Japan REIT Acquires Four Assets, Including Two Hotels, for JPY 15.418 Billion

Japan REIT Investment Corp. will acquire four assets—one multifamily property, two hotels, and one land parcel (leased-fee interest)—for a total of JPY 15.418 billion. The scheduled acquisition date is March 6, 2026. All assets will be acquired from sponsor-related companies within the SBI Group.The assets include the rental apartment building “Prime Garden Akatsuka” in Itabashi Ward, Tokyo (acquisition price: JPY 2.42 billion); “Hotel Resol Akihabara” in Chiyoda Ward, Tokyo (JPY 6.125 billion); “THE BASEMENT HOTEL Osaka Honmachi” in Nishi Ward, Osaka (JPY 5.6 billion); and the land underlying “K.U. Kawagoe Inter Store” in Kawagoe City, Saitama (JPY 1.273 billion). The combined appraised value of the four assets is JPY 18.95 billion, with the acquisition price approximately 19% below appraisal.For the two hotels, the REIT has entered into lease agreements with the operators that include variable rent components. “Hotel Resol Akihabara,” operated by Resol Holdings, uses a monthly revenue-linked variable rent structure. “THE BASEMENT HOTEL Osaka Honmachi,” operated by RNT Hotels, is structured with fixed rent plus a GOP-linked variable rent component. The REIT also acquired assets including a hotel in September 2025, and this transaction represents a second step in accelerating investment in the hotel sector.

Key Facts

• Buyer: Japan REIT Investment Corp.

• Sellers: SBI Group-related companies (Godo Kaisha Omori; Godo Kaisha Residence Asset Solution No. 2; Godo Kaisha Osaka Honmachi Hotel; Godo Kaisha SPV04)

• Total Acquisition Price: JPY 15.418 billion

• Total Appraised Value: JPY 18.95 billion

• Scheduled Acquisition Date: March 6, 2026

• Prime Garden Akatsuka

  • Acquisition Price: JPY 2.42 billion

  • Appraised Value: JPY 3.2 billion

  • Cap Rate: 3.2%

  • Address: 1-6-6 Akatsuka, Itabashi Ward, Tokyo

  • Nearest Stations: Shimо-Akatsuka Station (Tobu Tojo Line), approx. 3-minute walk; Chikatetsu-Akatsuka Station (Tokyo Metro Fukutoshin/Yurakucho Lines), approx. 5-minute walk

  • Completion: December 2024

  • Number of Floors: 6F

  • Gross Floor Area: approx. 852 tsubo (approx. 30,317 sq. ft.)

  • Total Units: 71

  • Occupancy: 91.5%

• Hotel Resol Akihabara

  • Acquisition Price: JPY 6.125 billion

  • Appraised Value: JPY 7.94 billion

  • Cap Rate: 3.5%

  • Address: 2-25-12 Kanda Sudacho, Chiyoda Ward, Tokyo

  • Nearest Stations: Akihabara Station (JR), approx. 3-minute walk; Iwamotocho Station (Toei Shinjuku Line), approx. 2-minute walk

  • Completion: February 2019

  • Number of Floors: 14F

  • Gross Floor Area: approx. 999 tsubo (approx. 35,547 sq. ft.)

  • Total Keys: 143

  • Operator: Resol Holdings Co., Ltd.

  • Occupancy: 100.0%

• THE BASEMENT HOTEL Osaka Honmachi

  • Acquisition Price: JPY 5.6 billion

  • Appraised Value: JPY 6.35 billion

  • Cap Rate: 3.7%

  • Address: 1-11-8 Nishihommachi, Nishi Ward, Osaka City, Osaka

  • Nearest Station: Hommachi Station (Osaka Metro), approx. 2-minute walk

  • Completion: January 2019

  • Number of Floors: 14F / B1

  • Gross Floor Area: approx. 998 tsubo (approx. 35,512 sq. ft.)

  • Total Keys: 119

  • Operator: RNT Hotels Co., Ltd.

  • Occupancy: 100.0%

• K.U. Kawagoe Inter Store Land (leased-fee interest)

  • Acquisition Price: JPY 1.273 billion

  • Appraised Value: JPY 1.46 billion

  • Discount Rate: 3.5%

  • Address: 1-32-2 Otsuka, Kawagoe City, Saitama

  • Nearest Station: Minami-Otsuka Station (Seibu Shinjuku Line), approx. 13-minute walk

  • Nearest Expressway Interchange: Adjacent to Kawagoe IC (Kan-Etsu Expressway)

  • Site Area: approx. 1,572 tsubo (approx. 55,936 sq. ft.)

  • Occupancy: 100.0%