Mitsui Setting Up Office in San Francisco

SAN FRANCISCO-Mitsui Fudosan America, Inc., the U.S. operations of Japan's largest real estate company, has expanded its U.S. presence by opening an office in San Francisco while continuing to make acquisitions in key markets and pursue development projects.

Mitsui says the opening of the new San Francisco office demonstrates its 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."

Kenji Yamamoto will serve as San Francisco branch manager, reporting directly to Yoshida. 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 diversify 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.