The portfolio totals over 800 beds in Tokyo, Osaka and Aichi, with 14 of the 15 properties having been constructed after 2013, the French fund manager said Monday in a release.
The facilities are let to five operators and carry a weighted unexpired average lease term of 19 years.
The alternative investment arm of AXA Investment Managers provided no details about specific properties or the identity of the seller, saying only that the transaction was its first in the sector in Japan and was made on behalf of AXA IM Alts clients.
It is been noted that the Japanese care home sector is characterised by a shortage of good-quality stock, even as the number of citizens 65 and older is forecast to grow by 20 percent over the next 20 years, AXA IM said, citing government statistics.
