Exploring opportunities and trends in Japan’s diverse real estate landscape

20 Jun 2024 @ Tokyo

  • Conference BrochurePDF
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    Understanding post - deflation Japan - Japan Macroeconomic overviewPDF
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    Japanese real estate market in APACPDF
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    Sectors fireside chat slidesPDF
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    Data Centres slidesPDF
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    Capital flow trendsPDF
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ANREV 7th Japan Conference was successfully held on 20 June 2024 in Tokyo.The premier event brought together industry leaders, professionals, and experts to delve into the dynamic real estate landscape of Japan. With the conference theme "Exploring Opportunities and Trends in Japan's Diverse Real Estate Landscape," it provided valuable insights and fostered meaningful discussions on the latest developments in the industry.

The ANREV Japan Conference 2024 addressed key topics that are shaping the future of real estate in Japan and the broader APAC context. Our lineup of esteemed speakers shared their expertise and experiences, ensuring a thought-provoking and engaging event. The conference covered the following areas:

  • Macroeconomic Update: Valuable insights into the current macroeconomic landscape and its impact on Japan's real estate market.
  • Japan Real Estate Market in the APAC Context: Explored the position of Japan's real estate market within the larger APAC region and identified opportunities for growth and investment.
  • Fireside Chats on office, residential, and logistics sectors.
  • Data Centers: The role of data centers in Japan's real estate landscape and their significance in the digital economy.
  • Hospitality: Opportunities and challenges in Japan's hospitality industry.
  • LPs Panel: Navigating the Future: Engaged in a panel discussion with LPs as they shared their perspectives on navigating the future of real estate investments in Japan.

We believed that the ANREV Japan Conference 2024 provided an excellent platform for networking, knowledge sharing, and exploring potential collaborations. It was an event not to be missed for professionals and stakeholders seeking to stay ahead in the ever-evolving real estate sector.

Attendees took advantage of expert knowledge and high-level attendees from Japan and beyond to learn, share knowledge and experience, and inform their future business decisions.

Details

Date

Thursday, 20 June 2024

Venue

Andaz Tokyo Toranomon Hills, 1-23-4 Toranomon, Minato-ku, 105-0001, Tokyo

Time
  • 12:00 Registration & lunch
  • 12:45 Conference programme
  • 18:05 networking drinks
  • 20:00 concludes.
Fee
  • Free of charge for Japanese LPs - by invitation only
  • USD800 for members
  • USD1600 for non members
RSVP

This conference is fully booked. Please email [email protected] to join the waiting list. Thank you.

Speakers

Keisuke Manabe
Vice President, Business Development, APAC
Ada Infrastructure (GLP)

Keisuke Manabe has over 15 years of experience promoting green IT solutions for the data center industry in the ASEAN region. His background includes new site development, marketing, and operations. Manabe is currently focused on new DC developments in the Japanese and APAC markets(ex-China). Prior to joining Ada/GLP, he worked with Equinix in Tokyo as the Manager of Regional Business Development and a Steering Committee member of the Japan DataCenter Council, a part of the Japanese Ministry of Economy, Trade and Industry.

Nori Matsushita
Head of Japan
Airtrunk

Nori oversees AirTrunk’s Japan business and expansion plans, as well as the company’s local partnerships.

Nori joined AirTrunk from Mapletree Japan and held leadership positions in real estate development and investment at PwC, Deutsche Bank and GE Capital.

Charles Haase
Chief Executive
ANREV

Charles Haase is Chief Executive of ANREV, the Asian Association for Investors in Non-Listed Real Estate Vehicles. ANREV is a member driven non-profit organisation producing research and indices relevant to the private real estate industry in Asia Pacific, and promoting improved transparency and best practices across the region.

Prior to joining ANREV, Charlie had experience on both sides of the investment table, working for Aetos Japan and Tokyu Fudosan Holdings Corporation in Tokyo, and for the California State Teachers’ Retirement System in the United States. Prior to joining CalSTRS, Charlie was on the Economics faculty of San Francisco State University. He holds a Ph.D. in Economics from the University of California, Davis.

