Reviving Japan’s vacant properties — with architecture, capital, and operations under one roof.
Combining Real Estate Revitalization and Funds to Create New Futures for Properties and Communities.
We find the buildings Japan has left behind — vacant homes, traditional farmhouses, shuttered corporate retreats — and bring them back to life as places
people travel for. From sourcing and design to fund structuring, operations and exit, everything is done in-house.
Every empty building is a community waiting to happen.
We start with what a place actually needs, then use design and capital to make it real.
Three capabilities, one team — we find it, we fund it, we rebuild it.
PLANNING
We find underused properties and design what they should
become — the use, the guest, the economics.
CAPITAL
We structure the funds that finance these projects,
opening real estate to individual investors.
RENOVATION
Our in-house architects take each project from first drawing to completion.
Limbs Capital by the Numbers
Established
2016
Funds Structured
42
Nationwide Coverage
47 Prefectures
Distribution Yield
Range
6〜10%
Total Capital Raised
Approx.¥3.0Billion
Regional Revitalization
Projects
Approx. 30
Licenses
Licensed and registered in Japan for the full scope of our business.
PROJECTS
We turned a former corporate retreat in Sengokuhara, Hakone — a two-story steel-frame building — into a members-only villa taken by one group a day, with a woodburning stove, natural hot spring and sauna. We handled planning, design and operations, and it opened in spring 2023 after about nine months of construction, in a quiet corner of Hakone’s mountain villa district.
The second project on the same Sengokuhara site as &album, once the retreat of a major corporation. We reopened it as &EN Hakone Sengokuhara, with living space, coworking space, a sauna and a terrace, taking both overnight guests and studio rentals for workation use. Renovation is complete and the property is in operation.
A hotel of more than forty years in the Lake Nojiri–Myoko area of Shinano, Nagano. Rather than demolish it, we renovated the building as it stood: Hajikami led planning and design, and PLAY&co runs the property. It opened in April 2026 as HOTEL&SAUNA WAYPOINT SHINANO-MYOKO, a base for guests exploring the region’s nature and outdoors.
Working with Limbs Co., Ltd., we renovated a condominium unit in Minami-Azabu, Minato-ku — a rare address in one of central Tokyo’s most prestigious residential districts, among embassies and private homes. New interiors and fixtures lifted rental demand and income, and with them the value of the asset.
A retail-and-residential building in Maeshima, Naha, close to Kokusai Street and about six minutes on foot from Miebashi Station on the Yui Rail. We renovated the whole building to strengthen rental income and raise the value of the asset, in a district with steady tourism demand. The project was structured as a six-month fund.
A closed single-story wooden beach house on the Sea of Japan coast at Izumozaki, reopened as a secluded seaside retreat for two groups a day, with an earthbag sauna built from soil and sand. Adventure Trip Co., Ltd., an established local operator, runs it on a fixed rent. The project was structured as first- and second-phase funds, both now closed.
In Toma, Hokkaido, where forestry and farming are the main industries, we restored an old wooden farmhouse of 111 square meters on a 1,576-square-meter plot surrounded by rice fields. The ground floor became a café and the upper floor guest rooms lined with cedar. It opened in July 2021 as Retreat Village Toma and now operates as Koti Private SAUNA Cottage, with an earthbag sauna looking out over the mountains — water play in summer, snow diving in winter.
A small traditional house and its surrounding woodland in Chiba City, enclosed by bamboo groves and satoyama countryside. Funded by the third BATSUNAGU fund, launched in January 2022 for a one-year term, the project left the satoyama landscape intact and reopened the site as a place to farm, to learn from the people who live there, and to pass what they know to the next generation.
Idle land in the forests of Otawara, Tochigi, where a much-loved soba restaurant had closed and several former corporate lodges stood empty. We have rebuilt the site in stages as NASU SATOYAMA FIELD — shops, lodges, a campground and saunas among the trees — through a series of funds covering the woodland and the restaurant building. Its café, STOVE, has been covered in the local Shimotsuke Shimbun.
A private villa in Onna, Okinawa, close to the Blue Cave — one of the island’s best-known diving spots — and surrounded by some of the clearest water on Okinawa’s main island. We converted an idle property into accommodation for a marine resort area with steady lodging demand.
An area-wide project on aging Japanese-style guesthouses in Madarao Kogen, on the Nagano–Niigata border. As the second of our Base Development regional funds, we converted them from short-stay guesthouses into serviced apartments for long stays by international visitors, in a ski area whose snow rivals Niseko and Hakuba, and ran events to draw guests through both the snow and green seasons.
LIMBS CAPITAL SERVICES
Each project becomes a business we run — the funding platform, the sourcing platform, and the destinations themselves.
Real estate crowdfunding that lets investors participate in revitalizing vacant and underutilized properties from as little as ¥10,000.
A real estate investment matching platform introducing off-market properties tailored to each investor.
A former corporate retreat in the Nasu area of Otawara, Tochigi, reopened as a nature-focused complex with a café, accommodation and campground.
A private whole-property accommodation in Sengokuhara, Hakone, for up to 20 guests, complete with a sauna and karaoke.
A premium membership garage for storing motorcycles and cars on a monthly subscription basis.
A year-round destination in the Lake Nojiri and Myoko area, offering authentic sauna experiences and comfortable guest rooms.
MANAGEMENT
Chairman & Representative Director
Founder of the Limbs Group. Built its regional revitalization and real estate businesses from the ground up.
President & Representative Director
Hiroki Mihira is both a licensed first-class architect and a real estate fund professional — the two disciplines this company runs on. He managed assets at private fund and J-REIT management companies, including Diamond Realty Management Inc. of the Mitsubishi Corporation group, before joining Limbs Capital.
Limbs Capital
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