DOORDO Acquires Rental Apartment Building in Taisho Ward, Osaka

Real estate developer DOORDO has acquired Excellent Court Izuo, a rental apartment property located at 5-chome, Izuo, Taisho Ward, Osaka. The seller was Osaka Adelia, a group company of glassware manufacturer Ishizuka Glass, which had owned the asset for about 16 years.

The property is a five-story reinforced concrete building completed in 2009, with a total of 17 units. Gross Floor Area is about 434 tsubo (approx. 15,443 sq. ft.). The property comprises a mix of residential and office uses, with office space on the ground floor. The nearest station is Taisho Station on the JR Osaka Loop Line, accessible by about six minutes by bus and a three-minute walk from the Chishima bus stop.

Seller Osaka Adelia is a group company of Ishizuka Glass, a manufacturer of glass tableware. Buyer DOORDO, meanwhile, is a full-service real estate developer based in Osaka and Tokyo, handling the entire process from land acquisition to design, construction and sales. In Osaka City, the company is currently advancing newly built condominium developments in Nishi-Yodogawa Ward and Higashinari Ward. With annual revenue on the order of JPY 14.0 billion, this acquisition appears to reflect a move to expand its portfolio of existing income-producing properties in addition to its ground-up development business.

Key Facts

• Property Name:

  Excellent Court Izuo

• Buyer:

  DOORDO Co., Ltd.

• Seller:

  Osaka Adelia Co., Ltd.

• Location:

  5-13-11 Izuo, Taisho-ku, Osaka, Osaka Prefecture

• Nearest Station:

  Taisho Station on the JR Osaka Loop Line, 6 minutes by bus and 3 minutes on foot from Chishima bus stop

• Completion:

  January 2009

• Number of Floors:

  5F / B0 (Structure: Reinforced Concrete)

• Gross Floor Area:

  Approx. 434 tsubo (approx. 15,443 sq. ft.)

• Total Units:

  17