Asahi Kasei Realty & Residence Acquires Residential Asset Near Kuramae
In March 2025, Asahi Kasei Realty & Residence acquired the rental apartment building "Labeur Minowa," located in Misugi, Taito-ku, Tokyo, from RUF Co., Ltd. Notably, RUF had acquired the asset just six months earlier in September 2024.
The property is a 5-minute walk from Shin-Okachimachi Station on the Toei Oedo Line, with Asakusabashi and Kuramae Stations also within walking distance. The surrounding area is a transitional zone between business districts and traditional residential neighborhoods. In recent years, the Okachimachi–Kuramae corridor has seen a rise in boutique-scale developments such as cafés and inbound-oriented lodging facilities, fueling investor interest alongside growing residential demand.
Completed in April 2008, the asset is a 10-story reinforced concrete apartment building offering 1K units of 27–29㎡ (approx. 290–312 sq. ft.) and 1LDK units around 42㎡ (approx. 452 sq. ft.). Local rental prices have been on a strong upward trajectory; according to estie Residential Research, average asking rents within a five-minute walk of Kuramae Station have exceeded JPY 16,000 per tsubo (approx. 52.9 sq. ft.), compared to around JPY 13,000 pre-pandemic.
While traditionally focused on new developments, Asahi Kasei Realty & Residence has increasingly turned its attention to the acquisition and revitalization of high-quality existing stock. This latest acquisition is expected to yield upside through branding and leasing capabilities unique to the firm.
Key Facts
Property Name: Labeur Minowa
Buyer: Asahi Kasei Realty & Residence
Seller: RUF Co., Ltd.
Transaction Price: Undisclosed
Location: 2-8-4 Misugi, Taito-ku, Tokyo
Nearest Station: Shin-Okachimachi Station (Toei Oedo Line) – approx. 5 min walk
Completion: April 2008
Number of Floors: 10F
Gross Floor Area: Approx. 1,053㎡ (approx. 11,334 sq. ft.)