Doctorate in engineering, the University of Tokyo, 1991. Following a visiting fellowship in the Department of Land Economy at the University of Cambridge in the UK in 1996, appointed as professor in the Department of Real Estate Sciences at Meikai University in 1999. Responsible for Real Estate Finance Course in the Waseda University Graduate School of Finance, Accounting and Law since 2004.

Engaged in research and teaching with academic and industry researchers aimed at perfecting real estate financial engineering. Chairman of the Japanese Association of Real Estate Financial Engineering since 2004. Director of the Institute of International Real Estate Studies since 2007. Chairman of the Japan Association of Real Options and Strategy. Major publications include "Fudosan Kinyu Kogaku (Real Estate Financial Engineering)," Seibunsha, 2001, "Nyumon Fudosan Kinyu Kogaku (Real Estate Financial Engineering, an Introduction)" Diamond, 2001, and "Riaru Opushon no Shiko to Gijutsu (Real Option Concepts and Techniques)," Diamond, 2004.

Raymond Torto is CB Richard Ellis' Global Chief Economist. Dr. Torto, one of commercial real estate's most renown economists and forecasters, directs CBRE's worldwide team of commercial real estate market analysts and serves as the firm's primary spokesperson on macro economic issues and the global commercial real estate market.

Dr. Torto, a former Professor of Economics, Department Chairman and Director of a Public Policy Institute at the University of Massachusetts, has successfully performed in various policy and line management positions in state and local government. After gaining valued experience in the public and academic sectors, he built on his knowledge and expertise to become a founding principal of Torto Wheaton Research (TWR), an internationally recognized commercial real estate research company. TWR, now rebranded as CBRE Econometric Advisors, provides research advice to institutional investors across the globe.

Dr. Torto is the author of four books and numerous articles on financial markets, real estate and tax policy, and is in high demand as a keynote speaker at association and client conferences.

Dr. Torto is active in various state and national organizations. He actively serves on several corporate boards, as well as being involved with multiple business and civic organizations among them: American Real Estate Society (Research Fellow); Association of Real Estate and Urban Economics; Boston Real Estate Board; Associated Industries of Mass (Chairman, Council of Economic Adviser); Counselors of Real Estate (Past Executive Board, Past Education Chairman, Past Chairman of New England Chapter); Real Estate Research Institute (Board Member, RERI Fellow); Urban Land Institute (Council Member); 2007 James A. Graaskamp Award for Real Estate Research Excellence in Partnership with Bill Wheaton; Pension Real Estate Association (Board Member, Treasurer); National Council of Real Estate Investment Fiduciaries.

Dr. Torto received a Ph. D in Economics, MA and AB from Boston College.

Tim Bellman moved to London in 2007 to become head ING Real Estate Investment Management's team of 53 real estate analysts worldwide.

Educated at Cambridge University and Reading University, Tim is a specialist in research and forecasting projects which integrate macro-economic techniques with qualitative data.

He joined ING in 2004 in Hong Kong and remains a member of ING Real Estate Investment Management's Asian Investment Committee. Resident in Hong Kong for sixteen years, he is a noted market commentator/presenter on Asian real estate. He was previously the regional investment strategist for LaSalle Investment Management and Head of Research & Strategy for Asia-Pacific for Jones Lang LaSalle. He is Chairman of the Asian Real Estate Association's Research Committee.

Mr. Yamaguchi worked for Japan Travel Bureau Inc. (JTB) for 39 years after graduating from Tokyo University of Foreign Studies in 1966. During his tenure at JTB, Mr. Yamaguchi was assigned in London and New York offices for more than 11 years, and he served as Executive Managing Director & Chief Investment Officer of JTB Pension Fund for 8 years until his retirement from JTB in 2005. In 2006, he served as Senior Advisor at Merrill Lynch Investment Managers Co., Ltd. Japan. In January 2007, he joined Nomura Securities Co., Ltd. as Senior Executive Advisor. He has been Advisor of Corporate Pension Council of Japan since 2005 and was former Councilor of PFA. He is a member of International Advisory Board of the Center on Japanese Economy and Business, Columbia University.

