Building Institutional-Grade Real Estate Platforms in Japan
A Japan-focused real estate investment and development platform connecting global capital with strategic opportunities
LUMITAS CAPITAL PARTNERS
Lumitas Capital Partners partners with global investors, family offices, and strategic capital to access differentiated real estate opportunities in Japan.
We originate, structure, and execute investments across development, acquisition, and value-add strategies, with a strong focus on long-term demand drivers and institutional exit outcomes.
POSITIONING
Not a brokerage.
Not a generic advisory firm.
A focused investment and development platform for
strategic real estate opportunities in Japan.
WHY LUMITAS
Japan remains one of the world’s most liquid and institutionally investable real estate markets, yet many of its most attractive opportunities remain difficult for foreign capital to access and execute.
Lumitas was built to bridge that gap.
We combine:
- cross-border investor access,
- Japan market execution,
- development and repositioning capability,
- and a transaction mindset shaped by exit discipline from day one.
Our role is not simply to source assets.
Our role is to help capital enter Japan through the right structure, with the right local capability, and with a clear path to value creation and exit.
INVESTMENT FOCUS
I. Semiconductor-Driven Real Estate
II. Value-Add Hospitality & Living Assets
II. Value-Add Hospitality & Living Assets
Hospitality, long-stay residential, and supporting real estate located in supply-constrained markets benefiting from semiconductor-related industrial expansion.
II. Value-Add Hospitality & Living Assets
II. Value-Add Hospitality & Living Assets
II. Value-Add Hospitality & Living Assets
Assets where repositioning, branding, and operational improvement can unlock stronger cash flow and improved exit value.
III. Strategic Development Platforms
II. Value-Add Hospitality & Living Assets
III. Strategic Development Platforms
Projects that can serve as anchor assets for scalable thematic platforms in Japan.
FLAGSHIP THESIS – KUMAMOTO
A Once-in-a-Generation Demand Shift
Kumamoto is rapidly emerging as a key semiconductor hub in Japan, driven by TSMC and the broader supply chain ecosystem.
This creates a new category of real estate demand
- long-stay corporate accommodation
- executive housing
- hybrid hospitality
This is not a tourism-driven opportunity
— it is a structural demand shift.
FLAGSHIP PROJECT
Kumamoto Hospitality & Residence Platform
A hybrid hospitality and Hotel residence development located near TSMC’s Kumamoto operations
Project Highlights
- 200+ key Designer Hotel + Hotel Residences
- First-mover Luxury Hospitality in Kumamoto Semiconductor hub
- 5 minutes to TSMC
- 10–15 minutes to Kumamoto airport
Investment Logic
- Pre-sale residence units → early capital recovery
- Hotel operations → stabilized cash flow
👉
Designed to recover a significant portion of equity while retaining a core hospitality asset for exit
Exit Strategy
- Stabilization
- Institutional sale (REIT / funds / operators)
PLATFORM & PIPELINE
Lumitas is building a scalable real estate investment platform in Japan, spanning development, acquisition, and value-add strategies.
1. Development – Kumamoto
- Semiconductor-driven project
- Platform anchor investment
- Institutional exit design
2. Acquisition – Japan (Active Deals)
- Hotel acquisition evaluation
- Entry structuring for foreign investors
- Financial and operational due diligence
- Asset management planning
3. Value-Add – Nasu
- Hotel repositioning strategy
- Renovation and capex planning
- New operational model
- Full execution framework
Platform
Kumamoto represents the first anchor asset of a broader Japan-focused investment platform.
CORE CAPABILITIES
Investment Structuring
- Entry strategies aligned with capital, tax, and exit
Development Execution
- Concept → design → delivery
Acquisition & Underwriting
- Deal sourcing, due diligence, financial modeling
Asset Repositioning
- Branding, redesign, operational enhancement
Asset Management
- Performance optimization and exit preparation
The Team
Daphne Hsiao 蕭亦嵐 Chief Executive Officer
Daphne Hsiao is the Founder and CEO of Lumitas Capital Partners, leading the firm’s investment strategy, capital formation, and cross-border execution.
