APREA Japan Annual Conference

Sigrid is the Chief Executive Officer of Asia Pacific Real Assets Association (APREA). Based in Singapore, she is responsible for overseeing the strategic direction, initiatives and operations of the association across Asia Pacific. Under her leadership, APREA repositioned to an industry trade group focusing on real estate and infrastructure.

Sigrid joined APREA’s executive team in January 2019.

Prior to APREA, she served as Managing Director of Asia Pacific Research and Advisory Services of Cushman & Wakefield (C&W) from 2010 through 2018, where she was responsible for research, thought leadership, strategy formulation and client management.  Before relocating to Singapore, she was based in Washington, D.C. and led C&W’s U.S. research group in the Mid-Atlantic region, overseeing all aspects of market research activities in the Washington, DC; Virginia; Suburban Maryland, Baltimore; and Philadelphia areas. Prior to joining C&W, Sigrid served as a Senior Economist for the National Association of Realtors (NAR). In that position, she developed NAR’s office, warehouse, retail, multi-family housing, and international research programs.

A recognized expert in global economic, public policy and real estate issues, Sigrid is a frequent speaker at industry events.  Her commentary on commercial and residential real estate markets is also regularly featured in a wide array of global publications, including the Wall Street Journal, Financial Times, Bloomberg, New York Times and Reuters. Additionally, she has made several television appearances on financial networks and radio such as CNBC, Bloomberg, CNN, National Public Radio and Channel News Asia.

Sigrid holds a Master of Business Administration from Cornell University’s Johnson Graduate School of Management and a Master’s degree in Economics from Pennsylvania State University. She is a member of several civic groups including the Rotary Club of Raffles City in Singapore, where she has served in various leadership positions, and serves in the Executive Committee of the Crohn’s & Colitis Society of Singapore.

He has over 30 years’ experience in real estate business with Sumitomo Corporation locally and globally.

In Japan, he held several key positions responsible for real estate developments, investments and asset management as well as consulting service business in all kinds of asset class such as residential, commercial and logistic sectors.

In US, he had senior managerial positions between 1992 and 2001, and between 2010 and 2013, being responsible for office investments and residential developments.

He received Bachelor of Architecture in 1983 from Kyoto University. He is a licensed architect in Japan, an ARES Certified Master and a Fellow of the Royal Institute of Chartered Surveyors (RICS).

Paul Madden CMG advises business and writes and comments on trade and Asia Pacific issues. He was previously British ambassador to Japan (2017-21), Australia (2011-15) and Singapore (2007-11). He is a Visiting Professor of International Relations at Keio University, Tokyo. He is a member of the Advisory Board of ESR. His latest book, Sankyu Japan, was published in 2022.

Mr. Shimada joined Mitsui Fudosan Hanbai Co. He has experience in brokering a wide range of properties from private residences to commercial real estate (development sites, offices, cash registers, hotels, logistics, etc.).

He was most recently seconded to an AM company in Japan for three years until March 2023, where he experienced sourcing, acquisition, and disposition of office buildings.

After returning to Japan, he has been engaged in sales to institutional investors such as funds, REITs, and life and non-life insurance companies at his current position since April 2023.

新卒にて三井不動産販売㈱（現 三井不動産リアルティ㈱ ）入社。

個人住宅から事業用不動産（開発用地・オフィス・レジ・ホテル・物流等）まで幅広い物件の売買仲介経験を有する。

直近、2023年3月までの3年間は国内AM会社に出向し、オフィスビルのソーシング、アクイジション・ディスポジション業務を経験。

帰任後の2023年4月より現職にてファンド・REITや生損保等の機関投資家への営業に従事。

<Biography>
April 1997 joined Mitsubishi Corporation (Industrial Machinery Dept., Industrial Machinery Div.)

April 2002 Construction & Equipment Unit, Environment & Development Project Div. (The Div. name changed to Development & Construction Business Div. in 2004)

August 2008 Leave of absence, Full-time union executive committee chairman

October 2009 Real Estate Development Business Unit, Development & Construction Business Div.

October 2010 Real Estate Finance Business Unit

April 2013 Seconded to Diamond Realty Management Inc. General Manager, Fund Planning Dept., Business Planning Div.

