
Izumi Watanabe
Senior Vice President, Corporate Finance
April 2024
Asia Pacific
Although LaSalle has been in the Canadian market since the early 2000s, my first direct exposure to LaSalle was with the Public Securities team during my time in equity research. I always thoroughly enjoyed and appreciated our discussions about the Canadian market, developments in the REIT sector and our research insights. It was easy to tell this was a group that was dialed into the fundamentals.
A few years later, in 2017, a former colleague who had recently joined LaSalle reached out. They knew I was exploring my next opportunity and spoke highly of the firm’s growth prospects—particularly the launch of a new core fund, the long-standing value-add series and the strong team. I met with a number of the Canadian team members and it immediately felt like the right place to continue my career.
My initial role at LaSalle was as part of LaSalle’s Asset Management team, which I joined shortly after the launch of the LaSalle Canada Property Fund and while our value-add fund was deploying its remaining capital and preparations were underway for launching the next vehicle. In addition to my asset management responsibilities, I became more involved in fund-level strategy, helping to manage it and supporting the design and launch of future Canadian value-add initiatives. Over time, this led to my current role as Deputy Fund Manager for LaSalle’s value-add platform in Canada.
In addition to my portfolio management responsibilities, I also saw an opportunity to streamline our approach to leverage and optimize lender relationships. Given my background in commercial lending and equity research, I stepped into the role of leading debt capital markets for our Canadian platform.
One of my favorite aspects of my job is the opportunity to solve problems creatively. It keeps the work dynamic and challenges me to think beyond the obvious. Whether it’s structuring a new fund, collaborating with the asset management team on property-level strategy, or crafting the debt strategy for a core fund repositioning, I find it incredibly rewarding to contribute ideas that drive meaningful outcomes.
Prior to joining LaSalle, I began my career in the Commercial Mortgage-Backed Securities group at one of Canada’s largest non-bank lenders. When the global financial crisis brought the market to a standstill, I pivoted to more traditional lending, with a focus on government-insured multifamily financing through the Canada Mortgage and Housing Corporation. In that role, I was responsible for originating, underwriting and securing credit approval for new business across Canada.
From there, I transitioned out of the lending world and joined the Capital Markets division of one of Canada’s big five banks, where I worked in the Institutional Equity Research team covering Canadian real estate and REITs. It was an exciting time in the REIT space in Canada, marked by a wave of IPOs, M&A activity and global portfolio expansion by Canadian REITs and REOCs. My time in equity research was invaluable and foundational to the success I have had during my time at LaSalle.
Beyond my work at LaSalle, spending time with my family is a top priority. My wife and I have two kids – a seven-year-old son and a two-year-old daughter – who keep us on our toes. I also make sure that I am balancing work and life through making time to stay active throughout the year, snowboarding in the winter and golfing and running during the warmer months. Last fall, a good friend organized a 50-kilometer run around the Manhattan Loop. I quickly realized my sweet spot is a half-marathon – I’m currently training for one coming up in a few weeks!
I discovered LaSalle through a stroke of luck. I was waiting for another position to begin in the Baltimore area and was looking for something to fill the gap when I stumbled upon a temporary position at LaSalle in the Securities business’ Portfolio Management and Analysis Team.
I was fortunate to be offered the position, and in the subsequent months, I really enjoyed the organization and the team. That summer, I was offered the position on a permanent basis, so I had a choice to make. I elected to stay and have been at LaSalle ever since!
Throughout my time at LaSalle, I have enjoyed a very interesting role and great progression over the past 14 years. My initial role was unique because from day one I had direct, daily access to key decision makers in the investment process as well as the behind-the-scenes aspects of public real estate investing. While my current role has evolved outside of that initial team, I’d credit that exceptional exposure and the mentorship from senior team members for laying the foundations for my knowledge base in the business and my growth in the organization.
There are two particular aspects of my job that I enjoy the most. Firstly, is the team dynamic that has been ever present in my tenure here, which is best described as an overall willingness from anyone at any level to roll up their sleeves and help get something done. The second would be the organic career growth that has led to my current role – there was never a single silo or trajectory for my role, and my career at LaSalle has been an evolution of responsibilities over time.
The best advice that I could give my younger self would be to not shy away from tasks or projects that are outside of your comfort zone. There is a saying in the Securities team that comes from a former group CEO who would offer “an opportunity to excel”. These “opportunities” were often quite daunting but ultimately very rewarding. Taking these opportunities meant sometimes struggling and other times prevailing but overall resulted in significantly growing my knowledge. It also gave senior team members confidence in my abilities to contribute.
Regarding my work/life balance, being in the LaSalle and the Securities team has always been easy to navigate, and I attribute that to the team aspect that is so important to me and the organization. That balance allows me to enjoy my time outside of my career, pursuing other passions. I love spending time with my wife, our two children and our puppy, doing whatever it may be – traveling, gardening, attending sporting events or playing at the beach or pool; and I’m an avid sports fan – Go O’s, Terps and Commanders!
I discovered LaSalle when a recruiter reached out to me about a corporate secretarial position at LaSalle and the opportunity immediately stood out. LaSalle’s reputation as a globally respected real estate investment manager, coupled with its strong corporate governance culture, made it too good to pass up.
