Hiro-o Building
Project
![](https://en.triad.company/wp/wp-content/uploads/2023/07/hiroo_main.jpg)
Project Overview
Here is an example where we improved the value of a property through various corrective modifications as well as renovations and leasing fee negotiations over the long term.
Although located in an attractive spot just a four-minute walk from Hiro-o Station, this commercial building was generally experiencing low market liquidity because it required many repairs and had exceeded its capacity due to modifications by tenants.
TRIAD acquired the property then negotiated new leasing fees with the current tenants and performed repairs. We also continuously renovated the private units in a way that would appeal to our desired occupants. As a result, the building became legally compliant and we succeeded in improving the property’s value while increasing the average rent per unit area by roughly 44% in the three-year period since acquisition. We then raised ¥450 million through the real-estate crowdfunding service COZUCHI to perform continuous repairs and negotiate with tenants. This allowed us to increase the average rent per unit area by about 61% compared to when we first acquired the building.
We are currently holding onto the property as we wait for the best time to sell it.
![](https://en.triad.company/wp/wp-content/uploads/2023/07/hiroo01.jpg)