January 2015 Member of the Board, Division Director, Investment Management Div., Diamond Realty Management Inc.

April 2017 Team Leader, North America Real Estate Team, North America Real Estate Development Dept, Real Estate Business Div.,

April 2018 General Manager, Real Estate Business Management Office, Real Estate Business Div.,

April 2019 Team Leader, Real Estate Business Management Dept, Urban Development Div.

September 2019 Seconded to Diamond Realty Investments, Inc. (Dallas) Senior Vice President.

November 2019 Chief Operating Officer, Diamond Realty Investments, Inc.

April 2023 President and CEO, Diamond Realty Management Inc. (Scheduled)

Background

Mr. Ueno joined Mitsubishi Real Estate Services Co., Ltd. (MRES) in 2001 and has built his career by engaging in variety of real estate brokerages such as brokerage of investment properties, advisory services related to business restructuring, voluntary sale of secured real estate and real estate M&A etc. He was appointed the General Manager of the Investment Brokerage Department in 2019, and has overseen deals with major investment companies, resulting in a cumulative total of Approx. 200 billion JPY in transactions. Prior to joining MRES, he worked for a well-established construction company where he was engaged in accounting operations.

Mr. Ueno holds Certified Master of ARES (The Association for Real Estate Securitization), Authorized Real Estate Consulting Master and 1st grade Certified Skilled Professional of Financial Planning.

Hideaki oversees Research & Consulting and Marketing & Communications departments for Japan & Korea. He provides clients with strategic research insights for their informed decision making. His clients include multinational companies (MNCs) and institutional investors such as Sovereign Wealth Funds (SWFs) and REITs, conducting consulting works to validate their real estate strategies. Prior to C&W, he was with MSCI, a global index and analytics service provider, being in charge of growth of MSCI’s real estate services in Japan (previously known as IPD). He joined MSCI through the acquisition of IPD (Investment Property Databank, a global unlisted real estate index & benchmarking service provider) where he analyzed performance of unlisted real estate portfolios for institutional investors in both London and Tokyo. Hideaki holds a Doctorate Degree in Economics from Reitaku University Graduate School. His specialty focuses on real estate's low liquidity in a dynamic asset allocation model for a multi-asset-class portfolio and his thesis received the Yuasa Prize for its contribution to the industry from Japan Association for Real Estate Sciences. He also holds a master’s degree in Real Estate Finance and Investment from Henley Business School at University of Reading and BSc in Real Estate from Meikai University. He is an Adjunct Associate Professor at Reitaku University.

Irene Rika Shimada, Executive Director, is a portfolio manager in the International Equity Group – Global Real Estate Securities team. An employee since 2005, she was previously an analyst in the RDP Equity Group covering the Japan and Developed Asia-Pacific Real Estate sectors. Prior to this, she worked in the Investment Banking division of Merrill Lynch Japan Securities. Irene holds a BSc in Government and Economics from the London School of Economics and an MSc in Real Estate Economics and Finance also from the London School of Economics. Irene is a CFA charterholder.

Kazuhiko (Kaz) Watanabe, CEO of ESR REIT Management Ltd. Prior to being appointed to CEO in February 2021, he worked at REDWOOD (currently ESR) from 2014, where he earned extensive knowledge and expertise of warehouse leasing, fundraising, financing and M&A business. Prior to ESR/ESR REIT Management Ltd., he worked at Sumitomo Mitsui Banking Corporation and ATENA Corporation. His established career in finance and logistic industry leads his success in REIT business to gain an A long-term issuer rating to ESR Japan REIT Inc. with Stable Outlook by Japan Credit Rating Agency in 2023. Graduated Keio University with a bachelor’s degree in economics.

He joined Global Logistic Properties Inc. (presently, GLP Japan Inc.) in 2016. After serving as the Head of Fund management in Japan, he was appointed as the President of GLP Japan Advisors Inc. in 2019.

Prior to joining GLP, he worked for Nippon Life Insurance Company where he was engaged in overseas operayions and international real estate investments. In addition to arranging syndicated loans while stationed in Hong Kong, he served as Head of Real estate investments, overseeing the portfolio of U.S. office buildings and U.S. and European private funds at a real estate investment subsidiary in New York. He was then transferred to Nissay Asset Management Corporation, an asset management arm of Nippon Life Insurance Company, where he served as Chief Portfolio Manager of the Investment Planning Department before being appointed Head of the Corporate Planning Office, where he was involved in the formulation of asset management strategies.

