Leading Partners: Gaiben

Real estate and construction: Independent local firms in Japan

Anderson Mori & Tomotsune

Anderson Mori & Tomotsune's team advises a broad spectrum of clients, including investors, developers, asset managers, sovereign wealth funds and global institutions, across a variety of areas including real estate finance, M&A and structured development projects. Minoru Kobayashi is particularly well-regarded for his expertise in complex real estate finance, real estate funds and J-REIT transactions, especially in connection with global J-REIT offerings. Tetsuya Itoh has experience in real estate acquisitions. Ken Kobayashi regularly acts for a diverse group of lenders on non-recourse loans, encompassing real estate M&A financings and intricate acquisition loans through TK-TMK structures. Another key contact is Hikaru Naganuma who is recognised for his broad corporate practice and harnesses particular strengths in real estate and receivables securitisation, project finance, syndicated loans, M&A and real estate transactions.

Weitere Kernanwälte:

Minoru Kobayashi; Tetsuya Itoh; Ken Kobayashi; Hikaru Naganuma; Naoyuki Kabata; Ryosuke Otoguro


Referenzen

‚Their response is fast and the level of deliverables is high. they also provide appropriate advice based on a deep understanding of business needs.’

‘Ken Kobayashi always provides accurate and appropriate advice based on his in-depth knowledge and extensive experience. He is approachable and his responses provided promptly. He has a strong sense of responsibility and provides very practical advice.’

‘Their legal guidance is consistently delivered in a timely manner. Even when urgent matters arise, staffing is handled reliably, leaving no cause for concern. Their advice is grounded in deep knowledge and experience, which ensures that we are never placed at a disadvantage in negotiations with counterparties—a quality that is highly valued by our business side colleagues. ’

Kernmandanten

Nomura Securities


Japan Metropolitan Fund Investment Corporation


Nippon Prologis REIT, Inc.


Hoshino Resorts REIT, Inc.


Nippon REIT Investment Corporation


KDX Realty Investment Corporation


Frontier Real Estate Investment Corporation


Japan Logistics Fund, Inc.


Hankyu Hanshin REIT, Inc.


Renewable Japan Energy Infrastructure Fund, Inc.


Highlight-Mandate


  • Advised the client on the acquisition of 32 logistics properties by Industrial & Infrastructure Fund Investment Corporation (IIF), a J-REIT managed by KJRM, and a private fund it arranged.
  • Advised the client on its landmark $328m acquisition (approximately JPY 51.1 billion) of real estate in Seattle—the first-ever U.S. property investment by a listed Japanese REIT.
  • Advised the client on a series of major data centre development projects across Japan, serving as lead counsel on land acquisitions and joint venture structuring.

Mori Hamada

Mori Hamada‘s team handles a wide spectrum of matters, from traditional acquisition and leasing deals, to more complex fund structures utilising special purpose vehicles, trusts and investment schemes targeting overseas real estate. The team’s core strengths include fund formation, property acquisitions, real estate development, leasing, divestment and real estate finance. Eriko Ozawa leads the practice and is noted for her proactive approach in steering intricate and high-stakes domestic real estate transactions through all stages, from structuring to completion. Satoru Hasumoto, who counts pension funds and multinational corporations among his clients, specialises in real estate and construction matters. Masahito Saeki offers a niche expertise in J-REITs and infrastructure funds, while Sonoko Amano stands out for her transactional, regulatory and compliance capabilities.

Praxisleiter:

Eriko Ozawa


Weitere Kernanwälte:

Masahito Saeki; Satoru Hasumoto; Sonoko Amano


Kernmandanten

Sumitomo Mitsui Trust Bank, Limited


Mizuho Securities Co., Ltd. and Mizuho Bank, Ltd.


Diamond Realty Management Inc.


Mitsubishi Corporation Urban Development, Inc.


Kohlberg Kravis Roberts & Co. L.P.


Goldman Sachs Asset Management Co., Ltd.


CBRE K.K.


Google Inc.


Government Pension Investment Fund


Daiwa House Industry Co., Ltd.


Kasumigaseki Capital Co., Ltd.


Highlight-Mandate


  • Advised CBRE on the launch of the “US Industrial Venture” investment program to provide Japanese partners with opportunities to invest in U.S. logistics facilities.
  • Advised the business consortium composed of Mitsubishi Corporation Urban Development Co., Ltd., Anschutz Entertainment Group, Inc., and Kanden Realty & Development Co., Ltd. on the Osaka Expo Park Area Revitalization Project.
  • Acted as lead counsel for the client in a complex joint venture with ESR to develop a data centre campus in Osaka, Japan.

