MIRARTH REIT to Acquire “TOSEI HOTEL & SEMINAR Makuhari” in Chiba for JPY 4.73 Billion

MIRARTH Real Estate Investment Corporation announced that it plans to acquire the hotel property “TOSEI HOTEL & SEMINAR Makuhari” in Narashino City, Chiba Prefecture, on January 30, 2026. The acquisition price is JPY 4.725 billion, with Tosei Corporation as the seller. Following the acquisition, the current operator will continue to manage the property.

The property is located a two-minute walk from Shin-Narashino Station on the JR Keiyo Line and approximately a five-minute drive from the Yatsu-Funabashi Interchange on the Higashi-Kanto Expressway. Completed in 1992, the building is an eight-story steel-frame structure with a Gross Floor Area of approximately 2,649 tsubo (approx. 94,300 sq. ft.). It comprises 137 guest rooms, 12 seminar rooms, and a large hall capable of accommodating more than 200 people, functioning as a lodging-oriented training and seminar facility.

In addition to lodging demand, the asset is expected to benefit from diversified revenue sources through training and seminar use, as well as accommodation demand from users of large-scale attractions along the Keiyo Line corridor. The tenant is expected to enter into a variable rent lease based on GOP (Gross Operating Profit margin), enabling the investor to capture upside from improved hotel performance.

The Makuhari area is one of Japan’s leading MICE hubs, with solid lodging demand. Annual visitors to Makuhari Messe reached approximately 5.26 million in fiscal 2024, a sharp recovery from around 0.67 million in fiscal 2020 during the pandemic. The number of events also increased from 384 to 900 over the same period. Across Chiba Prefecture, the number of foreign overnight guests totaled approximately 4.41 million in 2024, representing a 36.9% year-on-year increase, reflecting a steady recovery in inbound tourism. Supported by both training-related demand and MICE-driven lodging demand, the property is expected to maintain stable operations.

Key Facts

• Property Name: TOSEI HOTEL & SEMINAR Makuhari

• Buyer: MIRARTH Real Estate Investment Corporation

• Seller: Tosei Corporation

• Acquisition Price: JPY 4.725 billion

• Appraised Value: JPY 4.880 billion

• Cap Rate: 4.9%

• Location: 2-3-2 Akanehama, Narashino City, Chiba Prefecture

• Nearest Station: JR Keiyo Line “Shin-Narashino” Station, 2-minute walk

• Completion: July 1992

• Number of Floors: 8F

• Gross Floor Area: approx. 2,649 tsubo (approx. 94,300 sq. ft.)

• Total Number of Guest Rooms: 137

• Occupancy Rate: 100.0% (as of end-December 2025)

• Operator: Tosei Hotel Management Co., Ltd.