B.A. from Waseda University.

Mr. Fujikawa has been covering real estate and Infrastructure industry since 2003 as a lead coverage banker in Investment Banking Division

<Working Experience>
Oct. 2009- current: SMBC Nikko Securities Inc. (formerly, Nikko Cordial Securities Ltd.)
A part of Investment Banking Division in Nikko Citigroup Ltd. was transferred to Nikko Cordial Securities Ltd. in Oct. 2009.
Jul. 2012 - current: Managing Director/ Head of Real Estate & Infrastructure Group, Global Investment Banking
Jun. 2011- Jun. 2012: Managing Director, Investment Banking Division
Oct. 2009- May 2011: Director, Investment Banking Division
Jul. 2001 - Sep. 2009: Nikko Citigroup Ltd. (formerly, Nikko Salmon Smith Barney Japan Ltd.)
Jan. 2008 - Sep. 2009: Director, Investment Banking Division
Jan. 2005 - Dec. 2007: Vice President, Investment Banking Division
Jul. 2001 - Dec. 2004: Associate, Investment Banking Division
Apr. 1995　- Jul. 1998: The Long-Term Credit Bank of Japan (currently, Shinsei Bank)
Apr. 1998 - Jul. 1998: Financial Analyst, Investment Division
Sep. 1997 - Mar. 1998: Seconded to Corporate Finance Division of SBC Walburg
Apr. 1995 - Sep. 1997: Financial Analyst, Corporate Finance Division

<Education>
Master of Business Administration: Simon Business School, University of Rochester　(Class of 2001)
Bachelor of Science in Economics: Keio University (Class of 1995)

<Other>
Enjoy driving, travelling, and taking photographs of wild animals including brown bears and killer whales.

Etienne Cadestin is the founder and global CEO of Longevity Partners.  He has more than ten years of expertise in sustainable property investment and strategy. With a team of nearly 200 experts, Etienne provides responsible business and climate advisory services to some of the world’s largest property investment firms. Prior to founding Longevity Partners in 2015, Etienne worked at Knight Frank, JLL and the United Nations Environment Programme.

 Since 2020, Etienne sits on the board of Orée, the leading French think tank on Biodiversity, circular economy and ESG reporting. In 2019, Etienne won the EG Awards in the category ‘Future of Real Estate’. Before that, Etienne was picked to be a ‘Property Rising Star’ and nominated for numerous awards as one of the most active young leaders in the sector.

With a mission to advance and future-proof the real estate industry, Etienne frequently speaks at leading events, sharing insights on topics such as smart cities, carbon neutral buildings, workplace well-being, and the future of the industry.

Naoki Suzuki is President of KJR Management, a KKR subsidiary and the largest manager of listed J-REITs, since April 2022 as well as Chief Sustainability Officer since January 2020. Naoki joined Mitsubishi Corp.-UBS Realty Inc. (current KJR Management) in January 2012 as Head of Research, and later served as Deputy President of the subsidiary, MCUBS MidCity, as well as Deputy President of Mitsubishi Corp.-UBS Realty Inc. before taking the current position. Prior to that, Naoki worked as an equity and real estate security analyst and fund manager at Lupus alpha Asia, Schroders, UBS Asset Management and LTCB and F&C Investment Management. Chartered Financial Analyst (CFA). Bachelor of Law, The University of Tokyo.

Career Experience

Apr. 2022 : General Manager, Real Estate Finance Department

Apr. 2021 : General Manager, Real Estate Finance Corporate Business Office
Joint General Manager, Real Estate Finance Department

Apr. 2018 : Joint General Manager, Real Estate Finance Department

Apr. 2012 : Group Head, Real Estate Finance Department

Aug. 2005 : Joined Sumitomo Mitsui Banking Corporation

Education

Keio University, Bachelor of Economics, March 1995

He joined the bank in 1995. He has been involved in real estate finance business since the early days of that in Japan in the late 1990s. He was in charge of many types of finance, including acquisition type and off-balance sheet type, as a pioneer in development-type real estate finance for some mega-development projects. He also has extensive experience in the real estate finance field, including advising on development projects as a financial advisor and financing the launch of J-REITs. He currently covers Japan and other parts of Asia Pacific as General Manager of Real Estate Finance. Most recently, he was in charge of investment banking strategy for Mizuho Financial Group, and has extensive financial experience, including overseas fund coverage banker, promotion of non-Japanese business throughout Asia Pacific in Singapore and structured finance such as leasing and securitization in the United States.

