Eirisu Corporation Acquires Rental Apartment Building in Osaka’s Chuo Ward
Eirisu Corporation has acquired K'sCourt Higashihonmachi, a rental apartment building located in Tokui-cho, Chuo Ward, Osaka, from K's Factory.
The property is a 12-story reinforced concrete rental apartment building with a total of 33 units, completed in April 2007. It is located a seven-minute walk from both Tanimachi 4-chome Station on the Osaka Metro Tanimachi Line and Sakaisuji-Hommachi Station on the Osaka Metro Sakaisuji Line, in an area where the business districts and residential neighborhoods of the Hommachi and Tanimachi areas intersect. The ground floor includes retail space.
Eirisu Corporation is a real estate company headquartered in Daito, Osaka Prefecture, and is engaged in the acquisition of investment properties and development projects in the Kansai region. It also maintains a base in Chuo Ward, Osaka, and has been developing primarily residential assets, including apartment development projects in Joto Ward and the development of fee-based senior housing in Hirakata.
Chuo Ward in Osaka has seen notable population growth as a destination for a return to the city center. Compared with the 2000 national census, its population has increased 2.1 times and the number of households has expanded 2.6 times. Over the most recent one-year period, the ward recorded a population increase of 3,211, the largest gain among Osaka’s 24 wards. Single-person households account for approximately 68% of the total, and rental housing represents about 60% of the overall housing stock, indicating continued deep end-user demand for rental apartment buildings.
Key Facts Property Name: K'sCourt Higashihonmachi Buyer: Eirisu Corporation Ltd. Seller: K's Factory Ltd. Location: 2-3-3 Tokui-cho, Chuo Ward, Osaka, Osaka Prefecture Nearest Station: Seven-minute walk from Tanimachi 4-chome Station on the Osaka Metro Tanimachi Line; seven-minute walk from Sakaisuji-Hommachi Station on the Osaka Metro Sakaisuji Line Completion: April 2007 Number of Floors: 12F Structure: Reinforced Concrete Gross Floor Area: Approx. 260 tsubo (approx. 9,252 sq. ft.) Total Units: 33 units