Keikyu Real Estate to Acquire GLIP, Expanding Investment Condominium Platform in Yokohama–Kawasaki
Keikyu Real Estate Co., Ltd. will acquire all shares in GLIP Co., LTD. on November 21, 2025, bringing the company into the Keikyu Group. GLIP is a vertically integrated investment condominium platform based in Yokohama and Kawasaki, covering everything from development through property management. Keikyu Group determined that the business is aligned with its strategy of shifting from a long-term hold rental platform to a capital recycling model.
Since its establishment in 2009, GLIP has developed and marketed the “Le’a” line of newly built investment condominiums and the “G.Gallery” series of renovated investment condominiums, primarily in the Yokohama and Kawasaki submarkets. To date, the company has sold 74 buildings totaling 2,465 units. Its current management portfolio stands at 1,987 units, with an occupancy rate in excess of 98%. Net sales for the fiscal year ended May 2025 totaled approximately JPY 7.689 billion. GLIP provides a one-stop suite of services, including investment condominium development, design, investment advisory, sales, brokerage, leasing and building management.
Under the Group’s medium-term management plan, Keikyu Real Estate is driving placemaking in the Kawasaki and Yokohama corridor, positioning the real estate business as a “second earnings pillar” alongside the transportation business. Through this acquisition, Keikyu Group will be able to propose its “PRIME” brand for-sale housing and other owner-occupied products to younger customers who own investment condominiums in GLIP’s core Yokohama and Kawasaki markets, while also leveraging GLIP’s sales and marketing expertise in investment condominiums to accelerate sales. On GLIP’s side, the company aims to strengthen its land acquisition capabilities and expand its operating platform by tapping the financial resources of the Keikyu Group. Following the share transfer, both companies will continue to use their existing trade names and brand names.
Against a backdrop of sharply higher for-sale condominium prices in central Tokyo, buyers are placing greater emphasis on asset value and resale potential, and compact condominiums in station-front locations are increasingly being purchased for investment purposes. Persistent inflation has also driven a shift in mentality “from savings to investment,” while growing concerns over future pension benefits, particularly among younger generations, are further supporting demand for investment condominiums.
Key Facts
Corporate Name: GLIP Co., LTD.
Address: 2F First Place Yokohama, 2-7-1 Takashima, Nishi-ku, Yokohama-shi, Kanagawa
Established: June 15, 2009
Business Description: Real estate sales, leasing, brokerage, property management and related services
Net Sales: JPY 7.689 billion (for the period from June 1, 2024 to May 31, 2025)
Sales Track Record: 74 buildings, 2,465 units sold
Units Under Management: 1,987 units