Stephen Tross
Chief Investment Officer - International Investments
Bouwinvest

Stephen Tross joined Bouwinvest as COO International Investments in 2009.

As per January 1st, 2010 he was appointed Chief Investment Officer - International Investments and subsequently joined the Management Board of Bouwinvest.

Stephen has been working in the international real estate industry since 1990. Previously, he was a Director at KPMG responsible for KPMG’s real estate audit practice in The Netherlands and held several positions with PricewaterhouseCoopers in The Netherlands, the U.K. and the U.S.  He is a certified public accountant in the Netherlands and a professional member of The Royal Institution of Chartered Surveyors.

Stephen has held several board positions at real estate industry organizations. He is a member of the Management Board of ANREV, the Asian Association for Investors in non-listed real estate vehicles, where he also served as Chairman in 2022 and 2023.

Takashi Tsuji
President & COO
CBRE

After graduating from the Faculty of Engineering at the University of Tokyo, Mr. Tsuji joined Mitsubishi Corporation in 1991. After a posting in the Logistics Business Division, he was seconded to Mitsubishi Corporation‘s (Americas) New York headquarters in 1997 and worked in the venture investment business.
After returning to Japan in 2002, he worked in the real estate securitization business mainly through the development of and investment in logistics facilities. He was transferred to Diamond Realty Management Inc. (DREAM), the private equity real estate platform established by Mitsubishi Corporation in April 2012 and became President and CEO of DREAM in November of the same year.
Mr. Tsuji joined CBRE in April of 2019 as Head of Capital Markets Japan, overseeing the real estate investment business. He was promoted to President & COO of CBRE K.K. in October of 2023, and leads approximately 1,400 real estate professionals all across Japan.

Sean McMahon
Chief Investment Officer
Charter Hall

Sean has over 30 years of property, construction, finance and investment banking experience in the real estate sector and across listed, wholesale and direct capital markets. He is responsible for the Group’s strategy and balance sheet investments, mergers and acquisitions, with oversight for multi-sector property transactions and corporate development. Sean is also responsible for the diversified sector and related development activities, whilst overseeing the wholesale investor relations, legal and cosec teams.

Sean brings a wealth of experience across investment markets and diversified sectors, driving the development of corporate and fund strategies, capital allocation and reinvestment programs.

Prior to joining Charter Hall, Sean worked at diversified property group Australand (now known as Frasers) as the Chief Investment Officer and was responsible for the Group’s investment in office, industrial, residential, and retail property developments. Before this, Sean was a senior executive in the Property Investment Banking division at Macquarie Bank.

Across his career, Sean has played key roles in over $100bn of transactional activity across domestic and international markets and has had extensive experience in the Residential Living sector across a diverse range of market segments, culminating in over $20 billon of residential investment and development activity. 

Mari Kumagai
Head of Research & Consulting, Japan
Cushman & Wakefield

Mari joined the firm as Head of Research & Consulting for Japan in October 2021. Previously, she was Vice President, Global Research & Strategy at LaSalle Investment Management. In this role she was responsible for formulating investment strategy and updating local market views through internal research reports and investor presentations customized to an investment mandate, for institutional funds. Mari has over 25 years’ experience in servicing global institutional investors as an equity, credit, and institutional property investment research analyst at leading financial institutions, including PIMCO, Citigroup and UBS. She has been acknowledged for the accuracy of her equity research, covering both the Japanese financial services and real estate sectors. As a credit analyst at Moody’s, she led the credit rating processes for sub-sovereign entities and government related entities in Japan.

Mari received a Master of Business Administration in Finance from UCLA Anderson School of Business and holds a Bachelor of Laws from Keio University. She started her career as a Certified Public Accountant covering U.S. tax schemes for Japanese investors in the late 1990s.

Koichiro Maeda
Head of Alternative Specialists, APAC
DWS

Joined the Company in 2014 with 21 years of industry experience. Prior to his current role, Koichiro served as Head of Alternatives Specialists, Japan. Before that, he served as Head of Real Estate for Japan. Prior to joining, he headed the business development and disposition initiatives for Japan at Prudential Real Estate Investors (PGIM Real Estate). Previously, he was an executive director for investment banking in Japan at Morgan Stanley. He started his career at Mitsui Fudosan.

