Real estate investment manager, Savills Investment Management (IM), has announced a further expansion in the region with the launch of its first Asia-Pacific Income and Growth Fund (APACIG), followed by a number of senior appointments made to its Sydney’s office.
The new fund, which would target an internal rate of return (IRR) in the region of 8% to 10%, with investments focused on developed markets and key gateway cities across the region including offices, logistics/industrial, retail and residential sectors, would be available to institutional investors and family offices.
Savills IM, which manages properties in the Asia Pacific region worth approximately US$1.6 billion ($2.07 billion), said the APACIG already exchanged its first two acquisitions bringing the firm’s total assets under management (AUM) in Australia to around US$310 million.
The firm also announced several senior appointments to its investment team in the Sydney office, which included the appointment of Greg Lapham, who had spent the last decade in Hong Kong and joined from BalckRock, to a position of the firm’s head of investment of Australia.
Lapham would be supported by investment director Guy Sainsbury, who recently joined Savills IM from Lendlease, and two newly appointed investment manager and investment analyst, Anthony Lupis and Jacob von Egmond, respectively.
Lapham said that Australia was an important and attractive destination in the region for the real estate investors, due to its transparency, and would continue to play a prominent role in the firm’s expansion in the Asia-Pacific region.
“It’s likely that the next deal will be in Japan where we have a strong investment presence and where we believe growth prospects in certain sectors are very positive,” he said.