TPG Buys Majority Stake in Japanese Logistics Assets From ESR

TPG Asia Real Estate has acquired a majority stake in some logistics assets in Japan from ESR Group Ltd.

The assets are ESR Yokohama Sachiura Distribution Centres 1 and 2, in which ESR will retain a minority co-investment stake, TPG Inc. and ESR said in a joint statement Tuesday, without disclosing financial terms. ESR plans to continue to provide asset management services for the facilities.