APG has been recognized as the real estate Institutional Investor of the Year in Asia-Pacific by leading industry publication PERE. The award recognizes APG’s Asia-Pacific real estate strategy and it’s achievements through the past year. Particular mention was made of APG’s confidence in the South Korean market, demonstrated by its $400 million commitment—on behalf of its pension fund clients—to the South Korean Logistics Core Fund.
“We are honored to be recognized by PERE as the real estate Institutional Investor of the Year in the Asia-Pacific region,” says Graeme Torre, Managing Director, Asia-Pacific Real Estate at APG. “This recognition reflects the deep local market knowledge we have cultivated over our two decades in the region and would not have been possible without the exceptional APG team and our network of collaborative partners around the region. Over the past year, we have made significant accomplishments and created substantial value for our clients under our Real Estate strategy by combining a “megatrend” strategy, a rigorous process and local partnerships.”
Key investments
“Our team has been busy across the Asia region with judicious exits and acquisitions occurring throughout the year. Apart from establishing two new open ended core funds with partners in Korea and Australia, we have expanded and supported our existing platforms in the traditional sectors of logistics and rented residential in Japan, Australia, Hong Kong and Korea. Likewise in the alternatives sector our partnerships in data centres, life sciences and self-storage have seen great success. We have also reduced risk in emerging markets such as China with successful stabilization and refinancing of key assets and reducing our overall exposure over the year.”
One of the key highlights of APG’s strategy was its February 2024 investment in the South Korean Logistics Core Fund, which focuses on modern logistics facilities—a sector experiencing strong demand due to demographic shifts, urbanization, technological innovation, and the expanding digital economy.
Just two months later, APG expanded its partnership with Scape Australia, a leading student housing operator, strengthening its position in the affordable housing sector. This move aligns with the region’s urbanization trends and demographic changes. Earlier this year, APG also invested in Scape Australia’s flagship student housing vehicle, further reinforcing its commitment to this growing sector.
“Through our extensive network of strategic partnerships and differentiated local expertise, we remain focused on advancing our clients’ priorities for delivering strong returns and long-term sustainable outcomes,” Torre adds.
Broader shift
PERE notes that its 2024 Awards, based on an industry poll, reflect a broader shift in private real estate investment strategies across Asia-Pacific. Investors are increasingly focusing on developed markets such as Japan, Australia, and South Korea, moving away from China. Notably, Tokyo has maintained its position as the top destination for cross-border real estate investment for six consecutive years, while Greater China dropped out of the top 10 for the first time in the survey’s history.