She is a seasoned real estate professional with extensive experience across the full asset lifecycle, including development, leasing, and operational management. Her background spans commercial real estate, F&B, and retail sectors across Greater China, the United States, and international markets.
Daphne has been actively involved in project origination, development execution, tenant strategy, and operational management, with a strong understanding of how to position and operate assets to meet market demand.
At Lumitas, she focuses on structuring cross-border investments and bridging global capital into Japan’s real estate market, particularly in sectors driven by long-term structural demand.
Focus:
Capital strategy / Investor relations / Cross-border investment (Greater China & US)
Daker Tsoi 蔡超恒 Strategic Partner
Daker Tsoi is the Founder of Lifestyle Creating Shanghai, with over 35 years of experience in commercial real estate development, asset repositioning, and lifestyle-driven mixed-use projects.
He has been involved in landmark developments such as Shanghai Xintiandi and Bridge 8 Creative Industry Park, and has worked with leading international investment institutions and developers.
His expertise spans concept development, product positioning, branding, and operational strategy, with a strong track record in transforming underutilized assets into high-value commercial destinations.
At Lumitas, he supports strategic positioning, product definition, and value creation initiatives, particularly in projects requiring strong branding and placemaking capabilities.
Focus:
Positioning / Branding / Value creation
Steven Kwok 郭晨 Chief Investment Officer
Steven Kwok brings over 30 years of leadership experience across commercial real estate, retail platforms, and asset management in Greater China and Asia.
He has held senior roles including Managing Director of MorningHaze, Group Director at Space Asset Management, and Chief Representative for Strategic Development at Peking University. He has also served as President of U-Town Life Plaza, overseeing leasing, operations, and financial performance.
His project experience includes large-scale commercial developments such as Beijing Dashilan, Beijing E-Commerce Valley, Chongqing HOTMALL, and Harbin Central Street, where he contributed to asset positioning, leasing strategy, and operational performance.
In addition, he has held senior roles in international retail groups including Nice Claup, Point Inc., and Sanei International, as well as managing luxury and multi-brand portfolios at SOGO Hong Kong.
At Lumitas, Steven leads investment strategy, and asset-level value creation, supporting both development and value-add investment strategies.
Focus:
Investment strategy / Asset repositioning / Commercial operations
Jack Yang 楊瀚雲 Senior Advisor
Jack Yang has over 30 years of international experience in real estate development and investment across Taiwan, Hong Kong, Mainland China, Japan, and Southeast Asia.
He has participated in projects across multiple markets including Taiwan, Hong Kong, Shanghai, Zhengzhou, the Philippines, and Japan, with involvement spanning acquisition, development, project integration, and asset management.
As Managing Director of Long Run Estate & Investment Group, he oversees real estate investment activities across Greater China and Southeast Asia, with projects also extending to the U.S. and Canada. He also serves as a Board Director of H Hospitality Group in the Philippines, overseeing resort and hospitality operations, and BW Real Estate Group, managing residential developments in Metro Manila.
He is recognized for his ability to identify core assets, integrate resources, and execute projects efficiently across different markets.
At Lumitas, he provides strategic guidance on asset selection, development planning, and value enhancement.
Focus:
Asset selection / Development strategy / Value enhancement
Yusen Chiao 喬裕生 Strategic Advisor
Yushen Chiao is a senior real estate executive with over 20 years of experience in commercial property, urban development, and investment strategy.
As a former Managing Director of JLL West China, he led operations across key cities including Xi’an, Chengdu, and Chongqing, overseeing major mixed-use developments, retail assets, and investment advisory projects for institutional clients.
He has advised governments, developers, and Fortune 500 companies on large-scale urban development, investment strategy, and market positioning.
At Lumitas, he contributes strategic insight into urban growth trends, market positioning, and cross-border investment strategies.
Focus:
Market strategy / Urban development / Cross-border investment
Our team combines full-cycle development experience, cross-border capital capability, and local execution expertise in Japan.
