From Classroom to Capital Markets: How Studying Real Estate in Japan Shaped My Global Perspective

Studying abroad in Japan was one of the most meaningful academic experiences of my Master of Science in Real Estate (MSRE) program. Traveling through Tokyo, Osaka, and Kyoto allowed me to connect what I had learned in class to real-world examples while also gaining a deeper understanding of how culture, business practices, and urban development influence global real estate markets. Being able to study in the mornings and then explore the cities in the afternoons made learning feel more active and personal, rather than limited to a traditional classroom setting.

Academic Lessons Beyond the Classroom

One of the most important lessons I learned was how strongly local context shapes real estate capital markets. In the classroom, financial models and investment strategies can sometimes feel universal. However, being in Japan showed me how zoning regulations, land scarcity, and cultural priorities directly influence development and investment decisions. Tokyo’s dense and highly efficient urban layout helped me better understand how limited space can drive innovation in logistics and mixed-use developments.

I also learned the value of long-term thinking in real estate investment. Japanese business culture places a strong emphasis on stability, reputation, and sustainable growth rather than short-term financial gains. This perspective challenged the more fast-paced and return-driven mindset that is often discussed in U.S.-based markets and encouraged me to think more critically about how value is created over time.

Another key takeaway was the importance of communication in international business. Professional interactions in Japan tend to be more formal and indirect, which made me more aware of how tone, body language, and respect play a role in building trust. These are skills that go beyond technical knowledge and are essential for working with global partners and international investors.

Real Estate Capital Markets in a Global Context

The Real Estate Capital Markets course became much more meaningful once I could see global markets firsthand. Learning about institutional investors, capital flows, and logistics real estate while visiting major business districts in Tokyo and Osaka helped me better visualize how theory translates into practice.

Walking through different neighborhoods and commercial areas allowed me to observe how property values, land use, and infrastructure vary across cities. These experiences strengthened my ability to analyze markets not only through financial data, but also through social, cultural, and economic conditions. This broader perspective is something I plan to apply in my future career, especially when working on projects that involve international investment or cross-border real estate activity.

Company Visit: Prologis in Osaka

Our visit to the Prologis office in Osaka was one of the most impactful parts of the program. It provided a direct connection between what we were learning in class and how global real estate companies operate in practice. Seeing how Prologis manages and builds logistics facilities in Japan showed me how international firms adapt their strategies to meet local regulations, market demands, and cultural expectations.

I was also impressed by how advanced Japan’s logistics infrastructure is, especially in terms of site planning and operational efficiency. This visit helped me better understand how logistics real estate plays a key role in both local economies and global supply chains.

Cultural Experiences and Daily Life

Outside of academics, everyday life in Japan added another layer to my learning experience. One of my favorite discoveries was the food. Even though I did not really like sushi before this trip, I ended up really enjoying it, especially kaiten-zushi (or conveyor belt sushi) which made trying new dishes fun and approachable. I also discovered ramen, which quickly became one of my favorite meals during the program.

I noticed clear differences in professional and social behavior. Business attire tended to be more formal, communication was more polite and structured, and customer service in stores and restaurants was consistently attentive and respectful. These observations helped me better understand how cultural values influence both business interactions and daily routines. Overall, I was very impressed with Japanese culture.

Tips for Visiting and Doing Business in Japan

1. Dress conservatively and professionally in business settings.

2. Be punctual, as timeliness is highly valued. Japanese punctuality means being there 5 minutes early and everything else is somewhat considered ‘’late’’.

3. Learn a few basic phrases to show respect and effort.

4. Follow formal etiquette, especially when meeting professionals.

5. Be mindful of your behavior in public spaces and keep noise levels low.

Reflection and Personal Growth

Choosing to study abroad came with challenges, including adjusting to a new language, managing travel logistics, and stepping outside of my comfort zone. However, working through these challenges helped me become more independent and confident in unfamiliar situations.

Overall, Japan has become one of my favorite countries I have visited, not only because of the cities and food, but because of how much the experience contributed to my academic and professional development. This program strengthened my global mindset and gave me a deeper appreciation for how real estate connects culture, business, and communities across different parts of the world. I return to my studies at USD with a stronger foundation and a clearer understanding of the role real estate plays on a global scale.

-Alex Kramer ’26