noted that funds were among the least favoured options. Torre said the fund would consider other investment structures in Asia’s property market, including joint ventures, integrated owner-operator platforms, club deals, development, acquisition, debt and funds. Sharon Chan, director of Asia Pacific capital markets research at CBRE, told AsianInvestor that logistics yields in Korea were likely to fall this year, noting that Korea enjoyed among the highest levels of e-commerce penetration in the region. Logistic yields in Beijing last year were 4.9%. In April 2020, APG entered a $1 billion joint venture CPPIB and operator ESR to create a logistic portfolio in Korea, adding to $1.5bn of investment the three had already made in Korea.Īccording to CBRE, prime logistics yields in Seoul last year were 4.3% in developed Asia, only those of Singapore, which has restrictive land tenure rules, were higher, at 6.7%. In August 2021, APG announced an initial $1 billion investment with Singapore’s GIC in ESR a newly launched logistics platform targeting assets across China’s leading cities, which aims to raise up the $4 billion. Torre has identified the high level of e-commerce penetration of Asia’s developed markets but also regulatory benefits, including the break-up of South Korea’s large chaebol family-owned conglomerates which released logistics and other real estate assets onto the market. The Vietnam deal represents APG’s first foray into emerging Asia for a fund that has hitherto focused on China, Korea, Australia, Hong Kong and Japan. Torre also declined to say whether it was considering other logistics assets in emerging Asia but in 2020, which was one of the fund’s busiest years in the region, he told AsianInvestor he was interested in Indonesia’s logistics sector, pointing to the country’s strong manufacturing base. The new platform has six development sites already acquired in Greater Hanoi and Greater Ho Chi Minh City, comprising a total land area of close to 900,000 square metres. The deal, in which APG invested alongside Canada’s Manulife, mirrors APG’s historical preference for investing alongside other large institutional investors, which Torre said offers the benefit of access to larger deals as well as governance benefits.ĪPG declined to say how much it had invested in the GLP platform. ![]() GLP Vietnam Development Partners I, which has an investment capacity of $1.1 billion is managed by GLP, a $120bn logistics real estate and infrastructure manager. In January, APG invested in a new logistic platform in Vietnam with aims to be among the largest logistics development funds in Southeast Asia. APG declined to share the detail of its Asia property allocations. “The team now numbers 17 with additional headcount to be added,” he said, noting that it had added two people to its Asia team since last summer. “Outperformance in real estate will require an understanding of, and exposure to, the operations of this asset class, hence we tend to have a bias towards partnering with operators wherever possible,” Graeme Torre, APG’s head of private real estate for Asia Pacific, told AsianInvestor. The sought after Fairmont Hill Community offers swimming pools, playground, tot lot, volleyball and racquetball courts, and is a part of the acclaimed Placentia-Yorba Linda School District.APG has expanded its headcount in Asia and is looking to build on a major recent logistics allocation in the region as it expands beyond Asia’s core developed markets via its favoured investment model of partnering with operators. Extra parking is available on the street. The 1 car garage is directly below the unit, and there is also 1 assigned parking space. The large patio is fenced and perfect for relaxing. The home includes a smart thermostat and Ring doorbell. The laundry room is inside the unit and includes the washer and dryer. The bedrooms are well sized and comfortable. The guest bathroom has a rain shower and large soaking tub. Your master suite has a private full bathroom with a sit-in shower and a walk in closet. The custom kitchen cabinets are complemented by tile accents and stainless steel appliances. Enter the open living area and notice the crown molding and high baseboards. The home features Designer paint throughout with recessed lighting and vinyl flooring. ![]() Welcome Home! Completely Renovated in 2019, this upstairs condo is packed with upgrades and quality finishes.
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