Daiwa real Estate Asset Management

What Daiwa real Estate Asset Management does

Daiwa Real Estate Asset Management Co., Ltd. (大和リアル・エステート・アセット・マネジメント株式会社) is a Tokyo-based, licensed asset management firm founded in October 2004 that operates as a wholly-owned subsidiary of Daiwa Securities Group Inc. (100% owned since July 2009). The firm manages a multi-vehicle real estate and infrastructure investment platform comprising two listed REITs — Daiwa Office Investment Corporation (DOI, office, since October 2005) and Daiwa Securities Living Investment Corporation (DLI, residential/healthcare, formed via the April 2020 merger of Japan Rental Housing and Nippon Healthcare) — and three private REITs covering residential (DRP, since 2013), hotels (DHP, since 2018), and logistics (DLP, since 2020), plus one renewable-energy private fund (DSREF Core Amaterasu LP, since 2021). Aggregate AUM exceeds ¥1 trillion, supported by paid-in capital of ¥200 million and a professional staff that includes 68 real estate transaction agents and 33 ARES Certified Masters.

The company's revenue model is asset-management-fee-based, deriving management fees (and ancillary acquisition, disposition, and administrative fees) from the AUM of the six vehicles it sponsors and manages. Distribution is conducted through the Daiwa Securities Group brokerage and institutional network, providing captive access to Japanese retail, high-net-worth, and institutional capital pools. The firm is registered as a Financial Instruments Business Operator and holds the Investment Trust Management, Investment Advisory, and Real Estate Transaction Business licenses required to operate J-REITs and private real estate funds in Japan.

Strategically, the firm has pursued a vertical-diversification path within Japan, successively adding asset classes (hotel, logistics, healthcare via the DLI merger, and solar infrastructure) to its platform, while consolidating scale through mergers (Mi-Casa in 2018, the DLI formation in 2020). All revenue is sourced from internally sponsored vehicles, making the business model dependent on the fundraising capacity of the in-house fund lineup and the distribution reach of its parent.

Name

Daiwa real Estate Asset Management

Legal name

Daiwa Real Estate Asset Management Co. Ltd.

Website

https://daiwareal.co.jp

Company type

Private

Founded year

2004

Operating status

Operating

Short description

Daiwa Real Estate Asset Management is a Tokyo-based, wholly-owned Daiwa Securities Group subsidiary that manages two listed J-REITs and three private REITs across office, residential, hotel, logistics, and healthcare, plus one solar infrastructure fund, with AUM exceeding ¥1 trillion.

Ownership category

akta.pro rank

Product category

Real Estate Asset Management

NAICS

Real Estate Property Managers (53131), Funds, Trusts, and Other Financial Vehicles (525), Nonresidential Property Managers (531312)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate Investment Trusts (6798)

akta.pro primary industry

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)

akta.pro secondary industries

Office Real Estate Asset Management (BPAJAMAG), Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH), Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE), Residential Real Estate Asset Management (BPAJAMAA)

Keywords

• Real estate asset management
• REIT management
• Private fund management
• Investment management
• Real estate investment advisory

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Asset Management Fees from Listed Investment Corporations: Management fees received from listed REITs including Daiwa Office Investment Corporation and Daiwa Securities Living Investment Corporation. Fees are calculated based on each investment corporation's Articles of Incorporation, typically based on AUM or total assets under management.
2. Asset Management Fees from Private Funds: Management fees from non-listed open-ended real estate investment corporations and private placement funds investing in various real assets including residential, hotel, logistics, and solar energy sectors.
3. Investment Advisory Fees: Fees for investment advisory services provided to private real estate funds, including discretionary investment operations and advisory services.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Daiwa Real Estate Asset Management is a Tokyo-based real estate asset management company that manages listed REITs, non-listed open-ended REITs, and private placement funds investing in office, residential, healthcare, hotel, logistics, and solar real assets across Japan. As the real estate asset management arm of Daiwa Securities Group, the company provides discretionary investment management, investment advisory, and Type II financial instruments services, earning recurring management fees based on AUM with assets under management exceeding ¥1 trillion.

Product overview

Daiwa Real Estate Asset Management is a real estate asset management company managing a diversified portfolio of investment products across multiple asset classes. The company operates five main REIT products: two listed REITs (Daiwa Office Investment Corporation and Daiwa Securities Living Investment Corporation) and three private REITs (Daiwa Residential Private Investment Corporation, Daiwa Hotel Private Investment Corporation, and Daiwa Securities Logistics Private Investment Corporation). Additionally, the company manages various private real estate funds including a solar energy fund (DSREF Core Amaterasu). The company also provides discretionary investment management and investment advisory services. With AUM exceeding ¥1 trillion, the company offers products across office, residential, healthcare, hotel, logistics, and infrastructure asset classes.