BA in Economics from Keio University; MA from The School of Arts & Sciences of the University of Pennsylvania; MBA from The Wharton School, University of Pennsylvania

Greg Vinson
Partner
EQT Exeter

Greg Vinson joined EQT Exeter in November 2019 as Portfolio Manager fo rthe firm's European industrial core funds. He has over 15 years of experience investing in the logistics sector.

Prior to joining EQT Exeter, Mr. Vinson served as Senior Director of Clarion Gramercy where he was responsible for sourcing, negotiating and closing logistics investments throughout Europe. Previously, Mr. Vinson was based in the US where he managed European and US transactions for Gramercy Property Trust and CBRE Global Investors.

Mr. Vinson holds an MBA from the Wharton School of University of Pennsylvania. He is fluent in Spanish. 

Wako Toyama
Vice President
GLP Capital Partners

Wako Toyama serves as the Vice President at GLP Capital Partners Japan, where she is accountable for managing fund, including overseeing performance and underwriting acquisition projects for the Japan Income Fund, an open end fund managed by GLP.

Since joining GLP in 2019, she has been in charge of Japan Development Venture I and was responsible for restructuring the fund.  Before joining GLP, she worked for the Real Estate Development division at Mitsui & Co, in charge of logistics facility development in South East Asia based in Singapore.

Wako holds a Bachelor's degree in Law from Tohoku University and is a certified public accountant registered with the Guam Board of Accountancy.

Chiang Ling Ng
Chief Investment Officer - Asia
Hines

Chiang Ling Ng serves as Chief Investment Officer, Asia, and is responsible for investment and fund strategies for Hines in the Asia region. She provides additional coverage for Asian investors to access global opportunities and plays a key role in steering Hines’ global investment strategy as a member of the firm’s Executive and Investment Committees.

Based in Singapore, Chiang Ling brings more than 25 years of investment management experience in the Asian real estate private equity industry, having previously held leadership roles at M&G Real Estate Asia and the real estate private equity division of Goldman Sachs.

Chiang Ling is the current chairperson for the Asian Association for Investors in Non-Listed Real Estate Vehicles (ANREV) and served as the association’s deputy chairperson from 2022-2023.

Chiang Ling is a graduate of Princeton University and holds a BSE in Electrical Engineering. She is fluent in English, Mandarin and Japanese.

Hirohisa Fujimoto
Vice President Development Japan & Micronesia
Hilton

Hiro joined Hilton Tokyo Regional Office in January 2009 as Director of Development for Japan. He has been responsible for driving the expansion of the pipeline for 23 brands under Hilton, including Hilton Hotels & Resorts, Conrad Hotels & Resorts, and DoubleTree by Hilton and many other brands from lifestyle to luxury.

Starting from 6 hotels when he joined Hilton, Hiro has been involved in development business including Hilton Fukuoka Sea Hawk (opened 2010), Hilton Okinawa Chatan Resort (opened 2014), Hilton Tokyo Odaiba (opened 2015), Conrad Osaka (opened 2017), KIKYO Curio Collection by Hilton in Karuizawa (opened 2018) and more.  Today, Hilton in Japan has grown to 27 hotels, and already 8 hotels are under pipeline.  Recent upcoming openings include Canopy Osaka (2024), Hilton Kyoto (2024), Waldorf Astoria Osaka (2025), Waldorf Nihonbashi (2026) and more business opportunities are under way. He also oversees development of the Micronesia region and has been promoted to his current position in 2020.

After graduating from Shinshu University with a degree in economics, he first joined Nissin Sugar.  During his tenure, he gained experience of developing hotels and resorts in Asian Pacific region for 13 years. In 1996, Hiro was appointed as Director of Development for the famous El Nido Resort in the Philippines. In 2000, he was promoted to Executive Director and General Manager.  While aggressively developing resort facilities, Hiro also has been an eager advocate of community-based hotel projects and has supported WWF (World Wide Fund for Nature) and the El Nido Foundation. He also worked with Soriano Aviation as Executive Director and Amanpulo as deputy management officer.  After returning to Japan, he served as Vice President of the Real Estate Business Division at Simplex Investment Advisors for three years before joining Hilton.

