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Tosei Reit Investment Corp. To Acquire Rental Apartment Property in Izumi Ward, Yokohama

MultifamilyTransaction

Tosei Reit Investment Corp. To Acquire Rental Apartment Property in Izumi Ward, Yokohama

Tosei Reit Investment Corp. To Acquire Rental Apartment Property in Izumi Ward, Yokohama

Tosei Reit Investment Corp. has decided to acquire “TR Garden Yokohama Nakada,” a rental apartment property in Izumi Ward, Yokohama. The planned acquisition price is JPY 670 million, and the appraised NOI yield is 5.06%. The acquisition is scheduled for May 29, 2026.

The property is a six-story reinforced concrete rental apartment building located approximately a four-minute walk from Nakada Station on the Yokohama Municipal Subway Blue Line. It was completed in May 2004. The property has a Gross Floor Area of approximately 598 tsubo (approx. 21,281 sq. ft.), 24 tenants and an occupancy rate of 100%. Its current name is “N-flats Yokohama Nakada,” and it will be renamed after the acquisition. Tateba Station on the same line is also about a 10-minute walk away, and Nakada Station provides strong access to central Yokohama, with JR Yokohama Station reachable in about 20 minutes via a transfer at Totsuka Station. The surrounding area offers a favorable residential environment, with daily amenities such as elementary schools, clinics and a post office located within a 10-minute walk.

After the acquisition, the investment corporation’s portfolio will comprise 64 properties, with a total acquisition price of approximately JPY 84.4 billion. The lease structure will be a pass-through master lease agreement, with Mitsui Home Estate serving as both the master lease company and property manager.

Key Facts

  • Property Name: TR Garden Yokohama Nakada (Current Name: N-flats Yokohama Nakada)

  • Buyer: Tosei Reit Investment Corp.

  • Seller: Undisclosed domestic corporation

  • Planned Acquisition Price: JPY 670 million

  • Appraised Value: JPY 701 million (JLL Morii Valuation & Advisory, as of March 31, 2026)

  • NOI Yield: 5.06%

  • Annual Rent: JPY 43 million

  • Location: 4-5-9 Nakata-Minami, Izumi Ward, Yokohama, Kanagawa Prefecture

  • Nearest Station: Approximately four-minute walk from Nakada Station on the Yokohama Municipal Subway Blue Line

  • Completion: May 2004

  • Number of Floors: 6F

  • Structure: Reinforced concrete

  • Gross Floor Area: Approximately 598 tsubo (approx. 21,281 sq. ft.)

  • Number of Tenants: 24

  • Occupancy Rate: 100%

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