Daiwa House REIT Acquires “Amanek Kumamoto” Hotel for JPY 4.75 Billion, Sells Logistics Facility “D Project Machida” for JPY 11.7 Billion

On July 25, Daiwa House REIT Investment Corporation announced the forward commitment acquisition of the limited-service hotel Amanek Kumamoto for JPY 4.75 billion, along with the sale of the logistics facility D Project Machida for JPY 11.7 billion.

Amanek Kumamoto is a newly built 12-story, 176-room hotel with a gross floor area of 5,398 sqm (approx. 58,100 sq. ft.), located in Chuo Ward, Kumamoto City. Just a 6-minute walk from the Karashimacho tram stop, the property enjoys close proximity to Sakuramachi Bus Terminal and Kumamoto's largest entertainment district, targeting both business travelers and inbound tourists. Upon opening, the hotel will enter into a 21-year fixed-term lease agreement with AMANEK Corporation ensuring a stabilized NOI yield of 5.3%.

On the other hand, D Project Machida is a regional logistics hub located near the Ken-O Expressway Sagamihara-Aikawa IC and Route 16, approximately 2 km from JR Yokohama Line’s Sagamihara Station. The five-story building, constructed with S and RC structure, has a gross floor area of 15,273 tsubo (approx. 505,200 sq. ft.) on a site of 10,243 tsubo (approx. 338,500 sq. ft.). Mitsubishi HC Capital will serve as the master lessee, with the ownership transfer scheduled around August to September 2025.

Amanek Kumamoto offers the potential for upside from post-COVID business and inbound tourism recovery, while securing stable income from the outset with its long-term lease. Meanwhile, D Project Machida, a build-to-suit logistics facility over 18 years old, is being divested ahead of potential yield compression to realize latent gains for unitholders. Following the sale, the REIT’s portfolio ratio of multi-tenant properties is expected to increase to 28.4%.

Key Facts

• Property Name: Amanek Kumamoto

  • Buyer: Daiwa House REIT Investment Corporation

  • Seller: Fuyo General Lease Co., Ltd.

  • Transaction Price: JPY 4.75 billion

  • Location: 2-1-9 Shimotori, Chuo-ku, Kumamoto-shi, Kumamoto

  • Nearest Station: 6-minute walk from Karashimacho tram stop (Kumamoto City Tram)

  • Completion: Scheduled for July 2026

  • Number of Floors: 12F

  • Total Guest Rooms: 176

  • Gross Floor Area: 5,398㎡ (approx. 58,100 sq. ft.)

• Property Name: D Project Machida

  • Buyer: DH Machida Project GK

  • Seller: Daiwa House REIT Investment Corporation

  • Transaction Price: JPY 11.7 billion

  • Location: 2-1-6 Oyama-ga-oka, Machida-shi, Tokyo

  • Nearest Station: Approx. 1.8 km from JR Yokohama Line Sagamihara Station

  • Completion: October 2006

  • Number of Floors: 5F

  • Gross Floor Area: Approx. 15,273 tsubo (approx. 505,200 sq. ft.)