Pramerica Real Estate Investors has announced that it has acquired Round Hill Capital Partners Kabushiki Kaisha, giving the company a presence in Japan as Prudential Real Estate Investors (Japan) K.K. (PREI Japan). Pramerica, which already operates in Singapore, is the real estate investment management and advisory business of Prudential Financial, Inc. (NYSE: PRU).
Pramerica, headquartered in Parsippany, N.J., in the United States, has operated in Asia since 1994, conducting business from its Singapore office as Pramerica Real Estate Investors (Asia). The company has invested on behalf of clients throughout the region in Singapore, Hong Kong, Japan, Malaysia, the Philippines, Indonesia, South Korea, China, Thailand and India.
Round Hill, established in 2001 as a real estate asset management firm in Japan, has provided exclusive asset management services to Pramerica since 2003. Notably, Round Hill has already arranged 19 investments totaling $1.5 billion for Pramerica's pan-Asian and retail strategies in Japan.
"As real estate markets and investor allocations have become significantly more global, Asia has become a more important part of PREI's global growth strategy," said Victoria Shigehira Sharpe, CEO of Pramerica Real Estate Investors-Asia. "We are delighted to welcome Round Hill to our team as our activity within Japan and Northern Asia continues to grow. Having such seasoned professionals already in Japan gives our clients access to best-in-class real estate management."
Pramerica's expansion into Japan continues to build the company's presence in the region as it joins its life insurance business, which is celebrating its 20th anniversary this year. The company's presence in Japan also includes The Gibraltar Life Insurance Company, Ltd. and Pricoa Relocation Asia Pte. Ltd. The company also operates an asset management business in Japan.
The new venture in Japan follows the September opening of PREI's office in Hong Kong in September, which will source transactions in China, Hong Kong, Taiwan and South Korea.