Heiwa Real Estate REIT To Acquire Three Office Properties for About JPY 13.4 Billion

Heiwa Real Estate REIT Investment Corp. decided on May 18, 2026, to acquire three office properties in Japan. The planned acquisition price totals approximately JPY 13.418 billion. The planned acquisition date is June 3, 2026, for HF Ueno Inaricho Building and HF Kita-Jujo Building, and June 5, 2026, for HF Chiba Fujimi Building.

HF Ueno Inaricho Building is an office building completed in 1992, located a four-minute walk from Inaricho Station on the Tokyo Metro Ginza Line and an 11-minute walk from JR Ueno Station. The property has a typical floor plate of approximately 230 tsubo (approx. 8,200 sq. ft.) and can accommodate subdivided leasing. Common areas were renovated and exterior wall repairs were completed in 2025. Occupancy was 100% as of the end of March 2026, while the rent gap was negative 24.6%, suggesting room for future rent growth.

HF Kita-Jujo Building is a recently completed office building delivered in 2024, located a five-minute walk from JR Sapporo Station and a three-minute walk from Kita 12-jo Station on the Sapporo Municipal Subway Namboku Line. The seller is sponsor Heiwa Real Estate. Multiple redevelopment projects are underway around Sapporo Station, and Heiwa Real Estate is also participating in redevelopment in the area. The investment corporation decided to acquire the property in anticipation of future growth. （see related article:Heiwa Real Estate Names Sapporo Mixed-Use Redevelopment “SAPPORO ONE,” Featuring Park Hyatt Hotel）

HF Chiba Fujimi Building is an office building completed in 1982, located an eight-minute walk from JR Chiba Station and a three-minute walk from Keisei Chiba-Chuo Station. The property is in the central business and commercial district of Chiba City. Common-area renovation work and other upgrades have been carried out, and the building has sufficient floor area, with a typical floor plate of approximately 182 tsubo (approx. 6,500 sq. ft.), while also accommodating subdivided leasing. Its NOI yield is 6.5%, the highest among the three properties. By combining Tokyo properties with offices in regional core cities and suburban areas, the investment corporation aims to improve the profitability of its overall portfolio.

Key Facts

• Buyer: Heiwa Real Estate REIT Investment Corp.
• Total Planned Acquisition Price: JPY 13.418 billion
• Total Appraised Value: JPY 15.3 billion
• Property Name: HF Ueno Inaricho Building, formerly Ueno East Building
• • Seller: Undisclosed
  • Planned Acquisition Date: June 3, 2026
  • Planned Acquisition Price: JPY 9.06 billion
  • Appraised Value: JPY 10.1 billion, as of April 1, 2026, Daiwa Real Estate Appraisal
  • Appraisal NOI Yield: 4.1%
  • Location: 1-3-5 Matsugaya, Taito Ward, Tokyo
  • Nearest Stations: Four-minute walk from Inaricho Station on the Tokyo Metro Ginza Line / nine-minute walk from Shin-okachimachi Station on the Toei Oedo Line / 11-minute walk from Ueno Station on the JR Yamanote Line
  • Completion: October 1992
  • Number of Floors: 8F / B1, steel and steel-framed reinforced concrete construction
  • Area: Gross Floor Area of approximately 2,568 tsubo (approx. 91,400 sq. ft.) / typical floor plate of approximately 230 tsubo (approx. 8,200 sq. ft.)
  • Occupancy, by area: 100%, as of March 31, 2026
• Property Name: HF Kita-Jujo Building, formerly Noblesse Sapporo
• • Seller: Heiwa Real Estate Co., Ltd.
  • Planned Acquisition Date: June 3, 2026
  • Planned Acquisition Price: JPY 1.758 billion
  • Appraised Value: JPY 1.95 billion, as of April 1, 2026, Daiwa Real Estate Appraisal
  • Appraisal NOI Yield: 4.1%
  • Location: 1-1 Kita 10-jo Nishi 3-chome, Kita Ward, Sapporo, Hokkaido
  • Nearest Stations: Five-minute walk from JR Sapporo Station / three-minute walk from Kita 12-jo Station on the Sapporo Municipal Subway Namboku Line
  • Completion: March 2024
  • Number of Floors: 7F, reinforced concrete construction
  • Area: Gross Floor Area of approximately 498 tsubo (approx. 17,700 sq. ft.) / typical floor plate of approximately 59 tsubo (approx. 2,100 sq. ft.)
  • Occupancy, by area: 75.1%, as of March 31, 2026
• Property Name: HF Chiba Fujimi Building, formerly IMI Chiba Fujimi Building
• • Seller: Undisclosed
  • Planned Acquisition Date: June 5, 2026
  • Planned Acquisition Price: JPY 2.6 billion
  • Appraised Value: JPY 3.25 billion, as of April 1, 2026, Daiwa Real Estate Appraisal
  • Appraisal NOI Yield: 6.5%
  • Location: 2-15-11 Fujimi, Chuo Ward, Chiba City, Chiba Prefecture
  • Nearest Stations: Eight-minute walk from JR Chiba Station / three-minute walk from Chiba-Chuo Station on the Keisei Electric Railway / three-minute walk from Yoshikawa-koen Station on the Chiba Urban Monorail
  • Completion: July 1982
  • Number of Floors: 9F, steel-framed reinforced concrete and steel construction
  • Area: Gross Floor Area of approximately 2,086 tsubo (approx. 74,200 sq. ft.) / typical floor plate of approximately 182 tsubo (approx. 6,500 sq. ft.)
  • Occupancy, by area: 89.5%, as of March 31, 2026