Asia Pacific Land (APL), a Hong Kong-headquartered real estate investment, development and asset management firm, has made a foray into the US market with the appointment of William Scully to lead its operations in the country.
Scully has been brought on board as managing director for US investments. Based in New York, Scully will lead the firm’s efforts to source and execute investments in select real estate markets across the country.
PERE understands that Scully is the first person to have been hired for APL's US investment operations.
A veteran in the industry, Scully has more than 30 years of experience in real estate investment, development and asset management in both the US and Asia. Previously, Scully was managing director at Cerberus Capital Management, the New York-based private equity firm where he spent around five years. He has also worked as partner at Apollo Real Estate Advisors for almost eight years.
Founded in 1994, APL’s operations have focused on investing its own capital as well as raising capital from investors primarily for investments within Asia.
In 2013, the firm led a consortium of investors to acquire the Shiba Park Building, a landmark office asset in Tokyo, reportedly for ?110 billion (€880 million; $973 million). At the time, the deal was marked as one of the largest single asset transactions in Japan since the 2008 financial crises. The consortium included Abu Dhabi Investment Council, US foundation CV Starr and Tokyo-based private equity real estate firm Secured Capital (now known as PAG Real Estate).
In Asia, the firm has offices in Tokyo, Hong Kong, Shanghai and Taipei.