Nagashima Ohno & Tsunematsu

Nagashima Ohno & Tsunematsu‘s practice has a strong focus on both domestic and cross-border matters, particularly J-REIT transactions, M&A, and inbound and outbound investments. The team frequently advises offshore investors entering the Japanese property market, and vice versa. Team lead Kenji Utsumi has expertise across listed and unlisted REITs, transactions involving real estate developments and private fund investments. Mami Ikebukuro has expertise regarding accounting, tax and cash flow considerations. Hiroto Inoue is well-regarded for his role in high-profile real estate deals, while Makoto Saito regularly advises investment funds on both real estate and M&A matters. Shunpei Tanaka is recognised for his experience in large-scale development and complex restructuring projects. Shinichiro Horaguchi brings significant experience in real estate transactions, while Yoshinobu Koyama‘s expertise covers a broad spectrum of asset classes.

Praxisleiter:

Kenji Utsumi


Weitere Kernanwälte:

Mami Ikebukuro; Hiroto Inoue; Shunpei Tanaka; Shinichiro Horaguchi; Yoshinobu Koyama; Makoto Saito


Referenzen

‘They are more committed to the development of the real estate industry than other law firms.’

‘Kenji Utsumi supports the development of the real estate industry. He not only provides legally qualified advice, but also makes proposals for the development of the industry.’

‚Mami Ikebukuro is one of, if not the leading, hotel lawyer in Japan. She understands hotel management agreements. She is also a fearless negotiator. She will doggedly pursue a point until she either wins it or her client’s decision maker decides to concede the point. She is also good at identifying reasonable compromises.‘

Kernmandanten

Mitsui Fudosan Co., Ltd.


MITSUBISHI ESTATE CO., LTD.


Tokyu Land Corporation


Sumitomo Realty & Development Co., Ltd.


Nomura Real Estate Development Co., Ltd.


Mitsubishi Corporation


Hulic Co., Ltd.


ORIX CORPORATION


AEON Co., Ltd.


NTT Urban Development


Marubeni Corporation


KAJIMA CORPORATION


SHIMIZU CORPORATION


SUMITOMO CORPORATION


ESR Cayman Limited


Gaw Capital Partners


Hilton International


PGIM Real Estate


Norges Bank Real Estate Management


TOKYU CORPORATION


Accor S.A.


Allianz Real Estate GmbH


Challenger Kabushiki Kaisha


Japan Excellent, Inc.


Kenedix, Inc.


Kokyo Asset Management Co., Ltd.


Marriott International, Inc.


MUFG Bank, Ltd.


Mitsubishi UFJ Trust and Banking Corporation


Sumitomo Mitsui Trust Bank, Limited


Mizuho Bank, Ltd.


Mizuho Trust & Banking Co., Ltd.


Highlight-Mandate


  • Advised the client on the multi-billion dollar financing for Osaka IR K.K., its joint venture with Orix Corporation established for the development and operation of Japan’s first Integrated Resort in Osaka.
  • Advised Mitsui Fudosan Logistics Park Inc., supported by Mitsui Fudosan, and Advance Logistics Investment Corporation, supported by Itochu Group, on their merger, creating the double sponsorship of a logistics REIT in Japan.
  • Advised the client on its 400bn yen sale of Tokyo Garden Terrace Kioicho to Blackstone.

Nishimura & Asahi

Nishimura & Asahi‘s team offers expertise across a wide range of matters, including those relating to acquisitions and disposals, investments, leasing issues, property management, as well as construction contracts and related disputes. Shintaro Uno heads the construction practice and is highly regarded for his focus on international engineering and infrastructure projects, with particular strengths handling matters in Japan and across Asia. Yoshihiko Kawakami leads the real estate team and advises on a broad array of real estate transactions and financing matters, as well as investment structures involving J-REITs and private real estate funds. Norio Maeda frequently acts for foreign investors engaging in Japanese real estate through structured deals, while Hiroshi Niinomi advises a diverse client base of developers, builders, lenders, asset managers, private REITs and J-REITs on real estate transactions within Japan.

Praxisleiter:

Yoshihiko Kawakami; Shintaro Uno


Weitere Kernanwälte:

Norio Maeda; Hiroshi Niinomi


Kernmandanten

Sumitomo Mitsui Banking Corporation


Mizuho Trust & Banking Co., Ltd.


Takenaka Corporation


Mizuho Bank, Ltd.


