Japanese property developer Samty Holdings has sold two portfolios of newly built multi-family assets totalling 49 billion yen (S$425 million) to international sovereign wealth funds.

Although the buyers have not been officially disclosed, real estate intelligence firm Mingtiandi has indicated that Singapore’s sovereign wealth fund GIC is likely to be among the investors.

The divestment comes months after Samty’s privatisation, which was led by Asian private equity group Hillhouse Investment, founded by Zhang Lei. In January, Hillhouse and its real estate arm, Rava Partners, completed a ¥169 billion buyout of Samty, which had previously been listed on the Tokyo Stock Exchange.

According to Samty, it will continue to act as the lead asset manager for both investment pools. Together, the portfolios comprise 30 residential properties, multiple dwelling units within single buildings or complexes, developed and owned by the company.

Roughly 70 per cent of the assets are situated in established neighbourhoods of Tokyo, Osaka, and other major Japanese cities, with strong proximity to public transportation networks. This positioning is expected to help capture tenant demand and support rental growth.

The first portfolio, containing eight properties, will be managed solely by Samty, while the second, consisting of 22 properties, will be co-managed by Samty and Alyssa Partners, a privately held real estate investment management firm based in Japan.