Daiwa House Industry Acquires Rental Apartment Building in Fukuoka’s Minami Ward

Daiwa House Industry has acquired a rental apartment building in Mukaino 2-chome, Minami Ward, Fukuoka City. The seller was LRO Co., Ltd. The property is about a seven-minute walk from Ohashi Station on the Nishitetsu Tenjin Omuta Line and is a seven-story, steel-reinforced concrete (SRC) building completed in April 1988. The Gross Floor Area totals approximately 944 tsubo (approx. 33,591 sq. ft.).

In 2021, Daiwa House Industry announced its entry into the acquisition and value-add repositioning business for existing buildings. Under this strategy, the company acquires older office and multifamily assets, executes large-scale renovations, and then sells the upgraded properties to REITs and funds, with a stated goal of reaching JPY 30.0 billion in revenue within five years. While this asset is 37 years old, it is located in the Ohashi area—where land values have continued to rise—suggesting the acquisition is part of the company’s repositioning program.

The Ohashi area continues to develop as a secondary urban center within Fukuoka’s Minami Ward. In April 2025, the mixed-use commercial facility “OHASHI HILL” opened in front of the station, strengthening the district’s retail offerings. In addition, the 2025 officially assessed land price around Ohashi Station rose 8.98% year over year—outpacing the ward average—underscoring the area’s longer-term upward trend in land values.

Key Facts

• Property Name: Corso Ohashi

• Buyer: Daiwa House Industry Co., Ltd.

• Seller: LRO Co., Ltd.

• Location: 2-2-1 Mukaino, Minami Ward, Fukuoka City, Fukuoka Prefecture

• Access: Approx. 7-minute walk from Ohashi Station (Nishitetsu Tenjin Omuta Line)

• Completion: April 1988

• Number of Floors: 7F / B0 (Structure: SRC)

• Gross Floor Area: approx. 944 tsubo (approx. 33,591 sq. ft.)