Global investment manager Nuveen Real Estate has appointed a new head of Japan real estate.
Shusaku Watanabe has taken the role, relocating from Singapore where he was previously director of Asia-Pacific capital markets.
He will lead the expansion of Nuveen’s portfolio of Japanese assets, in addition to serving as fund manager for the Tokyo Multifamily Partnership launched in 2018.
Nick Evans, Nuveen’s head of Asia-Pacific real estate said Japan is a key market for the company, with “strong growth potential”.
Mr Watanabe is reported to have more than 20 years of experience in the asset management industry. He was responsible for driving the firm’s acquisition program in Asia when he first joined in 2016 and completed Nuveen’s debut investment in Japan with the purchase of a commercial building in Tokyo’s Ginza district.
Since then, Mr Watanabe has led a number of acquisitions across the country, bringing Nuveen’s total assets under management across Japan to around US$1.2 billion, spanning multifamily, logistics and commercial assets.
“Our real estate investment in Japan has grown over the last four years at a steady pace of about US$300 million per annum, building up a resilient portfolio,” Mr Watanabe commented.
“Going forward, we plan to maintain our growth rate by formulating investment theses and identifying opportunities beyond current market cycles, while being cognisant of the dynamic capital market conditions and accelerating changes in lifestyle.”
Nuveen opened its Japanese office in Tokyo in 2018. It currently offers real estate capabilities and advisory services.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
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