Douglas Smith, a veteran in the Japanese real estate market with over 22 years of experience, has been appointed by global real estate services firm Colliers International as head of investment services for Japan, PERE can reveal.
News of the appointment comes after Smith, in September last year, announced his departure from the New York-based investment private equity firm Fortress Investment Group after a four-year period working in its Japan real estate team. At Fortress, Smith was a managing director responsible for the asset management of the properties held by the firm’s two opportunity funds focused on investments in the country.
On his appointment, Smith said: “It is a great pleasure to join Colliers International Japan, one of the first foreign capital companies to qualify for a Japanese real estate license and the premier international real estate consultant in Japan offering a full range of services. Building on the tremendous experience and relationship of the firm, we are all well positioned to offer a compelling package of services to investment clients.”
At Colliers, he will be leading a team of ten people as he works to “connect capital with opportunities, right from assisting investors interesting in coming to Japan, assisting Japanese companies and high-net-worth investors in outward bound capital to assist funds trying to exit assets,” Smith told PERE.
In the past, Smith has also held senior positions at Deutsche Bank, Shinsei Bank and Nomura Real Estate.
“Japan is in a very exciting part of the real estate investment cycle and is being bolstered by a confluence of positive factors including a weaker yen. Abenomics, increased international capital flows and the upcoming Olympics. Japan, especially Tokyo, with its breadth and depth of tenants, investors and lenders as well as competitive yields and positive leverage is without question one of the best investment markets globally,” said Jim Fink, senior managing director for Colliers International.