Track record: Value enhancement of office buildings

We systematically make strategic capital expenditures that lead to increased property value and internal growth.

Yokohama City, Kanagawa Prefecture: Offices

• We selected and acquired an old building (built in 1983) with the potential of becoming more competitive and valuable through improvements including renovation of its common-use areas thanks to its favorable location. Our decision was based on an accurate understanding of the area's characteristics as well as the strengths and weaknesses of the city's market.
• In cooperation with a Mitsui Fudosan Group design company and property management companies, we drew up an effective and efficient renovation plan that will lead to increased property value and implemented it at an early date.
• We conducted sales activities targeting about 30 companies and were able to sell the property at a price that was at least 30% higher than our acquisition price. We achieved returns that far exceeded our target internal rate of return (IRR) for the short (18 months) term of management.