Differentiator

Problem solved

Functional benefit

Products and services

• Daiwa Office Investment Corporation (DOI) Listed real estate investment corporation that invests primarily in office buildings and multi-use buildings in Tokyo's five central wards, major metropolitan areas, and regional cities. Commenced operations in October 2005.
• Daiwa Securities Living Investment Corporation (DLI) Listed real estate investment corporation resulting from the April 2020 merger of Japan Rental Housing Investments Inc. and Nippon Healthcare Investment Corporation. Invests in rental housing, student apartments, elderly care facilities, and hospitals.
• Daiwa Residential Private Investment Corporation (DRP) Non-listed open-ended real estate investment corporation focused on residential properties, including rental housing, student apartments, and student dormitories. Management commenced in March 2013.
• Daiwa Hotel Private Investment Corporation (DHP) Non-listed private investment corporation focused on hotel properties, primarily limited-service hotels in Tokyo's 23 wards and major regional cities. Management commenced in June 2018.
• Daiwa Securities Logistics Private Investment Corporation (DLP) Non-listed private investment corporation focused on logistics real estate, including warehouses and land, primarily in Tokyo, Osaka, Nagoya, and Fukuoka areas. Commenced operations in March 2020.
• DSREF Core Amaterasu Investment Limited Partnership Solar private placement core fund focused on solar energy assets. Investment limited partnership commenced operations in September 2021 as part of the real assets diversification strategy.
• Discretionary Investment Management Services Investment management business, investment advisory and agency business, and Type II financial instruments business services provided to investment corporations and private funds under the company's Financial Instruments Business Operator registration.

Quantifiable outcome

• AUM exceeding 1 trillion yen across listed and private real estate investment products
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core, key and emerging.

• Daiwa Office Investment CorporationcoreStrategic or Co-development PartnerListed REIT (TSE: 8976) investing primarily in office buildings. Daiwa Real Estate Asset Management serves as asset manager. Commenced operations October 2005. One of the flagship products demonstrating long-term asset value enhancement strategy.
• Daiwa Securities Living Investment CorporationcoreStrategic or Co-development PartnerListed REIT investing in residential properties (rental housing, student apartments, dormitories) and healthcare facilities. Formed from merger of Japan Rental Housing Investments and Nippon Healthcare Investment Corporation in April 2020. Asset manager relationship.
• Daiwa Residential Private Investment CorporationkeyStrategic or Co-development PartnerNon-listed open-ended real estate investment corporation. Management commenced March 2013. Focus on rental residential properties.
• Daiwa Hotel Private Investment CorporationkeyStrategic or Co-development PartnerPrivate investment corporation investing in limited-service hotels. Management commenced June 2018.
• Daiwa Securities Logistics Private Investment CorporationkeyStrategic or Co-development PartnerPrivate investment corporation investing in logistics facilities. Management commenced March 2020. Properties in Tokyo, Osaka, Nagoya, and Fukuoka areas.
• DSREF Amaterasu Core Fund (太陽光私募コアファンド アマテラス)emergingStrategic or Co-development PartnerSolar private placement core fund. Investment limited partnership commenced operations September 2021. Part of real assets diversification strategy.
• GX Future Consortium (formerly TCFD Consortium)keyStrategic or Co-development PartnerIndustry consortium for climate-related financial disclosures. The company joined as member in January 2022 to promote clarification of climate-related policies and expansion of sustainability disclosures. Note: The consortium was reorganized as GX Future Consortium on April 1, 2026.

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Mitsubishi Estate - Nippon Reits Investment Advisors: Asset manager of Nippon Building Fund, one of Japan's largest office J-REITs. Directly comparable as a sponsor-affiliated Japanese REIT asset manager operating flagship listed investment corporations across multiple real estate asset classes.
• Sekisui House Asset Management: Asset manager of Sekisui House Reit, Inc. and affiliated private funds. Directly comparable as a sponsor-affiliated Japanese REIT manager with a residential-focused portfolio strategy.
• Kenedix: Tokyo-based alternative asset manager with a real estate platform across listed REITs, private funds, and real estate debt. Operates comparable multi-vehicle structure and competes for institutional capital in Japan.
• Tokyu Real Estate Investment Management: Manages Tokyu REIT, Inc., focused on Tokyo-area retail and office properties. A direct peer as a sponsor-backed J-REIT asset manager with concentrated Tokyo geographic exposure.
• Japan Real Estate Asset Management: Manages Nippon Building Fund and Nippon Prologis REIT. A direct peer operating a similar multi-REIT asset management platform under a major financial sponsor (Mitsubishi Estate).
• Sumitomo Mitsui Trust Asset Management: Trust-bank-affiliated REIT asset manager operating across multiple J-REITs and private real estate funds. Closely comparable in governance discipline, sponsor relationship, and diversified real estate strategy.
• Nomura Real Estate Asset Management: Asset manager of Nomura Real Estate Master Fund and other Nomura-affiliated REITs. Competes directly with Daiwa in office and residential J-REIT asset management under a major Japanese sponsor.
• Mitsui Fudosan Asset Management: Manages Mitsui Fudosan Logistics Park and other Mitsui-affiliated J-REITs. A direct peer with comparable multi-asset-class platform and sponsor-backed distribution.

Emerging players

• Daiwa Real Estate Asset Management (historical comparison) - GLP Japan Advisors: Manages GLP J-REIT focused on logistics properties. Comparable to Daiwa's DLP fund in logistics specialization, though more narrowly focused on a single asset class.

Broad incumbents

• Blackstone (Japan Real Estate): Global alternative asset manager with growing Japanese real estate exposure through private funds. Comparable as a real estate fund manager competing for institutional capital in Japan, though operating at much larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights4 records

Customer concentration

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Daiwa real Estate Asset Management