Company Profile

Japan Real Estate Expertise. International Capital. Local Execution.

Firm Capabilities

Delivering For Global Capital With Local Precision And Proven Track Record.

Terrafort combines a deep presence in Japan with trusted local relationships and expertise across residential, office, retail and hospitality real estate.

Deep Japan Presence

12+ years of active presence in Japan real estate. Over ¥135 billion deployed across Japan real estate. 70+ local professionals driving investment, execution and asset management.

Sourcing Capability

Trusted relationships with Japan’s leading developers, construction firms, financial institutions and corporate partners, built over 12+ years. Banking relationships support competitive financing terms, appropriate leverage structures and flexible covenants.

Execution Track Record

Residential, office, retail and hotel expertise spans design drawings and permit applications through construction supervision, final inspection and handover. A multilingual team supports rigorous due diligence and execution across counterparties.

On-The-Ground Asset Management

Value-add repositioning through targeted refurbishment and upgrades drives rental uplifts. Structuring advisory covers capital injection, acquisition financing, refinancing, exit execution and reinvestment strategies.

Investment Execution

From Acquisition To Exit

Terrafort’s Investment Lifecycle

Transaction experience and on-the-ground delivery throughout the investment lifecycle.

Source

Local networks and off-market opportunities

Structure

Capital injection and acquisition financing

Develop

Design, permits and construction supervision

Enhance

Refurbishment, upgrades and asset management

Realise

Refinancing, exit execution and reinvestment

Stage 1 of 5

Investment Strategy

Japan Hospitality Investment Strategy

The following hospitality strategy illustrates Terrafort’s approach in Japan.

Mid-Sized Hotels In Established Urban Markets

Business, city and apartment hotels. Core assets and value-add opportunities through rebranding, repositioning and operational improvement.

Target Markets

Tokyo

Minato · Chuo · Shibuya Chiyoda · Shinjuku

Secondary Tokyo Markets

Taito · Sumida

Osaka / Fukuoka

Chuo Ward

Sourcing & Exit Strategy

Proprietary Sourcing. Flexible Exits.

The fund combines local access to hotel opportunities with portfolio sales or individual asset disposals during the fund life.

Proprietary Sourcing

01
Decades-Long Local Network And Relationships
Close working relationships in Japan with developers, contractors, design firms, banks and other stakeholders.
02
Operator Relationships
Long-standing ties with local and international hotel brands, developed through collaboration on hotel projects.
03
Off-Market Deals
Hands-on hotel project management earns local stakeholders’ trust, supporting early access to off-market opportunities.

Exit Strategy

Portfolio Sale

Hotel assets sold as a bundled portfolio.

Individual Asset Sale

Assets can also be sold individually during the fund life when there is demand.

Potential Buyers

Institutions, multi-family offices, domestic and overseas investors, and high-net-worth individuals.

Execution And Experience

Combined Track Record

The Tokyo-based team brings over two decades of on-the-ground transaction experience.

Transactions: ¥200bn+
Total Investment: ¥184bn+
Assets Under Management / 2026: ¥78bn+
Assets Acquired / Exited: 234 / 158

Experience Across Japan

Tokyo · Osaka · Fukuoka

Additional Markets: Chiba · Hiroshima · Kita-Kyushu · Kobe · Kumamoto · Nagoya · Okinawa · Sendai · Yokohama

Leadership

Naruki Fujiwara, Anita

Co-Founding Partner

Terrafort Asia Capital

Anita is a senior real estate executive with over 20 years of global transactional expertise across Japan, Greater China, and Dubai, with a primary focus on the hospitality sector. She has led the development, operation, value-add, and sale of projects worth over 120 billion yen, including nearly a decade on JLL Tokyo's Capital Markets team. Her edge lies in a deep, trust-based network of institutions, global investors, and UHNWIs, paired with direct access to Japan's full lending ecosystem and expertise in tax-efficient, legally robust cross-border investment structures.

Anita is a Qualified Real Estate Broker in Japan, and possesses MRICS, PMP, MSc from University of Bristol in UK. She manages cross-border real estate transactions and overseas investors’ investments in Japan and other major business work.

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