HEIWA REAL ESTATE REIT Announces Approximately JPY 8 Billion Asset Replacement Involving Five Properties

HEIWA REAL ESTATE REIT, Inc. decided on October 27, 2026, to acquire four rental apartment buildings in Tokyo and Osaka and sell one rental apartment building in Tokyo in transactions with its sponsor, Heiwa Real Estate. The total scheduled acquisition price is JPY 8.02 billion, and the scheduled sale price is JPY 8.0 billion. The purchase and sale agreements were signed the same day.

The four properties to be acquired are ORSUS Shimura-Sakaue in Itabashi Ward (JPY 2.83 billion), HF Oshiage Residence II in Sumida Ward (JPY 890 million, together with the leasehold right to the land), ORSUS Nishi-Nippori in Arakawa Ward (JPY 1.14 billion) and ORSUS Shin-Osaka in Osaka (JPY 3.16 billion). ORSUS Nishi-Nippori and ORSUS Shin-Osaka will be delivered in November 2026, and ORSUS Shimura-Sakaue and HF Oshiage Residence II in April 2027. The three ORSUS-series properties will be renamed with the HF name after acquisition.

Of these, ORSUS Shimura-Sakaue is a 10-minute walk from Shimura-sanchome Station on the Toei Mita Line. Completed in 2025, the five-story building has 78 units, consisting of 57 1K units and 21 2LDK units. The REIT judged that the property is sufficiently competitive with nearby properties in terms of facilities and building age. The appraisal NOI yield on the scheduled acquisition price is 4.1%.

The property to be sold is HF Shirokane-Takanawa Residence in Takanawa 1-chome, Minato Ward. Completed in 2005, the 14-story building has 66 leasable units, and the REIT acquired it in September of that year. The REIT had been considering the timing of a sale because the property is located within an area under consideration for redevelopment and faces rising repair costs and the risk of declining rents. It will sell a 54.5% interest in November 2026 and the remaining 45.5% in March 2027, and it expects a gain on sale of JPY 4.44 billion. The appraisal NOI yield on the scheduled sale price is approximately 3.1%.

The REIT announced in July 2026 that it would acquire two rental housing properties in Edogawa Ward for JPY 2.8 billion and in September that it would acquire HF Akishima Ekimae Building, an office building in Akishima, for JPY 2.23 billion. After these transactions, its portfolio will total JPY 287.484 billion on an acquisition (scheduled) price basis, with offices accounting for 53.16% and residences for 46.84%.

Related Articles

• HEIWA REAL ESTATE REIT to Acquire Two Rental Housing Properties in Edogawa Ward, Tokyo
• HEIWA REAL ESTATE REIT To Acquire Office Building in Akishima for JPY 2.23 Billion