Mr. Komachi graduated from Graduate School of Engineering, Waseda University and joined Nomura Real Estate Development Co., Ltd. in 1976. In 1988, he was appointed as General Manager of Commercial Property Develop And Management Department and was mainly in charge of the projects of new buildings and tenant sales for 7 years. From 1996, he was engaged in the business reconstruction including development around Higashi-Totsuka Station. He was appointed as Assistant Company President of Investment Management & Advisory Company at its establishment in 2000 and was responsible for asset management and research in real estate securitization businesses. Mr. Komachi joined Pension Fund Association in April 2007 and has been in the current position since then.

Arimori joined Mitsubishi Estate Co., Ltd. (MEC) in April 1980 and was with them for over 20 years prior to moving to Mitsubishi Jisho Investment Advisors (MJIA) in 2001. During his time with MEC, he spent seven years with the MEC's subsidiary in Los Angeles, California, returning to Japan in 1998 and was appointed Deputy General Manager of MEC's Urban Development Department in 1999. He then took the post of General Manager of MJIA's Asset Management Department in 2001, was named to MJIA's board of directors in 2003 and was appointed President of MJIA - his current post - in April 2005.

Charles Leitner is Managing Director and Global Head of RREEF Alternative Investments. Mr.Leitner is responsible for the management and strategic direction of RREEF's global alternative assets business. Mr.Leitner joined RREEF in August 1996 and became a Partner in the firm in the year. In 2001 he assumed overall responsibility for RREEF's U.S. real estate acquisition business and in 2004, he became the Global Head of Real Estate and Infrastructure. In 2006, he was named head of the global alternative investment business for Deutsche Asset Management, which includes real estate, infrastructure, and private equity (branded RREEF). Mr.Leitner is based in RREEF's New York headquarters and is a member of the Global Operating Committee for Deutsche Asset Management. Prior to joining RREEF, he was associated with the Teachers Insurance & Annuity Association and General Electric Capital Corporation in real estate finance. He is a Trustee of the Urban Land Institute, and a member of the Pension Real Estate Association, the National Association of Industrial and Office Parks, and the Real Estate Roundtable. Mr.Leitner graduated from the University of Pennsylvania with a B.A. in Urban Studies/Regional Science.

Dr. Juri Pill is Senior Vice President - Research at Oxford Properties Group, a Canadian real estate company based in Toronto that manages $17 billion in assets. Oxford is a fully owned subsidiary of OMERS - the Ontario Municipal Employees Pension System - which has almost $50 billion in assets, with about $7 billion of those assets in real estate equity.

Prior to joining Oxford, Dr. Pill was Senior Vice President - Infrastructure at Borealis Capital, a Canadian manager of alternative capital assets affiliated with OMERS, with $9.1 billion under management at that time, and served as President and CEO of Enwave District Energy Limited, a district energy company in downtown Toronto. He spent two decades as an executive with the Toronto Transit Commission. A Professional Engineer, he completed his undergraduate work in Mechanical Engineering (Mechanical Science Option) at McGill University and earned an M.Sc. in Control Engineering and a Ph.D. in Organizational Science from Case Western Reserve University.

Dr. Gordon directs the 22-person Investment Strategy and Research group of LaSalle Investment Management, which analyzes capital markets, regional economies and property markets in 150 metropolitan areas and 30 countries. He is managing editor and a primary author of LaSalle's Investment Strategy Annual. He also serves on the Management Committee of the firm and the Investment Committees for Asia and North America, and chairs the Global Research Board of Jones Lang LaSalle, which guides the efforts of approximately 230 market analysts around the world. He serves as the chief strategist for several of LaSalle Investment Management's clients. Previously, he served as Director of Research at Baring Advisors and at Real Estate Research Corporation in Chicago.
Dr. Gordon currently serves on the Board of the International Real Estate Society and the Editorial Boards of three journals. He has chaired and continues to serve on PREA's Research Committee. In 2000, he received the "Graaskamp Award" from PREA for his contribution to institutional investment research and strategy.
He received a Ph.D. from the Massachusetts Institute of Technology, an M.Sc. from the London School of Economics and a bachelors degree from the University of Pennsylvania. He is a member of AFIRE, ULI, NCREIF and NAREIT.