Tokyu Land Corporation


Kajima Corporation


Taisei Corporation


Mitsubishi UFJ Trust and Banking Corporation


ORIX Corporation


Toshiba Plant Systems & Services Corporation


Mitsui & Co. Asset Management Holdings Ltd.


Obayashi Corporation


Mori Trust Co., Ltd.


Tokyo Tatemono Investment Advisors Co., Ltd.


Shimizu Corporation


Penta-Ocean Construction Co., Ltd.


Kajima Real Estate Investment Advisors Inc.


Nippon Koei


Toyo Construction Co., Ltd.


The Blackstone Group Japan K.K.


SMFL MIRAI Partners Company, Limited


Highlight-Mandate


  • Advised Blackstone on its acquisition of Tokyo Garden Terrace Kioicho from Seibu Holdings.
  • Advised a listed Hong Kong-based company that owns a number of hotels in Japan on its acquisition of Awashima Hotel, a luxurious resort hotel on Awashima Island in Suruga Bay, and related assets.

TMI Associates

TMI Associates‘ practice is involved in a wide variety of both domestic and cross-border real estate transactions, covering areas such as the sale and leasing of real estate, securitisation of property interests, and project and construction-related financings, as well as other structured finance matters. The team’s workload includes negotiating sale and lease agreements, advising on legal compliance, regulations and administrative guidelines for the acquisition, ownership, and operation of real estate. The practice is led by Yoshiyasu Yamaguchi who specialises in real estate investment, building and construction disputes, and inheritance division negotiations. Haruo Narimoto is another key contact, known for his expertise in real estate investment, development and project finance.

Praxisleiter:

Yoshiyasu Yamaguchi


Weitere Kernanwälte:

Haruo Narimoto; Hideaki Kurauchi; Seiji Kurihara


Referenzen

‘TMI not only understand real estate but also hotel management and franchise agreements, and technical services agreements also. They are very knowledgeable in the businesses associated with the real estate transaction also.’

‘Hideaki Kurauchi is very unique as he approaches things from a business person’s point of view and is very pragmatic in his recommendations to us.’

‘In matters related to labour issues, they provide advice not only from a legal perspective as attorneys, but also on practical handling at the operational level, beyond the scope of legal regulations, that HR managers often face in companies. This kind of support in dealing with ambiguous and sensitive areas, which are often difficult to navigate, has been extremely helpful.’

Kernmandanten

Sumitomo Mitsui Banking Corporation


Mitsubishi UFJ Trust and Banking Corporation


Sumitomo Mitsui Trust Bank, Limited


SMBC Trust Bank Ltd.


LaSalle Investment Management


ORIX Corporation


Aozora Bank Ltd.


Kenedix Investment Partners, Inc.


Mizuho Trust & Banking Co,Ltd.


Suruga bank Ltd.


Highlight-Mandate


  • Advised the client on the redevelopment project at the Former Tsukiji Market Site in Tokyo.
  • Advised Mitsubishi UFJ Trust and Banking Corporation on the structuring of a scheme, drafting of various agreements, preparation of securities filings and other legal support in connection with the issuance of security tokens backed by real estate (a large apartment in Tokyo).

Ushijima & Partners

Ushijima & Partners’ team is highly active in the areas of real estate securitisation and transactional work, acting for a wide range of clients including developers, asset managers, banks, trust banks, insurance companies, J-REITs and investment firms. Kohtaro Tamura leads the practice and brings expertise across corporate disputes, real estate, finance and securitisation, as well as regulatory and fintech matters. Nao Makita regularly handles matters related to real estate transactions, development, securitisation, and investment and financing across various asset types. Masahiro Shiotani is noted for advising on real estate transactions, with particular expertise in drafting and negotiating complex agreements. Hiroki Awahara is also a name to note.

Praxisleiter:

Kohtaro Tamura


Weitere Kernanwälte:

Nao Makita; Hiroki Awahara; Masahiro Shiotani


Referenzen

‘They always provide us with the information required in a timely manner. I believe all members at Ushijima & Partners are always attentive to clients‘ requests.’

‘They have excellent communication skills, but also the advice and feedback they provide is always accurate.’

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Atsumi & Sakai

Atsumi & Sakai's team advises on infrastructure and plant construction, official developments and PPP projects, both domestically and internationally. Its expertise includes FS business support, as well as the drafting and negotiation of construction-related agreements, EPC contracts, joint venture agreements and shareholder agreements. The team is jointly led by Miho Niunoya, Shuji Koyama and Rie Kishida. Niunoya handles the contentious and non-contentious, Koyama advises on acquisitions of various asset types, and Kishida has construction and infrastructure expertise. Also at the helm are Russell Kawahara, Mayumi Hongo and Jun Oishi.