Acquisition Property Overview

• Property Name: ORSUS Shimura-Sakaue (to be renamed HF Shimura-Sakaue Residence after acquisition)
• • Seller: Heiwa Real Estate Co., Ltd.
  • Buyer: HEIWA REAL ESTATE REIT, Inc.
  • Scheduled Acquisition Price: JPY 2.83 billion
  • Appraisal NOI Yield: 4.1%
  • Contract Date: October 27, 2026
  • Scheduled Acquisition Date: April 2, 2027
  • Location: 4-33-2 Maenocho, Itabashi-ku, Tokyo
  • Nearest Station(s): 10-minute walk from Shimura-sanchome Station on the Toei Mita Line
  • Completion: February 2025
  • Number of Floors: 5F (reinforced concrete construction)
  • Leasable Units: 78 (1K: 57 / 2LDK: 21)
  • Area: Gross Floor Area of approximately 964 tsubo (approx. 34,300 sq. ft.)
  • Occupancy: 99.0% (area basis, as of August 31, 2026)
  • Property Management Company: Tokyu Housing Lease Corporation
  • Master Lease Company: Tokyu Housing Lease Corporation (pass-through)
• Property Name: HF Oshiage Residence II
• • Acquired Asset: Real estate (ownership of building, leasehold right to land)
  • Seller: Heiwa Real Estate Co., Ltd.
  • Buyer: HEIWA REAL ESTATE REIT, Inc.
  • Scheduled Acquisition Price: JPY 890 million
  • Appraisal NOI Yield: 4.6%
  • Contract Date: October 27, 2026
  • Scheduled Acquisition Date: April 2, 2027
  • Location: 5-4-6 Mukojima, Sumida-ku, Tokyo
  • Nearest Station(s): 12-minute walk from Oshiage Station on the Tokyo Metro Hanzomon Line, Toei Asakusa Line and Keisei Oshiage Line / 13-minute walk from Tokyo Skytree Station on the Tobu Isesaki Line
  • Completion: September 2026
  • Number of Floors: 7F (reinforced concrete construction)
  • Leasable Units: 19 (2LDK: 19)
  • Area: Gross Floor Area of approximately 373 tsubo (approx. 13,300 sq. ft.)
  • Land Lease Term: October 31, 2024 to October 30, 2054
• Property Name: ORSUS Nishi-Nippori (to be renamed HF Nishi-Nippori Residence after acquisition)
• • Seller: Heiwa Real Estate Co., Ltd.
  • Buyer: HEIWA REAL ESTATE REIT, Inc.
  • Scheduled Acquisition Price: JPY 1.14 billion
  • Appraisal NOI Yield: 4.0%
  • Contract Date: October 27, 2026
  • Scheduled Acquisition Date: November 27, 2026
  • Location: 6-26-11 Nishi-Nippori, Arakawa-ku, Tokyo
  • Nearest Station(s): Five-minute walk from Shin-Mikawashima Station on the Keisei Main Line
  • Completion: June 2021
  • Number of Floors: 8F (reinforced concrete construction)
  • Leasable Units: 24 (1K: 13 / 2LDK: 11)
  • Area: Gross Floor Area of approximately 338 tsubo (approx. 12,000 sq. ft.)
  • Occupancy: 100% (area basis, as of August 31, 2026)
  • Property Management Company: Tokyu Housing Lease Corporation
  • Master Lease Company: Tokyu Housing Lease Corporation (pass-through)
• Property Name: ORSUS Shin-Osaka (to be renamed HF Shin-Osaka Residence after acquisition)
• • Acquired Asset: Real estate trust beneficiary interest
  • Seller: Heiwa Real Estate Co., Ltd.
  • Buyer: HEIWA REAL ESTATE REIT, Inc.
  • Scheduled Acquisition Price: JPY 3.16 billion
  • Appraisal NOI Yield: 4.0%
  • Contract Date: October 27, 2026
  • Scheduled Acquisition Date: November 27, 2026
  • Location: 1-19-15 Miyahara, Yodogawa-ku, Osaka, Osaka Prefecture
  • Nearest Station(s): Four-minute walk from Higashi-Mikuni Station on the Osaka Metro Midosuji Line / Five-minute walk from Shin-Osaka Station on the Osaka Metro Midosuji Line, JR Kyoto Line, Osaka Higashi Line and Shinkansen
  • Completion: March 2021
  • Number of Floors: 15F (reinforced concrete construction)
  • Leasable Units: 84 (1DK: 28 / 1LDK: 56)
  • Area: Gross Floor Area of approximately 1,166 tsubo (approx. 41,500 sq. ft.)
  • Occupancy: 95.5% (area basis, as of August 31, 2026)
  • Property Management Company: Haseko Livenet, Inc.
  • Master Lease Company: Haseko Livenet, Inc. (pass-through)
  • Trustee: Mizuho Trust & Banking Co., Ltd. (scheduled)

Disposition Property Overview

• Property Name: HF Shirokane-Takanawa Residence
• • Seller: HEIWA REAL ESTATE REIT, Inc.
  • Buyer: Heiwa Real Estate Co., Ltd.
  • Scheduled Sale Price: JPY 8.0 billion (54.5% interest: JPY 4.36 billion / 45.5% interest: JPY 3.64 billion)
  • Book Value: JPY 3.506 billion
  • Expected Gain on Sale: JPY 4.44 billion
  • Appraisal NOI Yield (based on scheduled sale price): Approx. 3.1%
  • Contract Date: October 27, 2026
  • Scheduled Sale Date: November 27, 2026 (54.5% interest) / March 29, 2027 (45.5% interest)
  • Location: 1-2-6 Takanawa, Minato-ku, Tokyo
  • Nearest Station(s): Approximately two-minute walk from Shirokane-takanawa Station on the Toei Mita Line
  • Completion: August 2005
  • Number of Floors: 14F (steel-reinforced concrete construction)
  • Leasable Units: 66
  • Area: Gross Floor Area of approximately 1,598 tsubo (approx. 56,900 sq. ft.)
  • Occupancy: 96.5% (as of May 2026)
  • Property Management Company: Tokyu Housing Lease Corporation