Joji Thomas has a combined 24 years of experience in auditing, investment banking and real estate fund management.
Chartered accountant by training and has been involved in real estate fund management in Asia Pacific region covering 6 markets, spanning investments in Core, Core Plus, Value Add and Opportunistic investments, and executed deals worth USD 3.2 billion in 23 deals over 16 years

Joined Baring Private Equity Asia (BPEA) as a Principal in September 2011 to head investments for Value Add and Opportunistic space in 5 markets. Joji was one of the founding members of the BPEA’s Real Estate business. Was involved in fund raising activities for BPEA RE Fund 1 for USD 365 million and BPEA RE Fund 2 for USD 1 billion

Prior to BPEA Asia, Joji was with Pramerica, subsidiary of Prudential USA for 8 years. Was involved in equity investments and mezzanine debt transactions for Core, Value Add, Opportunistic and Separate Accounts.

In April 2019, Joji formed Azara Advisors Pte. Ltd. Azara provides real estate investment advisory services across Asia Pacific for institutional clients, from core to opportunistic and including development and both debt and equity financing.  Azara’s advisory business is focused on 5 core markets: Australia, India, Malaysia, Singapore and South Korea.

Major transactions Joji has handled in last 16 years:

• Acquired 595 Collins Street in Melbourne for AUD 138 million which was sold in 2019 for 29% IRR
  
• Acquired 50% interest in Ark in North Sydney for AUD 113 million, 25% was sold in 2018 for 22% IRR
  
• Acquired Seoul City Tower in Seoul in 2003 for KRW 152 billion and subsequently disposed for KRW 329 billion, realizing an IRR of 29%
  
• Acquired Hansol Building (renamed as Capital Tower) in Seoul for KRW 156 billion and subsequently disposed for KRW 430 billion, realizing an IRR of 61%
  
• Developed Trutec Building in Seoul for KRW 44 billion and subsequently disposed for KRW 54 billion
  
• Acquired Twin Tree Building in Seoul for KRW 310 billion and subsequently disposed for KRW 407 billion, realizing an IRR of 19%
  
• Acquired a portfolio of 3 suburban malls in Malaysia with total GFA of 2.33 million sq ft for MYR 340 million; Divested for KRW 420 million
  
• Acquired a Greenfield development site for the development of a suburban mall of 618,000 sq ft in Singapore for SGD 1.3 billion. 50% divested to CIC in November 2010 and balance 50% to SLF and NTUC Income in 2012
  
• Acquired a Greenfield development site for the development of a mixed-use project in Singapore consisting of 610 apartment units and a 468,500 sq ft suburban mall. Total project cost was SGD 865 million. Residential units have been disposed at an IRR of 16% and mall was sold to the existing partners realizing an IRR of 18%
  
• Invested USD 193 million in India for mezzanine investments in residential, office and retail sectors in 11 deals generating an IRR between 12.5% and 14%
  
• Invested in a Mezzanine deal in Seoul for USD 34 million and exited at 24% IRR
  
• Invested in a Value-Add deal in Manila for USD 60 million (50% local leverage), exited at 31% IRR. Was involved in AEI activities post acquisition