ORIX JREIT Inc. to Acquire Large Office Building in Kamata for JPY 11.3 Billion, Sell Hamamatsu Act Tower for JPY 17.1 Billion
ORIX JREIT Inc. will acquire Kamata Prime, an office building in Ota Ward, Tokyo, for JPY 11.3 billion on March 31, 2026. At the same time, it will sell Hamamatsu Act Tower in Hamamatsu, Shizuoka Prefecture, in two stages for a combined JPY 17.15 billion, consisting of a 40% interest for JPY 6.86 billion and a 60% interest for JPY 10.29 billion. The transaction represents a portfolio reshuffling in which an older regional asset is sold and a newer asset in the Tokyo metropolitan area is acquired.
The acquisition target, Kamata Prime, is a steel-frame, eight-story office building completed in 2010 and located about a five-minute walk from Kamata Station on the JR Keihin-Tohoku, Tokyu Ikegami and Tokyu Tamagawa lines. It has a gross floor area of approximately 2,408 tsubo (approx. 79,595 sq. ft.). The appraised NOI yield is 3.8%, and the property is fully occupied with stable operations. In the Kamata area, supply of office buildings of comparable scale is limited, and the REIT valued the property’s rarity as an asset capable of accommodating expansion and relocation demand from large tenants. Around Kamata Station, plans are advancing for the New Airport Line, known as the Kamakama Line, which would connect the Tokyu Tamagawa Line and the Keikyu Airport Line. Haneda Airport Line, a third-sector company that will serve as the project operator, was established in 2022, with service targeted to begin in the 2030s. Improved access to Haneda Airport is expected to lift the area’s value, and as of 2025, officially assessed land prices around Kamata Station had risen 8.1% year over year.
Meanwhile, Hamamatsu Act Tower, which will be sold, has maintained its competitiveness as a landmark directly connected to JR Hamamatsu Station despite being 31 years old. ORIX JREIT Inc. said it received purchase interest from the buyer at a price exceeding both the appraised value and book value, and determined that realizing unrealized gains would benefit unitholders. It also decided to proceed with the sale in light of a proposal for regional revitalization through public-private collaboration.
Acquired property
Property Name: Kamata Prime
Buyer: ORIX JREIT Inc.
Seller: Domestic GK (undisclosed)
Acquisition Price: JPY 11.3 billion
Appraised Value: JPY 12.0 billion (as of Feb. 28, 2026)
Appraised NOI Yield: 3.8%
Location: 5-44-5 Kamata, Ota-ku, Tokyo
Nearest Station: Approximately 5 minutes on foot from Kamata Station on the JR Keihin-Tohoku Line, Tokyu Ikegami Line and Tokyu Tamagawa Line; approximately 9 minutes on foot from Keikyu Kamata Station on the Keikyu Line
Completion: May 2010
Number of Floors: 8F
Gross Floor Area: Approximately 2,409 tsubo (approx. 79,628 sq. ft.)
Occupancy Rate: 100% (as of Dec. 31, 2025)
Transferred property
Property Name: Hamamatsu Act Tower
Seller: ORIX JREIT Inc.
Buyer: Domestic GK (undisclosed)
Disposition Price: JPY 17.15 billion (40% interest: JPY 6.86 billion + 60% interest: JPY 10.29 billion)
Appraised Value: JPY 14.7 billion (as of Feb. 28, 2026)
Location: 111-2 Itaya-cho, Chuo Ward, Hamamatsu, Shizuoka Prefecture
Nearest Station: 3 minutes on foot from JR Hamamatsu Station
Completion: July 1994
Number of Floors: 45F / B2
Height: 212.77 m
Gross Floor Area: Approximately 150,978 sq m (approx. 1,625,116 sq. ft.) / approximately 45,671 tsubo (approx. 1,625,086 sq. ft.)
Site Area: Approximately 12,335 sq m (approx. 132,773 sq. ft.)
Use: Office / hotel / retail / parking (B1F-8F: retail facilities; 9F-27F: office; 28F-44F: hotel; 45F: observation gallery)
Occupancy Rate: 98.3% (as of Dec. 31, 2025)
Gain on Sale: JPY 1.523 billion
Scheduled Disposition Date: First closing: March 27, 2026 (40%); second closing: Sept. 1, 2026 (60%)