One of the largest real estate advisory and investment management firms to institutional investors globally is in the expansion mode. The Townsend Group has opened its first office In Asia and appointed Nicholas Wong as principal to focus on business development and investment underwriting in the region. Wong previously was the managing director of Asia Pacific at ING Real Estate Select.
Wong will report to Nick Cooper, a principal with Townsend Group responsible for growing the company’s real estate investment management business in Europe and Asia. “We’re confident that the Asia Pacific region contains some of the most opportunistic real estate investments in the world, so we’re very pleased that we’ve secured someone of Nick’s caliber and experience to lead the expansion of our business there,” says Cooper.
“Nick’s ability to identify and underwrite investments in the Asian region will undoubtedly [add value] to our clients’ portfolios,” adds Cooper. The Townsend Group already has $3.2 billion invested in Asia Pacific region, and that figure is expected to grow. The newly opened office is in Hong Kong.
Prior to joining ING in November 2007, Wong held senior positions in real estate investment and commercial banking. He has worked in real estate investment and finance for 22 years, the past 16 years in Asia.
Wong believes Townsend enjoys a unique position in the marketplace. “Townsend’s global scale and its expertise in manager selection will ensure that we will be able to offer investors wishing to enter these markets insights into the region that would be difficult to match elsewhere,” he says reassuringly.
Founded in 1983, the Cleveland-based Townsend Group advises on more than $100 billion in property investments around the world on both a discretionary and non-discretionary basis. Its clients include major European, Asian and U.S. corporate and public pension entities; sovereign wealth funds, endowments, foundations and high-net-worth investors.