Sanco Real Estate Sells Rental Apartment Building in Higashi Ward, Nagoya

Heartland, which operates au mobile phone stores across the three Tokai prefectures and is based in Nagoya, acquired the rental apartment building “Praise Seed Kurumamichi Square” in Nagoya’s Higashi Ward in February 2026. The seller was Sanco Real Estate, based in Tsu. The property had been developed under the company’s “for-sale rental apartment” business model, and was ultimately acquired by a local company from a different industry.

The property is a 15-story reinforced concrete rental apartment building located a six-minute walk from Kurumamichi Station on the Nagoya Municipal Subway Sakura-dori Line. It was completed in August 2023 and contains 56 units in total. It is one asset in Sanco Real Estate’s “Praise Seed” rental apartment brand, which the company launched in 2018, and was sold roughly two and a half years after completion.

Sanco Real Estate is the real estate arm of the Mie Kotsu Group. Leveraging its development know-how from the “Praise” condominium brand, it launched its for-sale rental apartment business in 2018. The company’s business model involves developing rental apartment buildings for single-person households in locations close to train stations, securing tenants, and then selling the entire building to investors. As of May 2025, it had supplied 13 buildings totaling 604 units, and it has been expanding the business at a pace of two to three developments per year, primarily in Nagoya.

Key Facts

• Property Name:

  Praise Seed Kurumamichi Square

• Buyer:

  Heartland Co., Ltd.

• Seller:

  Sanco Real Estate Co., Ltd.

• Location:

  3-1-17 Tsutsui, Higashi-ku, Nagoya, Aichi Prefecture

• Nearest Station:

  Kurumamichi Station on the Nagoya Municipal Subway Sakura-dori Line, 6-minute walk

• Completion:

  August 2023

• Number of Floors:

  15F

• Total Units:

  56