Yoshito Nishikawa
Executive Managing Officer
Hulic

Yoshito Nishikawa is Executive Managing Officer at Hulic Co,Ltd and responsible for entire process of new property investment, including to establish portfolio strategy, to source property acquisition opportunities and to execute them.

Examples of his department’s recent investment include:

  • Simplex Investment Advisors as company M&A
  • the Grand Pacific Le Daiba Hotel (current: Grand Nikko Hotel, Daiba)
  • Tiffany Ginza
  • Dentsu Headquarters
  • Otemachi Place
  • Logisteed’s four logistic properties

Before Hulic, he worked for the following three companies.

  • Mitsubishi Corp-UBS Realty (2006-2013)
  • Promoted to Fund President in 2008
  • Created a real estate fund from scratch and IPOed on Tokyo Stock Exchange
  • Received the fund of the year award from Reuters for three consecutive years from 2011
  • LaSalle Investment Management (2003-2006)
  • Promoted to National Director, Acquisition, in 2004
  • Tokyo Tatemono (1987-2003)
  • Introduced Japan’s first real estate securitization product

Education:

  • 1983-87 University of Tokyo Bachelor Degree
  • 2014         Harvard Business School  Advanced Management Program
Sumito Yokoyama
Specialist, Real Estate Investment
Japan Post Insurance

Mr. Sumito Yokoyama serves as a specialist of real estate investment at JAPAN POST INSURANCE Co., Ltd. ("JPI") and responsible for both listed and private real estate fund investments mainly in Japanese market.

Prior to joining JPI in 2018, he was an investment manager at Sompo Japan Insurance Inc. During his working at Sompo Japan he was seconded to the Cabinet Office government of Japan as a staff economist for research on overseas economics for 2 years.  

He holds a Bachelor’s degree in Industrial relations from Rikkyo University.

Fuminori Asaki
Head of Data Center Advisory Services, Capital Markets Japan
JLL

Fuminori Asaki has been the Head of Data Center Advisory Services at Capital Markets Japan since joining Jones Lang LaSalle K.K. in 2024. He has been providing advisory and consulting services for data center real estate since 2016, when the Japanese data center market began to expand. Prior to that, he had more than 10 years of experience in the financial industry at various firms such as AllianceBernstein and BNY Mellon. Additionally, he has 9 years of experience as a systems engineer at firms including Goldman Sachs. Drawing on his experience as an equity analyst and programmer, he provides comprehensive advice from various perspectives in technology, finance, and real estate.

Master of Science, Graduate School of Science and Technology, Keio University

Bachelor of Science, Faculty of Science and Technology, Keio University

David Cheong
Co-Head of Acquisitions, Asia Real Estate / Managing Director
KKR Asia Limited

David Cheong (Hong Kong, Tokyo) joined KKR in 2015 and is the Co-Head of Acquisitions on the Asia Real Estate team. Mr. Cheong serves as a member of the Asia Real Estate Investment Committee as well as on the board of KJR Management, KKR's Japan-based real estate asset management platform. Before joining KKR, Mr. Cheong was a portfolio manager at LIM Advisors, overseeing public equities and special situation investments in Asia-Pacific, based in Hong Kong. Before LIM, Mr. Cheong was a member of the Lehman Brothers Real Estate Private Equity team in Tokyo. He started his career at Lehman Brothers Global Real Estate Group in New York. Mr. Cheong holds an M.B.A. and an M.A. from the Wharton School and the Lauder Institute as well as a B.A. and a B.A.S. from the University of Pennsylvania.

Kosei Hatakeyama
CEO
MC Digital Realty

Kosei Hatakeyama is the Chief Executive Officer and Representative Director of MC Digital Realty (MCDR) since April 2023, overseeing all management matters.

Prior to joining MCDR, he served as the Head of Strategy Planning, Urban Development Division, and General Manager of Real Estate Business Department at Mitsubishi Corporation. He successfully rebalanced and optimized global real estate investment portfolios valued at $4 billion while assuming the role of a board director for both US and Japan-based subsidiaries.

