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Alignment of Interests
Successful investments begin with clear alignment between investors, sponsors, and operating partners.
ABOUT GEMMA CAPITAL GROUP
Boutique by Design.
Global by Experience.
Gemma Capital Group is a New York-based boutique real estate investment banking and advisory firm connecting global investors with leading sponsors, developers, and strategic real estate opportunities across the United States and internationally.
Founded in 2007, with offices in New York and Tokyo, Gemma structures strategic partnerships and real estate transactions through disciplined execution, cross-border expertise, and long-term relationships.
We work with institutional investors, family offices, private capital partners, developers, and sponsors seeking strategic capital solutions and transaction advisory support.
Since 2007
Connecting Global Capital with the Right Opportunities.
2007
Founded in New York as a boutique real estate investment and advisory firm, focused on select partnerships and disciplined execution.
2015
Expanded investor base to include global capital partners, structuring joint ventures with leading U.S. sponsors and operators.
2020
Established Tokyo presence, strengthening relationships with Japanese institutional investors and expanding cross-border activity.
2026
Active across the United States, Europe, and Asia, connecting global investors with sponsors, developers, and strategic real estate opportunities through long-term relationships.
Our Approach
Principles That Guide Every Investment
Gemma approaches every transaction with discipline, alignment, and a long-term partnership mindset. These principles guide how opportunities are sourced, evaluated, structured, and advanced through each stage of the investment process.
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Transparency
Clear structures, defined governance, and consistent communication throughout the investment lifecycle.
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Long-Term Partnerships
Relationships built across multiple transactions, focused on continuity and trust.
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Selectivity
We focus on a limited number of opportunities where careful structuring can create lasting value.
Disciplined Approach.
From sourcing to closing, every stage of the process is approached with precision, discipline, and attention to detail.
Global Perspective
Cross-border experience combined with local market insight to support clarity, alignment, and informed decision-making.
A Different Approach to Real Estate Investing
Conventional Approach
Broad market deal sourcing.
Volume over selectivity
Late capital involvement
Limited alignment between parties
Transaction-focused relationships
The Gemma Approach
Select off-market opportunities
Selective, quality-focused approach
Early structuring involvement
Clear investor-sponsor alignment
Long-term partnerships focus
Leadership Team
Experienced Professionals. Global Insight. Personal Commitment.
Gemma Capital Group brings together professionals with experience across real estate investment, strategic partnerships, and cross-border capital relationships.
Dorota Applebaum
Founder & Principal
Dorota Applebaum has over 20 years of experience in real estate investment and investment banking. She has led transactions across the United States and Europe involving more than 8,000 residential units, as well as hospitality, retail, office, development, and mixed-use projects. She is recognized for creative structuring, disciplined execution, and long-standing relationships with leading investors, developers, sponsors, and capital partners. Dorota holds an MBA from NYU Stern School of Business and is also leading the redevelopment of the historic Mitigliano Estate in Tuscany, Italy.
Christopher Kazmierski
Managing Director, U.S.
Christopher Kazmierski focuses on U.S. investment advisory, working with operators and sponsors on acquisitions, asset repositioning, and capital structure. He brings over 15 years of commercial real estate investment and capital markets experience, including his prior role as Vice President and Head of Multifamily Investments at C.V. Starr. Christopher is fluent in Mandarin, reflecting time spent at the University of International Business and Economics in Beijing, a distinct asset in Gemma's cross-border work. He holds a Bachelor of Science in Finance from Saint Louis University.
Warren Wadud
Managing Director, Asia
Warren Wadud leads Gemma’s activities in Asia, connecting Japanese capital with U.S. real estate opportunities. Based in Tokyo and fluent in Japanese, he brings more than 20 years of experience across commercial real estate, tenant leasing, and cross-border investment advisory. Warren previously advised leading retail brands on major leasing assignments, including Mitsui Fudosan’s Tokyo Midtown Roppongi project, and later focused on introducing Japanese and Asian investors to U.S. commercial real estate. He holds a degree from New York University, completed commercial real estate studies at Baruch College’s Zicklin School of Business, graduated from Keio University’s Japanese Language Studies Program, and is a licensed real estate professional in New York.
Akira Koyabu
Senior Advisor, Investment Sales
Akira Koyabu brings more than 40 years of experience in Japan's commercial real estate industry, with deep relationships among institutional investors, family offices, private clients, and leading brokerage firms. Based in Osaka, he supports Gemma's activities in Japan by connecting investors with U.S. real estate opportunities and leveraging a network built over decades across Japan and Singapore. Prior to his work in investment sales, Akira served as a senior manager at Aoki Construction Corp., where he gained extensive experience in property development, planning, and project execution. He also spent ten years in Singapore overseeing private-sector and government-sponsored development projects, providing valuable regional insight and trusted relationships that support Gemma's cross-border advisory platform.