Morgan Stanley's real estate related funds have invested over JPY 2.5 trillion in more than 4,000 assets in Japan since 1998 (as of April 2008). With expertise in principle investing, Morgan Stanley Capital's capabilities cover a wide range of activities including investment in commercial real estate, ranging from office buildings to residential, hotels, leisure facilities and condominium developments. Investments also include　non-performing real estate collaterized loans and high-yield debt products. Additionally, our asset management services include leasing, cost management, property sales and business planning.

We design our services to add value for our clients and maximize their returns from investments in real estate assets. In close collaboration with Morgan Stanley teams, we leverage the Firm's global network and rigorous market research and analysis to deliver innovative solutions. With unique insight into the Japanese market, a client-first approach and industry specific knowledge, Morgan Stanley Capital provides locally tailored services and plays an important role in adding value to the real estate market in Japan. Through our strategic and extensive operating platforms, we are able to commit capital to help our clients achieve their objectives.