From 2019 to 2022, Mr. Hatakeyama played a key role in corporate planning at Mitsubishi Corporation's Tokyo headquarters. Reporting directly to the company's president, he contributed to managing company-wide investment portfolios worth a $100 billion. Prior to that, as the President of MC Aviation Partners Americas in Irvine, CA, from 2015 to 2019, he provided executive leadership and oversaw all company-related matters.

Seiko Ikeda
Head of Japan
M&G Real Estate

Seiko Ikeda is Head of M&G Real Estate Japan. Seiko first joined M&G in June 2016 as part of the acquisitions team based in Singapore, and relocated to Japan in 2018 to lead the local acquisition team as Director of Acquisitions, prior to taking on her current role since 2022.

Seiko has over 25 years of experience in Real Estate, Finance and Management Consulting. Prior to joining M&G, she was Director of Business Development at GE Capital Real Estate, where she lead the launching of Investment Management business and also the business disposition of GE Capital Real Estate in 2015. Also she served as the Project Manager at Roland Berger, a German management consulting firm, and developed corporate strategies for various industries. She started her career in Sumitomo Mitsui Banking Corporation engaging in M&A advisory and corporate finance.

Seiko earned a Bachelor of Laws and International Relations from Keio University, Japan.

Dr Sabine Schaffer
Managing Partner
Pro-invest Group

Dr.Sabine Schaffer is Managing Partner at Pro-invest Group, focusing on structure and asset management of the Group’s funds. Pro-invest Group is an asset manager and investment firm which was established in 2010 from industry veterans who have been active in the Private Equity Real Estate space for more than two decades. With close to AUD 2 billion assets under management, Pro-invest Group specialises in Private Equity Real Estate and Real Estate Asset Management and have become one of the largest hotel investment platforms in Australasia. With more than 30 sector-specific specialists in the Sydney office, the Group operates as a locally established, integrated private equity real estate business combining active asset management, development and operational capabilities, providing our investors with above industry risk-adjusted returns in the hospitality, commercial and retail space.

Sabine has an extensive track record in private equity real estate, having over 20 years experience in setting up and managing Private Equity Funds, sourcing co-investment opportunities as well as capital markets. Sabine has focused on the Real Estate side, where she worked on the set up of a Real Estate Development Fund in the Gulf Cooperation Council region for newly built office buildings. At Pro-invest Group, Sabine oversees the asset management side of the business. The primary responsibilities of her team are the structuring of Real Estate investment vehicles, the fund management of the various hotel portfolios, procuring equity as well as bank financing as well as looking after reporting to all stakeholders. Sabine holds a Master’s degree from Harvard University as well as PhD in Economics from Leopold Franzens University, Innsbruck, Austria.

Akio Nakamura
Managing Director, Head of Capital Deployment & Development
Prologis

Head of Capital Deployment & Development team at Prologis since March 2022, Mr. Nakamura is responsible for land acquisition, development and leasing for the Japan operations, charged with managing customer accounts for both Japanese as well as global customers.

After joining Prologis in April 2005, Mr. Nakamura has been responsible for a number of new development projects, and is now mainly charged with projects in the Tokyo and Sendai market.

Prior to joining Prologis, Mr. Akio worked for one of the major Japanese construction companies in Japan, Takenaka Corporation, whereby he was responsible for urban planning and commercial development projects, from the planning stage through the implementation and leasing phase.

Mr. Nakamura received his MSc and BSc in Architecture from Waseda University, and is a 1st Class licensed architect.

Peter Lesburg
Managing Director, Global Head of Capital Markets
Realterm

Mr. Lesburg is responsible for fundraising, product development, capital strategy and other capital markets initiatives across Realterm. Previously, he was an investment banker covering the real estate industry at Wachovia Securities, Stifel Nicolaus, Legg Mason and J.P. Morgan. Mr. Lesburg holds an AB in East Asian Studies from Harvard University and a JD and MBA from Georgetown University.

