ESR Group Welcomes BNPP AM Alts and PGGM as Co-Investors in Yokohama Logistics Asset

ESR Group has entered into a sale and purchase agreement with BNP Paribas Asset Management Alts (BNPP AM Alts) and PGGM for a prime logistics asset in Yokohama, Japan, the firm announced February 16, 2026.

The asset, ESR Yokohama Sachiura Distribution Centre 3 (ESR Sachiura DC3), is the latest addition to ESR's 30-hectare logistics campus at Yokohama City Port. The four-storey facility spans over 165,000 square meters (approximately 50,000 tsubo) and offers modern warehousing space designed for efficiency and scalability.

Strategic Location in Supply-Constrained Market

Strategically positioned with seamless access to land, sea, and air transport networks, ESR Sachiura DC3 addresses growing demand for high-quality, energy-efficient logistics infrastructure in a supply-constrained market. The facility features amenities including landscaped green spaces, lounges, a daycare center, 24-hour retail, and dedicated rest areas for drivers.

Stuart Gibson, Co-founder and Co-CEO of ESR, said the transaction reflects shared confidence in Japan's role as a key global hub. "ESR Sachiura is one of seven large campus-scale logistics parks that we have designed and developed to the highest standards and are positioned in the most strategic locations for our investors and customers," Gibson said.

Core and Core-Plus Investment Strategy

Gibson noted that the flagship assets are positioned to benefit from strong customer demand, secular rental growth, and a projected undersupply of modern facilities following elevated construction cost pressures across the industry. "This investment thesis underpins our Core and Core+ strategies across both fund platforms and single-asset co-investments, offering investors distinctive opportunities through ESR's high-quality, future-ready pipeline of real assets," he said.

BNPP AM Alts is described as the largest alternatives asset manager in Europe. PGGM is a Dutch pension investment manager.

Thijs Schoenaker, Director of Private Real Estate Asia Pacific with PGGM, emphasized the strategic importance of the Greater Tokyo region. "Greater Tokyo is one of the world's largest consumption hubs and real estate markets with a growing need for large modern logistics facilities, driven by the strong structural trends of growth in e-commerce, supply chain optimization and automation," Schoenaker said. "Our investment in ESR Sachiura DC3 reflects our commitment to supporting essential infrastructure that modern economies increasingly depend on."

Long-Standing Partnership Deepens

The transaction deepens long-standing partnerships between ESR and both BNPP AM Alts and PGGM.

The transaction price and specific ownership percentages were not disclosed. The investment strategy is characterized as Core and Core-Plus.

Sources

ESR Group