I had been looking to take the next step in my career with an established, reputable firm and LaSalle checked every box. The role promised both challenge and growth, within a company known for its professionalism, high standards and collaborative environment. It felt like a natural progression and a chance to be part of something significant.
My initial role at LaSalle was in the corporate secretarial function, a role I held for ten years under the guidance of Marnie Prater, who later became our Chief Operating Officer, Asia Pacific. Working closely with her was an incredibly formative experience, and after her promotion, I found myself missing that dynamic. So, when a role opened within the Operations team, I took a leap of faith and applied.
Moving to Operations was a pivotal step in my career—it significantly broadened my scope and gave me the opportunity to build on the foundation I had developed over a decade. It challenged me in new ways and allowed me to contribute at a higher strategic level across the business.
That leap ultimately led to my promotion to Vice President, a milestone I’m grateful for and deeply proud of. I’m incredibly thankful to the people around me—those who supported my transition, recognized my efforts and gave me the space to grow into this new role. It’s a testament to the collaborative culture at LaSalle and how the right support system can truly empower you to reach the next level.
The aspect of my job that I enjoy the most is the people. I enjoy leading a team that I’m proud of, working alongside professionals who bring their best every day and continuing to learn from those I respect, including Marnie, who has been my mentor for over a decade. Each relationship adds a different dimension to my role, and together they create a work environment that’s collaborative, inspiring and constantly evolving. Being part of a team where everyone contributes and supports one another makes the work incredibly rewarding.
Concerning my core memories at LaSalle, it’s hard to pinpoint just one, because for me, it’s the accumulation of everyday moments that stand out. It’s the casual lunches with colleagues I don’t always get to work with and the spontaneous catch-ups in the pantry on random afternoons. It’s those once-in-a-blue-moon hangouts outside of work and the colleagues who genuinely ask how I’m doing and really mean it. These seemingly ordinary interactions have created a strong sense of connection with many people over the years. They are what make the experience of working at LaSalle feel so personal and fulfilling for me.
One piece of advice I would give to my younger self would definitely be to trust yourself more—and don’t be afraid to take up space. Looking back, I would tell my younger self that it’s okay not to have all the answers right away. Growth doesn’t always come with a clear path or perfect timing. What matters is showing up, doing the work with integrity and being open to learning, especially from those around you. I would also remind myself that it’s perfectly fine to speak up, to take the initiative and to step into opportunities even when they feel a little daunting. You don’t have to wait until you feel 100% ready. Sometimes, the best growth comes when you take that leap before you’re fully comfortable. And finally, enjoy the journey. The little wins, the good people, the lessons from setbacks, they all add up to something meaningful.
What first drew me to LaSalle was its global reputation as a successful real estate investor. I knew the Australian team was a tight knit group with a strong track record, and they were known as a practical, on the ground investor focused on real estate fundamentals.
Prior to joining LaSalle, I worked with the Real Assets team at a global bank. In this role, I provided coverage for various private equity groups in infrastructure and real estate, covering renewables, oil and gas, public private infrastructure, mining, and transport sectors. LaSalle was a client of the bank and well known to me. My first direct interaction with the Australian and Asia Pacific team at LaSalle occurred in 2021 when they were in the process of acquiring an industrial asset in Sydney.
My role primarily involves securing external debt for acquisition and refinancing purposes, as well as assisting with direct real estate acquisitions in Australia on behalf of clients and LaSalle funds. Over the past year, I have also been involved in the development of new products in the Australian market.
Since joining, I have progressed from Associate to Manager last year, and more recently this year to Vice President. I’ve seen a large shift in the macro environment, notably higher interest rates, declining valuations, and a challenging capital markets outlook. This has placed pressure on capital stacks and one of my main responsibilities has been to manage these positions within the existing portfolio, working closely alongside Australian and APAC teams.
On the acquisitions front, although more subdued, the team has been actively reviewing and pursing predominantly opportunistic transactions across all sectors, but with a particular focus on industrial and living strategies.
What first drew me to LaSalle was its global reputation as a successful real estate investor. I knew the Australian team was a tight knit group with a strong track record, and they were known as a practical, on the ground investor focused on real estate fundamentals.
My favorite aspect of the job is that at its heart, LaSalle is an entrepreneurial business, and it needs to be. We need think creatively and be smart, but be prudent in finding ways to generate performance. We also need to have ‘an ear to the ground’ and in a position to act quickly and with conviction. LaSalle is structured in a way that fosters this environment. You get access to senior decision makers, and you are encouraged to present and progress ideas. I like that real estate is a people business, driven by relationships, track records and experience. I feel lucky to be part of a company that values these qualities.
I’ve also had the opportunity to represent LaSalle on the Property Council of Australia’s National Real Estate Capital Markets Committee, which has been a great experience.
I am grateful for the experience, responsibilities and exposure my role has given me so far. Regarding what’s next, it’s anyone’s guess, but I know LaSalle offers several exciting potential career paths. I see big opportunities for the business going forward and believe there is potential to make a real impact here.