Joseph Kraft
Founder
Rorschach Advsiory

Born in Japan and fluent in Japanese, Joe Kraft graduated from the University of California, Berkeley in 1986. He started his career in finance at Morgan Stanley New York and transferred to the Tokyo office in 1987. He became Managing Director in 1997 and co-head of Asia FX Trading & Sales. In 2003, he also oversaw the Fixed Income Trading Division. Retired from Morgan Stanley after 21 years, he took on the position of Head of FX Trading & Sales as well as Deputy Branch Manager at Bank of America Japan. In 2015, he founded Rorschach Advisory which specializes in macro-economic and financial research as well as geo-politics. In this role, he engages with Japan and US government as well as industry specialists. In 2020, he became an outside Board Member of the Sony Group and in 2024 an outside Board Member of Tokyo Electron Ltd.

Suchad Chiaranussati
Chairman and Founder
SC Capital Partners

Mr. Chiaranussati has successfully led SC Capital Partners in its investments and provided key leadership and direction since its inception.

Prior to founding SC Capital Partners at the end of 2004, Mr. Chiaranussati spent approximately six years with Westbrook Partners, where he opened its Asia office in Singapore in early 1999 and served as Principal and Managing Director responsible for Asian investment activities. Prior to joining Westbrook, Mr. Chiaranussati spent seven years at JPMorgan, based in Singapore and covering Southeast Asia, serving as a Vice President in the Proprietary Investment and Investment Banking groups, focusing on real estate and financial institutions. Prior to JPMorgan, Mr. Chiaranussati worked at Temasek Holdings, an investment holding company for the Government of Singapore, and the Central Bank of Thailand. In 1998, Mr. Chiaranussati was appointed as an advisor by the Central Bank of Thailand and other bodies to assist in the restructuring of the public and private sectors of Thailand.

Mr. Chiaranussati received an Honors Degree in Economics from the London School of Economics in 1986 and a Master of Science in Management Science at the Imperial College in London in 1987.

Akane Kazaoka
Senior Researcher, Global Real Estate Research Dept
SMTRI

Akane serves as Senior Researcher at Sumitomo Mitsui Trust Research Institute(SMTRI). After joining SMTRI in 2008, she worked as an investment advisor for listed J-REITs for 10 years. For the past 12 years, she does research and analysis of global real estate market(especially US market) and global REITs.

BA in Economics from Keio University; MSc in Finance, Accounting and Law from Waseda University.

Hidetoshi Ono
Country Head – Japan
Tsao Family Office

Hidetoshi Ono recently joined Tsao Family Office (TFO) to lead their real estate investment and portfolio management in Japan. TFO was established in July 2016 to manage the assets of the Tsao family, one of Asia’s most enduring family businesses with a history that stretches over a century. The investment proceeds fund various philanthropic initiatives through Tsao Foundation and other organizations.

Hidetoshi has more than 30 years of real estate and senior management experience in abrdn, Manulife, AXA, ING (now CBRE GI), GE, and Mitsui Fudosan. Before joining TFO, he was Head of Direct Real Estate –Japan and responsible for managing 15 senior housing value- add portfolio in Japan. Prior to abrdn, Ono-san was the Managing Director, Japan Real Estate at Manulife where he was responsible for the company’s real estate investment in Japan as well as the corporate real estate needs for the life insurance operation with 100 locations nation-wide. At AXA, Ono-san was Head of Japan Core Fund based in Singapore. He was the Managing Director/Country Manager-Japan for ING Real Estate where he started their Japan Office, grew the business in four years to US$3 billion assets under management with 45 people. Ono-san holds MBA from Stanford University and graduated from Hitotsubashi University with Bachelor of Social Studies.

Nat Miller
Senior Vice President
QuadReal

Nat Miller is based in Hong Kong with QuadReal Property Group where he focuses on the firm’s Asia Pacific portfolio.  He was formerly with IMT Capital, a multifamily fund manager based in Los Angeles, where he was responsible for underwriting, financial analysis, and fundraising across four funds totaling $1.8 billion in committed capital.  Previously, he held positions at J.P. Morgan as a credit analyst and coverage banker.  Nat started his career with Colliers International in China, focusing on the industrial and logistics sector.  He holds a BA from the College of William & Mary and an MA from the Johns Hopkins School of Advanced International Studies.