Securityholders in the Astro Japan Property Trust have voted overwhelmingly to sell the trust and its $1.1 billion portfolio of Japanese retail, office and residential properties to US private equity giant Blackstone for $430 million.

Almost 100 per cent of securityholders backed the 37.9 billion yen takeover offer at an extraordinary general meeting in Sydney on Wednesday. The approach by Blackstone was revealed in August and unanimously recommended by the Astro Japan board who were advised by Fort Street.