Japan Excellent Investment Corp. to Acquire Offices in Akasaka and Nagoya, Divest “BIZCORE Akasaka-Mitsuke”
Japan Excellent Investment Corp. announced on February 20, 2026 that it will acquire an additional ownership interest in Akasaka Intercity AIR for JPY 5,545 million and purchase Aqua Town Nayabashi in Nagoya for JPY 6,000 million. At the same time, it will divest BIZCORE Akasaka-Mitsuke to its sponsor, Nippon Steel Kowa Real Estate Co., Ltd., for JPY 6,450 million.
The transaction represents a portfolio reshuffle totaling JPY 11,545 million in acquisitions and JPY 6,450 million in dispositions.
Akasaka Intercity AIR is a 39-story large-scale office tower directly connected to Tameike-Sanno Station. The building offers a typical floor plate of approximately 780 tsubo (approx. 25,700 sq. ft.) and 2,850 mm ceiling heights. It has earned CASBEE S Rank and LEED Platinum certification, reflecting its high environmental performance specifications.
The investment corporation previously acquired an approximately 2.9% ownership stake in July 2018. With this additional acquisition, its ownership interest will increase to approximately 5.1%. Compared with the planned disposition of BIZCORE Akasaka-Mitsuke, the REIT expects higher rental income and aims to enhance portfolio growth within the Akasaka submarket.
Aqua Town Nayabashi is a mixed-use complex located a nine-minute walk from Nagoya Station and a six-minute walk from Fushimi Station. The property consists of an office/retail building and a residential tower. The REIT will acquire the office, retail, and parking components within the office building. The property features a regular-shaped typical floor plate of approximately 243 tsubo (approx. 8,000 sq. ft.) and maintains a high occupancy rate of 96.1%.
This marks the REIT’s second acquisition in Nagoya, following the NHK Nagoya Broadcasting Center Building, further advancing its regional diversification strategy.
Acquired property
Buyer: Japan Excellent Investment Corp.
Akasaka Intercity AIR (Additional Ownership Interest)
Acquisition Price: JPY 5,545 million
Appraised Value: JPY 5,940 million
Cap Rate: 2.6%
Seller: Nippon Steel Kowa Real Estate Co., Ltd.
Location: 1-8-1 Akasaka, Minato-ku, Tokyo
Access: Direct underground connection to Tokyo Metro Ginza Line and Namboku Line “Tameike-Sanno” Station
Completion: August 2017
Number of Floors: 39F / B3 (Steel / SRC structure)
Gross Floor Area: Approx. 53,405 tsubo (approx. 1,765,000 sq. ft.) (entire building)
Typical Floor Plate: Approx. 780 tsubo (approx. 25,700 sq. ft.)
Ceiling Height: 2,850 mm
Scheduled Acquisition Date: March 19, 2026
Occupancy: 87.7% (as of December 31, 2025, for the to-be-acquired ownership portion)
Aqua Town Nayabashi
Acquisition Price: JPY 6,000 million
Appraised Value: JPY 6,200 million
Cap Rate: 3.7%
Seller: GK Orient No.1
Location: 5-33-10 Meieki, Nakamura-ku, Nagoya, Aichi (Office Building)
Access: 6-minute walk from Subway Higashiyama and Tsurumai Lines “Fushimi” Station; 9-minute walk from JR “Nagoya” Station
Completion: November 2006
Number of Floors: 7F (SRC / Steel structure, Office Building)
Gross Floor Area: Approx. 2,207 tsubo (approx. 72,960 sq. ft.) (Office Building)
Typical Floor Plate: Approx. 243 tsubo (approx. 8,000 sq. ft.)
Ceiling Height: 2,700 mm
Scheduled Acquisition Date: February 27, 2026
Occupancy: 96.1% (as of December 31, 2025, Office Building)
Transferred property
Seller: Japan Excellent Investment Corp.
Buyer: Nippon Steel Kowa Real Estate Co., Ltd.
BIZCORE Akasaka-Mitsuke
Disposition Price: JPY 6,450 million
Appraised Value: JPY 5,910 million
Location: 3-1-2 Akasaka, Minato-ku, Tokyo
Scheduled Disposition Date: July 3, 2026
Occupancy: 88.9% (as of December 31, 2025)