The real estate management firm Pacific Investment Corporation was a branch of Pacific Holdings, formerly the second-largest real estate investment firm by assets in Tokyo, currently managing assets worth approximately 2 billion US dollars, covering 4.73 million square feet of office, retail, and residential space.
– The acquisition of the fund is an important strategic decision, consistent with Cushman & Wakefield’s vision to strengthen the firm’s position and expand our services for clients in major markets – said Michael Thompson, Executive Director of Cushman & Wakefield for the Asia Pacific region. – Recognizing the power of Japan’s economy both at the regional and global level, we aim to accelerate the company’s growth in this market, and the current decision to acquire the fund opens up new opportunities for our company to expand real estate management services in Japan, and later likely throughout the region.
Cushman & Wakefield clients thus gain a market-leading platform offering various investment opportunities as well as planning in terms of acquisitions and investment portfolio strategies, as well as asset management in the mature and demanding Japanese real estate market.
– Expanding our service platform in Japan is an important step forward for our clients – said Todd Olson, Managing Director of Cushman & Wakefield in Japan. – The Pacific Investment Corporation team, consisting of 35 experienced professionals, significantly increases Cushman & Wakefield’s development capabilities in Japan. As our client base in this country expands, we expect a visible increase in employment.
Representative Director and head of the new entity’s parent company (Cushman & Wakefield Investment Advisors K.K.), Yoshiyuki Tanaka, presented the new opportunities offered by the Japanese market: – Due to the loss of credibility by many real estate management companies currently operating on the market, there is a clear demand from the financial sector for comprehensive and professional management services. The financial stability and global reach of Cushman & Wakefield and its reputation in the market, combined with the experience and local market knowledge of the newly formed real estate management company, create an excellent foundation for leveraging existing growth opportunities and significantly increasing the market share of our services provided to both domestic and international investors operating in the Japanese market.