{"id":1004116199,"date":"2015-03-25T06:20:37","date_gmt":"2015-03-25T14:20:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004116199"},"modified":"2022-12-05T22:05:17","modified_gmt":"2022-12-06T06:05:17","slug":"mitsui-fudosan-america-brings-in-new-ceo","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mitsui-fudosan-america-brings-in-new-ceo\/","title":{"rendered":"Mitsui Fudosan America Brings in New CEO"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"John<\/a>

John Westerfield, Mitsui Fudosan America<\/p><\/div>\n

Mitsui Fudosan America Inc. has found a new CEO. The real estate investment and development company has tapped John Westerfield, formerly of Morgan Stanley, to take on the position. Effective April 1, he succeeds Yukio Yoshida, who had served as president & CEO since 2011.<\/p>\n

Westerfield is no stranger to MFA. He has had a relationship with the company for roughly three decades, and for the last four years he\u2019s been a senior advisor to the board of directors.<\/p>\n

\u201cHe knows and understands the company and its strategy in the U.S.,\u201d an MFA spokesperson told Commercial Property Executive<\/i>. \u201cJohn is a highly experienced and knowledgeable real estate executive and uniquely qualified to manage the expanding MFA portfolio.\u201d<\/p>\n

Westerfield comes to MFA with a wealth of experience in the real estate industry. He began his career in Morgan Stanley\u2019s real estate investment banking group fresh out of business school in 1985, and rose to the position of managing director before going out on his own with the launching of his private real estate firm in 2008.<\/p>\n

\u201cHis background running the global commercial real estate finance group at Morgan Stanley for many years provides invaluable experience to help guide MFA,\u201d the spokesperson added.<\/p>\n

MFA\u2019s growth strategy calls for strong leadership. The company, the U.S. subsidiary of Tokyo\u2019s Mitsui Fudosan Co. Ltd., has been ramping up its activities over the last three years. During that time it has invested more than $2 billion in office and residential development endeavors in key markets on both coasts, specifically in New York, Washington, D.C., San Francisco and Seattle. MFA won\u2019t disclose specifics about the amount it plans to invest in the U.S. in 2015; however, the spokesperson remarked that the company \u201ccontinues to expect to add to the portfolio as we identify the right opportunities and partners to create value for our tenants and stakeholders.\u201d Westerfield will have his hands full, focusing on implementing the current MFA strategy, as well as advancing Mitsui Fudosan Group\u2019s core initiatives.<\/p>\n

\"Kaoru<\/a>

Kaoru Yamaoka, Mitsui Fudosan America<\/p><\/div>\n

But Westerfield won\u2019t bear the burden at the top alone, as did his predecessor, Yoshida, who is making his way back to Tokyo to take on the role of general manager of Mitsui Fudosan\u2019s Office Building Development Department. Westerfield will serve solely as CEO, while Kaoru Yamaoka, senior vice president of corporate planning, will step into the position of president. The spokesperson noted that MFA decided to split titles to address the continued growth of its U.S. portfolio.<\/p>\n

Indeed, MFA, which established a footprint in the U.S. in the 1970s, has been quite active in expanding its presence here. Activities over the last six months include the September 2014 opening of 1200 Seventeenth St.<\/span><\/a>, a 170,000-square-foot office tower in Washington, D.C., developed in a joint venture with Akridge. Earlier this year, the company announced it would take part in the development of two apartment projects in Seattle and San Francisco–tentatively named 2nd & Pike and 650 Indiana, respectively–adding 450 units to its portfolio. And in one of its most high-profile moves, MFA acquired a majority stake in Fifty Five Hudson Yards<\/span><\/a>, a 1.2 million-square-foot office high-rise within the 28-acre, $20 billion Hudson Yards mixed-use development in New York City, partnering with Related Cos. and Oxford Properties Group on the full capitalization of the office building, which is now under construction.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Mitsui Fudosan America Inc. has found a new boss. <\/p>\n","protected":false},"author":969,"featured_media":1004116202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21783,21742],"tags":[],"class_list":["post-1004116199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-investment","category-latest"],"acf":[],"yoast_head":"\nMitsui Fudosan America Brings in New CEO - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mitsui-fudosan-america-brings-in-new-ceo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mitsui Fudosan America Brings in New CEO\" \/>\n<meta property=\"og:description\" content=\"Mitsui Fudosan America Inc. has found a new boss.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mitsui-fudosan-america-brings-in-new-ceo\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-03-25T14:20:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T06:05:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/John-Westerfield-Mitsui-Fudosan-America.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"448\" \/>\n\t<meta property=\"og:image:height\" content=\"280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mitsui-fudosan-america-brings-in-new-ceo\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/mitsui-fudosan-america-brings-in-new-ceo\/\",\"name\":\"Mitsui Fudosan America Brings in New CEO - 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