Native name 森トラスト株式会社 Founded 10 June 1970 Parent organization Mori Trust Holdings Inc. | Area served Japan Headquarters Minato | |
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Industry Real estate development Predecessor Mori Building Development Co., Ltd. (1970 - 1999) Key people Akira Mori (President & CEO) Services Real estate development, Office leasing Subsidiaries NIHON ESLEAD CORPORATION, URBAN LIFE | ||
Mori Trust Co., Ltd. (森トラスト株式会社, Mori Torasuto Kabushiki Gaisha) is a Japanese real estate developer.
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History
Mori Trust was founded in 1970 as Mori Building Development, a subsidiary of the Mori Building group founded by Taikichiro Mori. Following his death in 1993, his two sons Minoru Mori and Akira Mori disagreed as to how to continue the business, with Minoru wishing to continue the company's focus on existing properties and new large-scale urban projects, and Akira wishing to expand the company's portfolio into more small-scale office and leisure properties. This led to a split of the Mori Building group, with Akira Mori taking over the Mori Building Development entity and renaming it "Mori Trust" in 1999. Mori Trust properties that predated the 1999 schism were originally named "Hills" or "Mori Building" but were renamed to "Trust Tower" or "MT Building" around 2002. Mori Building, which spent years planning and completing the Roppongi Hills complex in central Tokyo, focuses on multibillion-dollar complexes; Mori Trust sticks to single or twin structures.
Mori has reportedly selected his daughter Miwako Date, who serves as president of Mori Trust Hotels & Resorts, to eventually take over the Mori Trust business.
Mori Trust announced in December 2015 that it would begin investing in the United States, starting with the $658 million acquisition of two office buildings in Boston from Liberty Mutual. The company was also reportedly examining potential investments in New York, Washington and other East Coast cities, with a total budget of 100 to 200 billion yen.