Seibu Construction Enters Real Estate Development, Acquires Two Adjacent Properties in Toshima Ward
Seibu Construction Co., Ltd. acquired two adjacent rental residential buildings in Nagasaki 5-chome, Toshima Ward, Tokyo, on July 3, 2026. This is the company's first buy-and-resell project as it enters the real estate development business, and following the acquisition, it will pursue value-add improvements such as renovation, leveraging the expertise of the MIRAIT One Group. The seller was Ichigo LLC, a Blackstone-affiliated entity.
The acquired properties are located a five-minute walk from "Higashi-Nagasaki" Station on the Seibu Ikebukuro Line and consist of two adjacent buildings, Lucre Higashi-Nagasaki and Lucre Flats. Lucre Higashi-Nagasaki, completed in 1990, is a three-story building with 30 units, while Lucre Flats, completed in 2011, is a three-story building with 9 units.
Seibu Construction is entering the real estate development business against a backdrop of a maturing construction market and rising material costs, aiming to improve its operating margin, expand its customer base, and reduce volatility. The company plans to apply value-add improvements to this acquisition before reselling it. In addition to undertaking construction and renovation work, the company is expanding its business scope by acquiring properties itself and handling everything through renovation and resale.
Key Facts
- Property Name: Lucre Higashi-Nagasaki
- Buyer: Seibu Construction Co., Ltd.
- Seller: Ichigo LLC
- Acquisition Date: July 3, 2026
- Location: 5-3-10 Nagasaki, Toshima-ku, Tokyo
- Nearest Station: Seibu Ikebukuro Line “Higashi-Nagasaki” Station (5 min walk)
- Completion: October 1990
- Number of Floors: 3F (reinforced concrete construction)
- Total Units: 30
- Site Area: approximately 301 tsubo (approx. 10,700 sq. ft.) / Gross Floor Area: approximately 530 tsubo (approx. 18,900 sq. ft.)
- Property Name: Lucre Flats
- Buyer: Seibu Construction Co., Ltd.
- Seller: Ichigo LLC
- Acquisition Date: July 3, 2026
- Location: 5-3-7 Nagasaki, Toshima-ku, Tokyo
- Nearest Station: Seibu Ikebukuro Line “Higashi-Nagasaki” Station (5 min walk)
- Completion: March 2011
- Number of Floors: 3F (steel-frame construction)
- Total Units: 9
- Site Area: approximately 61 tsubo (approx. 2,200 sq. ft.) / Gross Floor Area: approximately 104 tsubo (approx. 3,700 sq. ft.)