I like all things outdoors. I’m a big sailor – it’s a fantastic tactical and competitive team sport that I enjoy on evenings and weekends when time permits! We are lucky in Australia, with natural beauty and Sydney Harbour on the doorstep.
I joined LaSalle in 2008 and I am celebrating my 16-year anniversary this month. Time flies!
Before LaSalle, I worked in global finance and for a non-profit called the Japan Council on the UN Decade of Education for Sustainable Development. I was responsible for many financial tasks including accounting, payroll and financial administrative duties.
At that time, I worked three days per week, because I was raising two small children and wanted to spend time with them. I was introduced to LaSalle through a recruiting agency when my son was six years old. The Regional Finance team was looking for a person in Japan who would work part-time, and that matched with my wish to be at home with my children. I started with LaSalle in Corporate Finance in 2008 as an Associate, responsible for revenue recognition and general reporting.
When I joined, Asia Pacific Corporate Finance was small and new, there were two team members in Singapore, and only one in Japan. Even though we didn’t meet in person for some time, I appreciated the support I received my colleagues. We bonded with trust and friendship and worked well as a team.
Just after I started, the Global Financial Crisis affected our business and our assets under management (AUM) started to drop. Through those tough years, I remember our LaSalle Japan colleagues working hard to find new sources of investments. In 2013, though Japan AUM was still lower, we had more variety in our investments. I faced something new every year, taking on new challenges and opportunities. I worked with my manager to standardize policies for local finance, fee recognition, and cost recharges. On my five-year anniversary with LaSalle, I was promoted to Manager.
I did not expect that promotion because I was still working on a shorter schedule to balance my time with my children. However, I extended my work time in 2015, because our business grew, and Corporate Finance had more responsibility. LaSalle Logiport REIT was launched that year, and I covered our subsidiary company managing the REIT.
Shortly after, LaSalle internalized the financial activity, instead of outsourcing it. My manager asked me if I would like to be Head of Corporate Finance for Japan. I had enough experience; however, I declined the offer at that time. I was not confident I would be able to perform this job and have enough time with my family.
When I declined the offer, I worked with the local team and manager, and I sometimes dealt with challenges in my role. I did not always share my views openly and looking back I regretted not accepting the new position. This was a turning point for me. Four years later in 2019, I started to cover cash management and tax filing and was promoted to Vice President. In December, due to internal movements, I was again offered the role of Head of Corporate Finance. I was thrilled to get a second chance and accepted the offer.
I love working with my Corporate Finance team and our colleagues around the world. I have good colleagues in Japan and in Corporate Finance, and I see their perseverance even during tough times. It always encourages and motivates me to see how they take challenges with grace, and I am grateful to work with such people.
I joined JLL’s graduate scheme in 2019 at the London office. In the first rotation you do not have the opportunity to choose where you are placed, though in the subsequent rotations there is an element of choice, subject to business needs. I always had the aspiration to complete one of my rotations at LaSalle, so I completed a couple of courses in the industry during my first rotation to have a better chance to be selected for LaSalle in my second rotation. I was selected, and subsequently joined LaSalle in January 2021 for my second and final rotation, with the intention to rotate out in October.
As fate would have it, however, I started speaking to colleagues at LaSalle during my rotation and understanding their passion for the industry. I soon realized that this was what I wanted to do, and the part of the property industry that I am most passionate about. This month, I am starting full-time with LaSalle in Amsterdam, as a Senior Analyst and I couldn’t be happier.
When I joined JLL and LaSalle it was in part because, as global companies, we lean on so many professionals across the world who have a huge range of expertise, and both companies offer direct access to this expertise. How amazing is it that a company helps facilitate career movements across different countries to help employees learn more?
My favourite part or working at LaSalle has to be that there is always opportunity — to take on new work, learn about new sectors, and explore new ideas. I’ve had a lot of autonomy, but importantly if I or anyone else has new ideas, there’s respect and support from your managers to help you pursue them.
I’d like to have an opportunity to see the global headquarters in Chicago at some point in the future and how that differs from offices in Europe. Being able to see how the European experience differs from the American experience is something I’d love to learn.
Speaking of learning, I’m dyslexic, which is something I only learnt when I was 16. All my life before that, I just thought I wasn’t as intelligent as other people. I didn’t realize my brain worked in a different way to others, I would consistently receive low grades and was very disruptive. When I found out I was dyslexic, I realized there were different ways to learn that were suited to me, and suddenly I was achieving considerably higher results and went from the bottom to the top of my classes. That helped instill in me the view that we all learn differently, and I should be confident in myself and recognize my own abilities and the support I need to achieve my goals. I don’t think of dyslexia as a disability, but rather an opportunity to understand how my brain works to achieve what I want to achieve.
Being open out it has made a world of difference in life and at work. Realizing everybody works differently, for example, allows the team to accommodate different styles. Some people don’t speak up right away, or others don’t like to formulate their thoughts until they have a chance to reflect. It’s important to think outside of the status quo and create an environment where people can feel supported to work in ways that allow them to do their best. I always feel LaSalle works toward and values that perspective, and I feel comfortable and supported here, which I appreciate.
I think it’s going to be a great place to build my career.