Wataru Goto is a Managing Director in the Real Estate group and is based in Tokyo. Since joining Blackstone in 2010, Mr. Goto has been involved in evaluating real estate investments in various property types and managing investments in Japan.

Before joining Blackstone, Mr. Goto was an Associate in the Bank of America Merrill Lynch Real Estate Private Equity group, where he was involved in acquisition, restructuring and portfolio management

1996年三菱商事株式会社に入社、以後一貫して不動産開発、建設元請、不動産仲介・コンサルティング、不動産運用等、不動産・開発建設の分野に携わる。2014年から英国のUBS Asset Management (UK)に出向、UBSグループとの英国不動産を対象とした共同ファンドの立上げに従事。2015年には在英MC Asset Management Europe Ltd.のCEOに就任、三菱商事が欧州で展開する不動産ファンド、ヘッジファンド、インフラファンド等の運用を統括。2017年より不動産本部戦略企画室長として三菱商事の不動産事業全般の経営企画、戦略立案に従事。2021年よりダイヤモンド・リアルティ・マネジメント株式会社の代表取締役社長に就任、国内と北米に於ける私募リート、私募ファンドの運用事業を統括、同社を日本を代表する私募不動産ファンド運用会社へと成長させた。

In 1996, he joined Mitsubishi Corporation, and since then has been consistently involved in the real estate and development construction field, including real estate development, construction prime contracting, real estate brokerage and consulting, and real estate management.

In 2014, he was seconded to UBS Asset Management (UK), where he was involved in the establishment of a joint fund for UK real estate with the UBS Group. In 2015, he was appointed CEO of MC Asset Management Europe Ltd. in the U.K., where he oversees the management of MC's real estate funds, hedge funds, and infrastructure funds in Europe, etc. From 2017, as General Manager of the Real Estate Division's Strategic Planning Department, he is responsible for corporate planning and strategic planning for MC's overall real estate business. In 2021, he was appointed President and Representative Director of Diamond Realty Management K.K., overseeing the private REIT and private fund management business in Japan and North America and growing the company into a leading private real estate fund management company in Japan.

Hideaki is a partner in Global Compliance and Reporting group of EY Japan Tax, where he is a tax leader of Real Estate, Hospitality & Construction Sector. He specializes in tax compliance and consulting for real estate companies and real estate or infrastructure investing funds including J-REITs. Prior to joining EY, he worked at the tax department of US multinational conglomerate company. Hideaki is a Japanese Certificated Tax Accountant. He graduated in economics from Tokyo Metropolitan University.

Mari is an EY Japan Tax Partner in International Tax and Transaction Services, and since joining EY in 2017, she has been focusing on tax structuring advisory services for inbound real estate investment clients. Immediately prior to joining the firm, Mari led the fund accounting team of a global real estate fund management company in Tokyo for 10 years. She led tax and accounting projects involving European and Asian domiciled funds, as well as listed J-REIT investments in domestic real estate. She is a Japanese Certified Public Tax Accountant.

Kenji Utsumi is a partner at Nagashima Ohno & Tsunematsu and recognized as a leading lawyer in Real Estate practice at various legal awards. He has advised clients, as their main legal counsel, on large real estate transactions, several of which are awarded as the Real Estate Deal of the Year Award, Asian Legal Business, Japan Law Awards for years 2019, 2018, 2017, 2009, and 2008. Mr. Utsumi regularly counsels a number of TSE and SGX listed REIT clients as well as real estate private equity funds on a wide range of matters including formation, public offerings, M&A and restructuring of REITs and real estate private equity funds. Mr. Utsumi has substantial experience with respect to real estate private equity funds and has represented fund arrangers, fund investors, lenders and tenants, and was recently informed that he is known as “the lawyer who has assisted his clients in acquiring the largest amount of real estates in Japan.”

