In 2010, APL leveraged its real estate expertise to add value to the iconic Tiffany Building, built in 1987 and renovated by renowned architect Kengo Kuma. The acquisition was facilitated by a European bank with whom APL has a strong relationship.
Located on the Ginza strip, Japan’s premier luxury commercial district, the 10-story building houses a flagship store of Tiffany & Co., a restaurant in the basement, and offices on the upper levels. APL recognized the opportunity to reduce property expenses and lease-up significant existing vacancies on the office floors at higher rents, capitalizing on the strong brand and image of the building. APL was able to take the office occupancy from 53% to 100%, while also achieving an increase in rental rates.
Location Tokyo, Japan
Property Type Retail/Office
Property Size 5,870 square meters
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