Praxisleiter:

Miho Niunoya; Shuji Koyama; Rie Kishida; Mayumi Hongo; Russell Kawahara; Jun Oishi


Weitere Kernanwälte:

Takafumi Uematsu


Referenzen

‘They demonstrate appropriate business management and handle tight-schedule projects smoothly without delays.’

‘Not only the partners but all members, including associates, perform their duties carefully and promptly. They provide the appropriate advice we need, and the quality of their deliverables is high.‘

‚They possess extensive knowledge and experience in real estate-related work, making them a trustworthy business partner. ’

Kernmandanten

Mitsubishi Research Institute, Inc. (MRI)


The Japan Research Institute, Limited (JRI)


Mitsubishi UFJ Research and Consulting Co., Ltd.


EY Strategy and Consulting Co., Ltd.


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City-Yuwa Partners

City-Yuwa Partners‘ team advises a mix of major domestic real estate companies and foreign investors on a broad range of matters, including drafting and reviewing agreements for government-funded bodies, advising consulting engineering firms and general contractors on bidding procedures and regulations, and handling EPC contractor disputes. IPO, PPP, PFI and concession projects are also areas of expertise across the team. It is jointly led by Yoshiko Koizumi, Junko Hirakawa and Shigeaki Itoh; Koizumi is noted for her expertise in contract negotiations, dispute prevention and resolution in cross-border transactions. Masamichi Sakamoto advises various clients on real estate investment transactions.

Praxisleiter:

Shigeaki Itoh; Junko Hirakawa; Yoshiko Koizumi


Weitere Kernanwälte:

Masamichi Sakamoto; Daigo Nomura; Kenta Ikebe; Masumi Watanabe; Kentaro Sawata


Referenzen

‘City-Yuwa Partners has demonstrated their high proficiency of legal solutions to the complex and sophisticated matters, by offering us clear, coherent and comprehensive advice and counsel, based on various legal viewpoints accumulated overtimes, while taking our bank’s unique stance to each financing transaction as the foreign bank well into consideration, while ensuring compliance with local regulatory requirements.

‘Specific stand-out partners are Masamichi Sakamoto, Kenta Ikebe, Masumi Watanabe and Kentaro Sawata.‘

‚City-Yuwa has effectively advised us on the interpretation of a wide range of laws and regulations, government ordinances, and ordinances directly or indirectly related to our transactions.

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Iwata Godo

Iwata Godo’s practice includes advising on real estate transactions, property development, financing, and property-related disputes, serving both domestic and international clients. The team is jointly led by Kenichi Okushi, Kensuke Kashiwagi, and Takao Matsuda. Okushi is experienced in complex documentation aspects of investment transactions. Kashiwagi provides guidance on the sale, purchase and leasing of properties, contract preparation, tenant and customer relations, and regulatory and compliance matters. Matsuda advises real estate developers and financial institutions on a range of domestic cases.

Praxisleiter:

Kenichi Okushi; Kensuke Kashiwagi; Takao Matsuda


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Kaynex Law Offices

Kaynex Law Offices' offering advises its portfolio of clients on the formation of joint ventures for real estate investments, on the drafting and negotiation of PPAs, and on the handling of day-to-day legal matters related to property leasing and management, as well as on licensing requirement issues. Eiichi Nagai leads the team and handles all aspects of real estate transactions, including straightforward acquisitions, TK-GK and TMK structures, J-REIT matters, and real estate securitisation involving CMBS and RMBS.

Praxisleiter:

Eiichi Nagai


Referenzen

‘Exquisite balance between speed, quality of legal advice and billing. Often pre-empts and goes the extra mile to propose alternative approaches that are outside the client’s mental framework.‘

‘Eiichi Nagai has extraordinary client relationship management skills, team management capabilities, and has offered honed-to-the-hilt legal advice over the many years we have been in partnership.‘

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Tsubame Law Offices

Tsubame Law Offices advises on the full spectrum of real estate matters, including structuring, investment, acquisition, development, construction, financing, asset and property management, and disposals. The team is jointly led by Yasuko Tsuchihashi, Atsuko Kissho, Takumi Fukuda, and Yasuhiro Shimada, all of whom have significant experience in real estate fund matters. They regularly act for banks, asset managers, and institutional investors, providing guidance on financial regulatory issues related to real estate investments.

Praxisleiter:

Yasuko Tsuchihashi; Atsuko Kissho; Takumi Fukuda; Yasuhiro Shimada


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