VP, Investment Management - Japan Real Estate - (Tokyo, Tokyo, Japan)

About this role

BlackRock APAC Real Estate is one of the investment businesses within BlackRock Private Markets. The team manages equity real estate investments in Asia-Pacific on behalf of institutional clients, primarily in comingled closed-end value funds through the Asia Property Fund series and additionally through separately managed accounts. Our extensive experience encompasses all major property types, including office, industrial, retail, residential and hospitality. The APAC Real Estate team consists of 29 investment professionals located in five offices across the region providing a uniquely local real estate team, within a global asset manager. The fund CEO/CIO is based in Sydney, Australia, and the portfolio management team sits in Hong Kong. It is supported by numerous dedicated business partners including Legal, Compliance, Tax, Finance, Operations, ESG and Investor Relations as well as Real Estate Product Strategy and Research. The team has been investing in APAC real estate since 1999 and has undertaken more than 60 investments in the region and currently has approximately US$4.7bn (as of July 2025) in assets under management. The team has been managing its sixth value-add flagship fund, a closed-ended direct equity investment fund which intends to raise US$1.5bn, targeting investments in the primary countries of Japan, Australia, Singapore, and New Zealand.

About BlackRock Real Estate in Japan:

BlackRock Japan Real Estate is responsible for acquiring, financing, asset managing and disposing of real estate investments in Japan for the APAC Property Fund business. The team of 4 investment professionals in Tokyo also provide market research and real estate investment strategy recommendations for Japan platform to the APAC portfolio management team.

Role Description:

Reporting to the Head of Japan, Real Estate, the role is to develop and leverage an extensive industry network of agents, brokers, advisors, corporates, JV partners, financiers and other real estate stakeholders to source creative, hard to access and original investment opportunities for the APAC Real Estate mandates. Initial focus will be on deploying equity capital into successful value-add investment opportunities for our closed-end Asia Fund series. The successful candidate will also be responsible in managing the strategy of value–add RE investments in Japan. This includes formation and implementation of asset specific initiatives to extract value and deliver superior returns from a diverse multi sector portfolio with primary/ day to day BlackRock to external counterparties such as operating partners, joint venture partners, property managers, agents, brokers and development managers.

The role requires prior experience with deal sourcing, asset management, financial modelling skills and strong communications skills. Experience of development management is plus. The individual will work with and help guide the development of junior investment professionals and must thrive in a dynamic team-based environment that demands perseverance, creativity and the ability to balance multiple tasks in order to work effectively in a global cross-border team.
 

Skills/Competencies:

• Represent BlackRock in the market as a reputable player of the highest integrity consistent with the Firm’s values.
• Maintain an up to date understanding of real estate market sectors, cycles, and key performance drivers
• Maintain effective working relationships with both BlackRock and external associates – e.g., joint venture partners, real estate consultants, valuers, bankers, financial & tax consultants, and legal counsels.
• Ensure that all recorded investment data and written divestment/investment proposals are of the highest quality and consistent with the Firm’s set standards to facilitate comparison and analysis.
• Lead in the preparation of divestment/investment proposals and investment committee memorandums.
• Source and provide research data supporting any update in key underwriting assumptions (markets rents, growth rates, vacancies, operating expenses, capital values, yields / cap rates, tax, financing, etc).
• Gain a full understanding of all the underwriting assumptions and testing these to optimize returns i.e., operating assumptions as well as capital structure and tax assumptions.
• Lead due diligence, preparation of external marketing material
• Manage leasing agents, property managers, deployment of capital expenditure and drive the formation of leasing plans.
• Preparation of accurate financial modelling, hold/ sell analysis including sensitivity analyses to provide reliable, accurate actual/ forecast investment returns.
• Lead in preparation of divestment/ investment proposals and investment committee memorandums.
• Interface with other functions within BlackRock (in particular Funds Management, Capital Transactions, Corporate Finance, Finance, Risk & Quantitative Analysis, Legal, Risk & Compliance, Company Secretarial) to successfully close the transaction.

Experience, Skills & Knowledge Required:

• Tertiary academic qualifications, preferably in real estate or finance.
• Minimum of 7 years’ experience in real estate, financial services, or investment analysis.
• Proficient in Microsoft Excel, Word, and PowerPoint.
• Proven ability to manage multiple priorities and meet tight deadlines.
• Relevant real estate certifications such as Takken, Appraiser, ARES Master, or equivalent.
• Flexibility with working hours, especially during quarterly reporting periods or active divestment/investment phases.
• Strong interpersonal and communication skills.
• Entrepreneurial mindset and self-starter attitude.

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our hybrid work model

BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.

About BlackRock

At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being.  Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.

This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.

For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

BlackRock is proud to be an Equal Opportunity Employer.  We evaluate qualified applicants without regard to age, disability, family status, gender identity, race, religion, sex, sexual orientation and other protected attributes at law.