New York, NY – February 11, 2014 – Mitsui Fudosan America, Inc. (MFA), the U.S. operations of Japan’s largest real estate company, announced today that it has opened an office in San Francisco, CA. The office expands MFA’s presence in the U.S. as it continues to make acquisitions in key markets and pursue development projects. The opening of the new San Francisco office underlines MFA’s interest in increasing its activities in the west coast’s gateway cities, notably Los Angeles, San Francisco and Seattle.
“The major U.S. west coast cities have always been important to us and a focus for our long-term expansion plans here,” said Yukio Yoshida, President and CEO of MFA, based in the company’s U.S. headquarters in New York. “Having our executives on the ground in San Francisco will not only enrich our relationships with existing business partners in the city and the region but also enable us to pursue important new opportunities.”
The San Francisco branch manager will be Kenji Yamamoto, who will report directly to Yukio Yoshida, President and CEO of MFA. Jeff Menard, Director of Acquisitions, will also be based in MFA’s San Francisco office.
The opening of the San Francisco office follows MFA’s recent announcement of its acquisition of 270 Brannan Street in SoMa’s historic South Beach neighbourhood there. MFA has a long history of investments in San Francisco dating back to the development of 505 Montgomery Street in 1988 and the Clock Tower project, located on 2nd Street, in 1992. In 2007 MFA acquired 180 Montgomery Street a 303,000 square foot office building in the North Financial District.
MFA's other existing properties in California are both in Los Angeles: 8th Street & Figueroa, and 8th, Grand & Hope Streets. Mitsui Fudosan Group is undergoing a global expansion under its “Innovation 2017” plan that aims to diversity the company’s nearly $45 billion portfolio by increasing the allocation of international holdings relative to the company’s domestic holdings in Japan.
The San Francisco presence will begin in a temporary office located at 71 Stevenson Street. MFA’s permanent office will be located at 100 First Street in San Francisco and plans to be open by March, 2014.
About Mitsui Fudosan America
Mitsui Fudosan America, Inc. (MFA) is a real estate investment and development company headquartered in New York, NY. MFA is the U.S. subsidiary of Mitsui Fudosan Co., Ltd. Japan’s largest publicly quoted real estate company. MFA’s history in the U.S. markets dates back to the early 1970’s and includes its acquisition and redevelopment of the renowned Halekulani Hotel in Waikiki, Hawaii, with additional investments in San Francisco, Los Angeles, San Diego, Washington, D.C., Chicago and New York. MFA’s flagship commercial property is located in Rockefeller Center at 1251 Avenue of the Americas in New York, one of the city’s most prestigious business addresses.