Past Conferences

ULI Global Real Estate Conference

Japan Summer Conference

July 13, 2006
Marunouchi Building
Tokyo, Japan

Press Releases

Best of the Best: ULI Announces Five Winners of the 2006 Awards for Excellence: Asia Pacific Competition

Five outstanding developments have been selected as winners of the Urban Land Institute's (ULI) Awards for Excellence: Asia Pacific competition. The Awards for Excellence are widely recognized as the land use industry’s most prestigious recognition program. [read more]

Conference Overview

The opening years of the 21^st Century have seen the maturation of real estate as an investment asset class. Securitization and financial engineering has resulted in increased transparency, reduced volatility, and lower risk profiles.

The portfolio asset allocation to real estate continues to change, resulting from the alignment of the planets: historically low interest rates; the flood of retirement income looking for strong secure income streams but with some capital growth upside; record world urbanization and metropolitan growth: and, the need to top up pension and mutual fund returns with offshore exposure due to lower yields in the USA and other mature western real estate markets.

What are the prospects for this unprecedented globalization of the real estate industry? Why get the answers second hand when ULI Japan brings you the real estate leaders who are the helm of today’s Global Real Estate market?

Who Should Attend

Developers, investors, lenders, real estate market and business consultants, architects, design and construction professionals, and others interested in real estate development and investment in Japan.

Master of Ceremonies

Steve Bass, Representative Director and Chief Executive Officer, Macquarie Properties Japan

Bass heads Macquarie Properties Japan. He has eight years of experience in the Japanese real estate market and has participated in the acquisition of over USD one billion in Japanese assets, from individual properties to complex portfolios and corporate acquisitions. Prior to joining Macquarie, Bass managed real estate acquisitions for GMAC Investment Advisors Japan and was director of Japan acquisitions at CB Richard Ellis Investors. Bass began his career working as an analyst of urban planning and redevelopment programsfor the public sector in Los Angeles, California, USA.

Keynote Speakers

Sonny Kalsi, Global Head, Morgan Stanley Real Estate Investing

K.S. (Sonny) Kalsi is a managing director of Morgan Stanley, global head of Morgan Stanley Real Estate Investing Business, and head of Morgan Stanley’s Asian Real Estate Practice.  He is also a member of Morgan Stanley’s Asia Operating Committee and the Global Real Estate Investment Committee. In Asia, he oversees over 250 real estate professionals in Japan, South Korea, China, Hong Kong and Australia.  The focus of the business includes investing in real estate assets, companies and loans, real estate merchant banking and real estate investment banking.  Kalsi has been with the firm since 1991 and based in Asia since 1997.  He is the vice chair-at-large and a council member of the Urban Land Institute in Japan.  He is an active member of the expatriate community in Tokyo, including the American Chamber of Commerce and the Montessori School of Tokyo.  He is also an active participant in Morgan Stanley Inspire, the Firm’s philanthropic organization. 

James Quille, Chairman and Chief Executive Officer, MacquarieGlobal Property Advisors

Quille has over 30 years experience in the real estate sector spanning the U.S., Europe, Asia, South America, and Australia.  He has an engineering background and has been directly involved in real estate funds management for the last 15 years working in both the listed sector and private equity.  Quille founded Macquarie Global Property Advisors in 2004 following an MBO of the Global Property fund unit which he ran within Lend Lease and subsequently formed a joint venture with Macquarie Bank.  He was responsible for the establishment of The Asia Pacific Investment Company (one of the first pan Asian real estate funds) in 1992 and the Macquarie Global Property Advisors (MGPA) Global Fund in 1999.  As chief executive officer, Quille has been involved in the performance of that platform as well as the establishment of MGPA’s other products including the second global fund, Japanfund, and European fund as well as investment partnerships in both Asia and Europe.

Speakers

Robert Alan Feldman
Chief Economist and Co-Director of Japan Research
Morgan Stanley Japan Securities Co., Ltd.

