Japan Metropolitan Fund to Sell Three Osaka Rental Apartment Buildings for JPY 5.9 Billion

Japan Metropolitan Fund Investment Corporation announced on October 21, 2026, that it will sell three rental apartment buildings in Osaka, JMF Residence Sakuranomiya, JMF Residence Miyakojima and JMF Residence Tenjinbashisuji 6-chome, for a total of JPY 5.9 billion. The buyers are several domestic GKs whose names have not been disclosed. Delivery is scheduled for March 5, 2027.

JMF Residence Sakuranomiya, located in Nakanocho, Miyakojima-ku, is an 11-story building completed in 2023 with 119 units, all 1K. Its scheduled sale price is JPY 2.435 billion. JMF Residence Miyakojima, located in Miyakojima-hondori, Miyakojima-ku, is a 12-story building completed in 2024 with 75 units in 1K and 1DK layouts. Its scheduled sale price is JPY 1.665 billion. JMF Residence Tenjinbashisuji 6-chome, located in Nagaranaka, Kita-ku, is an 11-story building completed in 2024 with 60 units, consisting of 20 1DK units and 40 1LDK units. Its scheduled sale price is JPY 1.8 billion.

The REIT acquired all three properties after completion, in April and May 2024. The total scheduled sale price exceeds the total acquisition price of JPY 5.047 billion by approximately 17% and the total appraised value of JPY 5.7 billion as of August 31, 2026, by approximately 3.5%. The appraisal NOI yields on the scheduled sale prices are approximately 3.6% for Sakuranomiya and Miyakojima and approximately 3.4% for Tenjinbashisuji 6-chome. The REIT said it will use the sale proceeds to acquire highly profitable residential properties.

In Osaka, the REIT announced in August 2026 that it would acquire JMF Residence Osaka Awaji, a rental apartment building in Higashiyodogawa-ku, for JPY 734 million, while in September it announced the sale of Life Shitadera (land), the land under a retail facility in Naniwa-ku, for JPY 6.1 billion.

Related Articles

• Japan Metropolitan Fund To Acquire Higashiyodogawa Rental Housing for JPY 734 Million
• Japan Metropolitan Fund To Sell Life Supermarket Ground-Lease Site in Osaka's Naniwa Ward for JPY 6.1 Billion

Key Facts

• Property Name: JMF Residence Sakuranomiya
• • Seller: Japan Metropolitan Fund Investment Corporation
  • Buyer: Undisclosed (domestic GK)
  • Transferred Asset: Real estate trust beneficiary interest
  • Scheduled Sale Price: JPY 2.435 billion
  • Acquisition Price: JPY 2.05 billion (acquired April 30, 2024)
  • Appraised Value: JPY 2.36 billion (as of August 31, 2026, by Japan Real Estate Institute)
  • Appraisal NOI Yield (based on scheduled sale price): Approx. 3.6%
  • Contract Date: October 21, 2026
  • Scheduled Sale Date: March 5, 2027
  • Location: 5-12-8 Nakanocho, Miyakojima-ku, Osaka, Osaka Prefecture
  • Nearest Station(s): Approximately three-minute walk from Sakuranomiya Station on the JR Osaka Loop Line
  • Completion: August 2023
  • Number of Floors: 11F (reinforced concrete construction)
  • Use: Apartment
  • Leasable Units: 119 (1K)
  • Area: Site area of approximately 385 tsubo (approx. 13,700 sq. ft.) / Gross Floor Area of approximately 946 tsubo (approx. 33,700 sq. ft.)
  • Occupancy: 92.4% (as of the end of February 2026)
  • Master Lease Company: Good Works Co., Ltd. (pass-through)
  • Property Management Company: Good Works Co., Ltd.
  • Trustee: Sumitomo Mitsui Trust Bank, Limited
• Property Name: JMF Residence Miyakojima
• • Seller: Japan Metropolitan Fund Investment Corporation
  • Buyer: Undisclosed (domestic GK)
  • Transferred Asset: Real estate trust beneficiary interest
  • Scheduled Sale Price: JPY 1.665 billion
  • Acquisition Price: JPY 1.47 billion (acquired April 30, 2024)
  • Appraised Value: JPY 1.64 billion (as of August 31, 2026, by Japan Real Estate Institute)
  • Appraisal NOI Yield (based on scheduled sale price): Approx. 3.6%
  • Contract Date: October 21, 2026
  • Scheduled Sale Date: March 5, 2027
  • Location: 4-22-10 Miyakojima-hondori, Miyakojima-ku, Osaka, Osaka Prefecture
  • Nearest Station(s): Approximately six-minute walk from Miyakojima Station on the Osaka Metro Tanimachi Line
  • Completion: January 2024
  • Number of Floors: 12F (reinforced concrete construction)
  • Use: Apartment
  • Leasable Units: 75 (1K / 1DK)
  • Area: Site area of approximately 140 tsubo (approx. 5,000 sq. ft.) / Gross Floor Area of approximately 614 tsubo (approx. 21,800 sq. ft.)
  • Occupancy: 96.9% (as of the end of February 2026)
  • Master Lease Company: Good Works Co., Ltd. (pass-through)
  • Property Management Company: Good Works Co., Ltd.
  • Trustee: Sumitomo Mitsui Trust Bank, Limited
• Property Name: JMF Residence Tenjinbashisuji 6-chome
• • Seller: Japan Metropolitan Fund Investment Corporation
  • Buyer: Undisclosed (domestic GK)
  • Transferred Asset: Real estate trust beneficiary interest
  • Scheduled Sale Price: JPY 1.8 billion
  • Acquisition Price: JPY 1.527 billion (acquired May 29, 2024)
  • Appraised Value: JPY 1.7 billion (as of August 31, 2026, by Japan Real Estate Institute)
  • Appraisal NOI Yield (based on scheduled sale price): Approx. 3.4%
  • Contract Date: October 21, 2026
  • Scheduled Sale Date: March 5, 2027
  • Location: 1-4-8 Nagaranaka, Kita-ku, Osaka, Osaka Prefecture
  • Nearest Station(s): Approximately two-minute walk from Tenjinbashisuji 6-chome Station on the Osaka Metro Tanimachi and Sakaisuji lines and the Hankyu Senri Line
  • Completion: January 2024
  • Number of Floors: 11F (reinforced concrete construction)
  • Use: Apartment
  • Leasable Units: 60 (1LDK: 40 / 1DK: 20)
  • Area: Site area of approximately 156 tsubo (approx. 5,600 sq. ft.) / Gross Floor Area of approximately 633 tsubo (approx. 22,500 sq. ft.)
  • Occupancy: 96.4% (as of the end of February 2026)
  • Master Lease Company: Haseko Livenet, Inc. (pass-through)
  • Property Management Company: Haseko Livenet, Inc.
  • Trustee: Sumitomo Mitsui Trust Bank, Limited