Daiwa Securities Living REIT to Acquire Two “Gran Casa” Rental Residential Assets in Greater Tokyo

Daiwa Securities Living Investment Corporation will acquire two rental residential properties—Gran Casa Yokohama Ishikawachō (Naka Ward, Yokohama) and Gran Casa Kawasaki Ikuta (Tama Ward, Kawasaki)—on December 1, 2025.

Gran Casa Yokohama Ishikawachō will be acquired for JPY 4,337 million. The property is a 7-minute walk from Isezaki-Chojamachi Station on the Yokohama Municipal Subway Blue Line and a 9-minute walk from Ishikawachō Station on the JR Keihin-Tohoku/Negishi Line. It comprises a 10-story building with a Gross Floor Area of 4,314.87 m² (approx. 46,441 sq. ft.) completed in 2024, offering 117 leasable units.

Gran Casa Kawasaki Ikuta will be acquired for JPY 1,080 million. The property is a 10-minute walk from Yomiuriland-mae Station on the Odakyu Odawara Line. It consists of a 3-story building with 1 basement level, a Gross Floor Area of 1,807.29 m² (approx. 19,457 sq. ft.), completed in 2023, and provides 22 leasable units.

The “Gran Casa” series has become a core component of the REIT’s recent acquisitions, including a major 16-asset rental housing transaction in 2023. The brand focuses on recently built, mid-scale RC rental apartments located within roughly a 10-minute walk to stations in the Tokyo and Kansai metropolitan areas. The REIT continues to reshape its portfolio by disposing of older rental assets and healthcare facilities while acquiring newer rental housing. As both assets are located near stations, built within the past two years, and acquired below appraisal value, they will contribute to rejuvenating the rental residential portfolio and strengthening both the single and family unit segments in Greater Tokyo.

Key Facts

• Property Name: Gran Casa Yokohama Ishikawachō

  • Buyer: Daiwa Securities Living Investment Corporation

  • Seller: Daiwa Securities Realty Co., Ltd.

  • Transaction Price: JPY 4,337 million

  • Appraisal Value: JPY 4,440 million

  • NOI Yield: 3.9%

  • Location: 1-2-1 Chojamachi, Naka-ku, Yokohama, Kanagawa

  • Nearest Stations:

    • Isezaki-Chojamachi Station (Yokohama Municipal Subway Blue Line), 7-minute walk

    • Ishikawachō Station (JR Keihin-Tohoku/Negishi Line), 9-minute walk

  • Completion: February 2024

  • Number of Floors: 10F

  • Gross Floor Area: 4,314.87 m² (approx. 46,441 sq. ft.)

  • Leasable Units: 117

• Property Name: Gran Casa Kawasaki Ikuta

  • Buyer: Daiwa Securities Living Investment Corporation

  • Seller: Daiwa Securities Realty Co., Ltd.

  • Transaction Price: JPY 1,080 million

  • Appraisal Value: JPY 1,110 million

  • NOI Yield: 4.0%

  • Location: 3-17-7 Nishikuta, Tama-ku, Kawasaki, Kanagawa

  • Nearest Station: Yomiuriland-mae Station (Odakyu Odawara Line), 10-minute walk

  • Completion: February 2023

  • Number of Floors: 3F / B1

  • Gross Floor Area: 1,807.29 m² (approx. 19,457 sq. ft.)

  • Leasable Units: 22