Ken Fridley
Vice Chairman
New City Corporation

Christopher Handte
Deputy General Manager
Structured Products/Real Estate Finance
Shinsei Bank

Yuichi Hiromoto
Executive Officer
Japan Retail Fund
and
President & Chief Executive Officer
Mitsubishi Corp UBS Realty

Hiroo Mori
Senior Managing Director
MoriBuilding

Jason Chew
Country Director
CapitaLand

Thomas Liu
Executive Director
CDIB Capital Limited

Tetsuo Matsumoto
Vice President
ORIX Real Estate

Yasuyuki Otsu
Executive Officer
Principal Investment Division, Financial Solutions Division, Corporate Advisory Division I & II, IB Solutions Division
and
General Manager Real Estate Investment Banking Division
Mitsubishi UFJ Securities Company, Ltd.

Yuji Shimanaka
Chief Economist, General Manager, Investment Research Department
Mitsubishi UFJ Research and Consulting

Paul Sheard
Global Chief Economist
Lehman Brothers

Chihiro Shimizu
Associate Professor
The International School of Economics and Business Administration
ReitakuUniversity

Jon Paul Toppino
Representative Director and Chief Investment Officer
Secured Capital Japan

Takashi Uematsu
Executive Managing Director
Nomura Real Estate

Kazuhiko Yamamoto
Vice President
MoriBuilding

Program

09:15 - 09:30
Greetings

09:30   - 10:30
Opening Keynote Session:  Globalisation of Real Estate Investment

Featuring

James Quille, Chairman & Chief Executive Officer, Macquarie Global Property Advisors

Real estate investors and investor managers in the 20th Century were predominantly focused on their local markets—no longer. As investors continue to increase allocations to real estate, and look for alternative investment styles, they are being drawn to new investment vehicles and new real estate markets in which to invest their capital.

This has led to an increase in transactions involving cross border capital, resulting in greater geographical diversification within investor portfolios, reduced dependence on a single market, and the emergence of new real estate vehicles to facilitate the investment of these growing capital flows.

James Quille, chairman and chief executive officer of Macquarie Global Property Advisors, which manages five real estate funds investing in Asia and Europe, will discuss the reasons for this increase in cross border investment, where it is likely to lead and illustrate that while there has been a beginning of globalisation of the real estate capital markets, different levels of transparency and differing regulatory frameworks in each market mean that the business of investing in real estate remains local.   He will also discuss the role the investment management industry must play in the sustainable development of the globalisation of the real estate investment sector as part of a balanced portfolio.

10:40 - 12:10 
Plenary Session
The Rapid Globalization of Development

The recent globalization of real estate investment hasn’t been limited to just the acquisition of real estate in multiple countries. Today developers—traditionally recognized as a local industry—are unveiling development projects in many diverse countries.  Why go through this hassle? Is success guaranteed? What lessons have been learned? Four leading developers will give you the benefit of their experience.

12.10 – 13.15
Luncheon

13:15-14:15
Keynote Session:  What’s New with REITs?

Featuring

Sonny Kalsi, Global Head of Morgan Stanley Real Estate Investing, Morgan Stanley

Real estate funds are merging. Those without global reach are being left behind. In Australia, for example, we see REITs merging at breakneck speed. It’s not just the weight of retirement and other investment income to be invested nor the fact that there is just not enough domestic AAA rated real estate product but   rather it’s the real market imperative to achieve two specific economies of scale—a balanced mix of real estate asset types in the portfolio and a geographic diversification in the portfolio to guarantee performance and hedge risk. It’s a global trend. Hear what equity and debt real estate instruments hold for the future growth and prosperity of the global real estate capital markets from one of World’s largest investors.

14:15-15:45
Plenary Session
The Diversification of Portfolio Expansion Strategies: A Presentation and Analysis of Diverse Approaches to Expanding Real Estate Portfolios

The last year has seen the real estate market take off in Japan.  With this new buoyancy has come a decline in cap rates and a need for new strategies among both domestic and foreign investors.  What are these investors doing to capitalize upon and manage these opportunities? Hear directly from the leaders and senior advisors to the REITs, private funds, and securities firms. What are the keys to success in today’s global real estate market?

16:00 - 17:45
Plenary Session
Beginning, Middle or End of a Growth Cycle:  Top Economists Take an In-depth Look at Real Estate Today and in the Future

ULI Japanis honored to have four leading and respected economists share their views on the economy today and in the future both on the macro level and how it pertains to the real estate market.  Their divergent views are sure to provoke thought and will provide added incentive for the audience to conduct its own research and determine future trends.

17.45 – 18.00
Concluding Remarks

18.00
Confere4nce Ends

18.00 – 19.30
Networking Reception