Hank Hsu is the Co-Founder and Chief Executive Officer of Forest Logistics Properties.  Formerly the Head of China Investments at Ascendas-Singbridge, an industrial and logistics real estate investment platform under Singapore’s sovereign wealth fund, Temasek Holdings, Hank has close to 20 years of experience in real estate investment and fund management. Prior to Ascendas-Singbridge, he served as Investment Director at China Orient Summit Capital (China) and Portman Group (US). He has completed and managed investment transactions totalling nearly USD 6.5 billion in logistics, industrial and mixed-use properties in China and the US. He holds an MBA degree from University of California, Berkeley, and a MDes (Real Estate) from Harvard University.

Jesper Palmqvist is based in Singapore and as Senior Director he leads STR in Asia Pacific since 2013. His career spans across hospitality, online travel, IT and music. Originally from Sweden, he frequently presents the latest trends and updates at industry events and media outlets.

STR, a CoStar Group company [NASDAQ: CSGP], tracks daily historic and future supply and demand data as well as monthly financial data for the hospitality industry and provide valuable market share analysis for global hotel and investment companies and agencies across the globe..

Katsuyuki Victor Mineta has more than 30 years of global and institutional real estate investment, development and management experience where 17 years from Meiji Yasuda Life Insurance Company, 4 years from AMB Property (current Prologis) in Japan as its Representative Director and an Advisory Committee member, and 10 years from KIC Asset Management. He currently serves as CEO of KIC Holdings, Inc. and its affiliate companies. He is also a council member of Japan Association of Logistics Property Appraisal and chairman of Self Storage Securitization Association (Japan).

Patrick is CEO of Private Equity Alternative Assets at CapitaLand Investment (CLI), responsible for driving the growth of CLI’s private equity business in alternative assets such as digital infrastructure, private credit, renewable energy, and other investment strategies that will expand CLI’s unlisted funds business.

Prior to joining CLI in 2021, Patrick was Managing Partner and Head of Asia at Brookfield Asset Management (BAM), overseeing Brookfield’s investment and asset management activities in Asia across real estate, infrastructure, renewable energy and private equity. Over the course of his 12-year career with BAM, Patrick also served as Chief Financial Officer of Brookfield’s global construction company and Managing Director of an Australian natural gas transmission and distribution portfolio. He also previously held senior positions in the infrastructure financing and development sector in Canada.

Patrick has over 20 years of investment and operational experience in alternative assets across North America and Asia Pacific.

Patrick holds a Bachelor of Commerce (Honours) from McMaster University in Ontario, Canada. He is a Chartered Professional Accountant (Canada) and Certified Professional Accountant (United States).

Peter Young is a real estate investor and fund manager with a significant track record in investing in the developed markets of the UK, Western Europe, US and Australia across multiple real estate sectors.

Peter manages capital and co-invests alongside Family Offices, High Net Worth Individuals and Institutional Investors across debt and equity in specialist real estate living sectors, including purpose- built student accommodation, multi-family housing, co-living and senior housing. As CEO of QIP, he oversees the regulated asset management business and leads the team in sourcing and managing strategic investment opportunities. He has executed on a range of real estate transactions totalling USD $500m.

Shai is the co-lead of JLL's Japan Capital Markets - International team where he covers the firm’s strategic clients and international institutions investing in, or looking to invest in Japan.

Prior to that, Shai was a Senior Vice President at GENKAI Capital Management--a  Japanese Asset and Fund Management Firm where he was investing throughout the capital stack in commercial real estate in Japan, South Asia and the US.

Shai Started his real estate career at a New York Investment Bank where he was involved in, well over, 12$US Billion in CRE debt and equity transactions.

Upon returning to Japan, Shai joined a global advisory firm where he pursued tenant representation, land acquisitions, equity raise, portfolio management and investment sales opportunities.

In addition, Shai is an adjunct professor at Temple University and previously at New York University.

Shai is PhD candidate at Tokyo City University and holds a master’s degree in real estate finance & Investment from New York University and a BA in Management & East Asian Studies (graduated Magna Cum Laude) from Tel Aviv University.

Shai is a New York licensed real estate salesperson (inactive).