Withers KhattarWong LLP, the Singapore office of international law firm Withers, recently represented Nuveen Real Estate, one of the world’s largest investment managers with approximately $156 billion of assets under management, in the establishment and initial US$100 million close of its Japan Alternatives Living fund with participation from institutional real estate investors Bouwinvest and TIAA.
The fund will primarily target senior housing assets and may also pursue investments across alternative living sectors, such as student housing, co-living and single-family opportunities across Greater Tokyo, Osaka and Nagoya.
The Withers team provided Nuveen Real Estate fully integrated legal, regulatory, and tax support for the project, and was led by Singapore-based Funds Partner Daniel Yong, with the support of Senior Associate Lui Yu Kwang and Associate Tung Teck Huat. Tax structuring advice for the new fund was provided by Eric Roose, APAC International Corporate Tax Leader, Singapore Tax Partner Leon Kwong Wing and Associate Charles Kwek, and Japan Tax Partner, Kohei Kobayashi and Associate Tomoyuki Nakamichi.
Daniel Yong comments: “We are delighted to have been able to bring together our funds and tax attorneys in our Singapore and Japan offices to support key client Nuveen on this transaction. We continue to enhance our integrated funds and tax capabilities in Asia in our commitment to deliver a one-stop, multi-practice service to both investors and fund managers.”