Tokyo. Photo: Shutterstock.com

U.K. firm Withers has boosted its presence in Tokyo with the addition of a real estate investment partner.

Toshihiko Tsuchiya joins from Orrick, Herrington & Sutcliffe, where he was a Tokyo-based partner. Dual-qualified in Japan and New York, he has represented global investment funds such as Morgan Stanley and LaSalle Investment Management on real estate transactions in Japan.

Tsuchiya joined Orrick in 2006 from Jones Day, where he was a partner for five years. He practiced with Tokyo-based firm Yanagida & Nomura earlier in his career.

The hire is part of Withers' strategy to build up a Tokyo-based real estate investment team. In 2018, the firm hired a nine-lawyer team in Tokyo, expanding beyond the office's initial focus on tax advisory work to a full-service investment funds practice. Tsuchiya adds to three existing real estate partners in Tokyo: Gerald Fujii, Naoki Ueyama and Steven Wheeler. He will also work closely with real estate special counsel Toshikazu Sakai, who joined from Japanese firm Anderson Mori & Tomotsune in March.

Japan's negative interest rates, in place since 2016, has led to more inbound foreign investment in the country's real estate market. "Major international investment funds are seeking commercial and residential real estate assets in economically and politically stable locations," Jeremy Wakeham, global CEO of Withers' business division, said in a statement. "Japan remains a very attractive market for them, offering valuable acquisitions, including opportunities to pick up distressed assets at attractive rates."

Withers first opened in Tokyo in 2015 as a tax adviser's office and became a law office three years later. Tax partner Eric Roose leads the office. In 2018, the firm, known as Withers Bergman in the United States, added 11 partners in Asia, the most partner hires among the region's international firms that year. In December, Withers chief executive Margaret Robertson told Law.com International that the firm plans to continue expanding teams in Tokyo, Hong Kong and Singapore, aiming to increase revenue contributions from Asia to match those from Europe and the U.S.

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