Advantage Partners buys apartment management company in Japan
Advantage Partners, the Tokyo-based private equity firm, has acquired a local apartment management company, Marimo Community Co., for an undisclosed amount.
The actual deal value is thought to be several billion yen (several million US dollars). The deal marks the fifth investment for the private equity firm in the apartment management business, and will add a further 15777 rooms, totaling about 145000 flats, to those already managed under Advantages’ portfolio companies.
Marimo Community is based in Hiroshima, and has a Tokyo office with 488 employees as of end August this year. Local media said that the deal came about while Marimo was looking to sell its holdings and Advantage was looking for other industry players in the sector in Japan.
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