Based in MGPA's Hong Kong office, James is the Chairman and Chief Executive Officer at MGPA. In this role James supervises the strategic management and oversight of MGPA globally and he serves in an oversight capacity for the Funds.

James has over 33 years experience in the real estate sector and in the last 22 years has been directly involved in real estate funds management in both the listed and private equity sectors in Asia, Europe, US, Australia, and Latin America. Prior to creating MGPA James worked within the Lend Lease Group as a director of Real Estate Investments.

Ochtar Capital Partners was founded in February 2004 following a management buyout of Lend Lease Corporation's Global Property fund unit, which James led. In July 2004 he subsequently affected the formation of a joint venture between Ochtar Capital Partners and the Macquarie Group, creating MGPA.

Owen is a Managing Director of Morgan Stanley, CEO of Morgan Stanley Asia, Chairman and CEO of Morgan Stanley Real Estate Investing and a member of the Firm's Management Committee.

He joined Morgan Stanley in 1987 in the real estate group within the Investment Banking Division and has over 20 years of investment industry experience. Owen began managing the Firm's real estate investing business in 1994, was named Managing Director in 1995 and head of Morgan Stanley Real Estate in 2000. Morgan Stanley Real Estate is a leading global real estate financial services practice that grew significantly during Owen's leadership.

From 2005 to February 2008, Owen was President of MSIM, Morgan Stanley's global asset management arm and one of the world's largest active asset managers. MSIM's investment capabilities and assets under management expanded significantly while Owen was President.

Owen became CEO of Morgan Stanley Asia in February 2008 and relocated from New York to Hong Kong. Owen was also recently appointed Chairman and Chief Executive Officer of Morgan Stanley Real Estate Investing.

Owen is a member of The Young Presidents' Organization Hong Kong Chapter, Trustee (inactive while stationed in Asia) of Woodberry Forest School and the former Chairman of the Pension Real Estate Association. He received a B.S. from the University of Virginia and an M.B.A. from Harvard Business School.

Mr. Tomikawa is General Manager of Solution Services Department, Real Estate Solution Services Department. Previously he was Managing Director in charge of Mitsui Fudosan Investment Advisors, Inc. (MFIA). He is one of the founding members of MFIA established in October of 1997. He is responsible for MFIA's real estate investment advisory services with institutional investors, particularly from overseas.

Prior to joining MFIA, Mr. Tomikawa was Associate Manager of New Business Promotion Team in New Business and Information Promotion Department at Mitsui Fudosan Company, MFIA's parent.

Between 1989 and 1995 Mr. Tomikawa was Vice President at Mitsui Fudosan's New York subsidiary, Mitsui Fudosan (New York), Inc. Mr. Tomikawa oversaw the asset management of Mitsui Fudosan's East Coast portfolio including 1251 Avenue of the Americas and 461 Fifth Avenue buildings.

From 1985 to 1986 Mr. Tomikawa was Project Manager for the development of Mitsui Fudosan's 100-room hotel in Katmandu, Nepal, Hotel Himalayas Katmandu. Mr. Tomikawa started his career at Mitsui Fudosan's Condominium Development Department in 1983.

Mr. Tomikawa was an adjunct lecturer at Keio University between 1998 and 2007 and he has been a member of the Real Estate Finance Advisory Group at Department of Land Economy, University of Cambridge since 2006.

He received B.A. in Economics in 1983 from Keio University and an M.B.A. in 1988 from Harvard Business School.

As the General Manager of Investment Management Division Mr. Inada is in charge of Tokyo Tatemono's Securitization works and expanding international networks since January 1998.

He graduated from Keio University and joined Tokyo Tatemono in 1983. After seven years of his experience in brokerage business for commercial properties in Tokyo and Osaka, he was assigned to International Business Department in January 1990. Including one-year trainee period in New York, he was in charge of Tokyo Tatemono's investment in the U.S.

In April 1992, Mr. Inada transferred to the Planning Division, and worked for Tokyo Tatemono's post bubble restructuring activities. In 1997, the Board of Tokyo Tatemono adopted Mr. Inada's plan for establishing a new Division for newly coming globalization in the Japanese Real Estate Market. Investment Management Division was added to the Tokyo Tatemono Organization Chart in January 1998.

He just assumed the chairman of International Committee of ARES in September 2009.