AD Works Acquires Two Adjacent Rental Apartment Buildings in Sakurashinmachi

AD Works acquired two rental apartment buildings, Raffine Sakurashinmachi and Espoir Sakurashinmachi, in Sakurashinmachi 2-chome, Setagaya-ku, Tokyo, on April 1, 2026. The two properties are adjacent, and the seller of both was Sekisui House Real Estate.

Raffine Sakurashinmachi is a seven-minute walk from Sakurashinmachi Station on the Tokyu Den-en-toshi Line. Completed in 1999, the seven-story building has 35 units in 1LDK and 2LDK layouts. Espoir Sakurashinmachi is an eight-minute walk from the same station; completed in 2008, the five-story building has seven units in 1LDK, 2LDK and 3LDK layouts.

Sekisui House Real Estate Tokyo acquired both buildings on the same day in December 2022, and they passed to Sekisui House Real Estate in February 2025 as part of a group reorganization. The sale comes after about three years and four months of ownership by the group.

A comparison of average asking rents for rental housing within a 10-minute walk of Sakurashinmachi Station and three nearby stations on the Tokyu Den-en-toshi Line shows that, as of the end of August 2026, the area around Sakurashinmachi Station had the lowest level of the four, at approximately JPY 14,370 per tsubo. Rents around Yoga, Komazawa-daigaku and Sangen-jaya stations were approximately 3%, 8% and 13% higher than around Sakurashinmachi, respectively. Over the past three years, rents around all four stations rose by about 20% (based on editorial research using estie Residential Research).

Among its recent residential acquisitions, AD Works acquired Liesia Nishi-Shinjuku, a 13-story building with 49 units, from Odakyu Real Estate in January 2026, and in February of the same year acquired Anelo Ginza, a building with 11 floors above ground and one below and 48 units.

Key Facts

• Property Name: Raffine Sakurashinmachi
• • Buyer: AD Works Co., Ltd.
  • Seller: Sekisui House Real Estate Co., Ltd.
  • Transaction Date: April 1, 2026
  • Location: 2-21-13 Sakurashinmachi, Setagaya-ku, Tokyo
  • Nearest Station(s): Seven-minute walk from Sakurashinmachi Station on the Tokyu Den-en-toshi Line
  • Completion: March 1999
  • Number of Floors: 7F (reinforced concrete construction)
  • Total Units: 35
  • Unit Layouts: 1LDK / 2LDK
  • Area: Gross Floor Area of approximately 775 tsubo (approx. 27,600 sq. ft.)
• Property Name: Espoir Sakurashinmachi
• • Buyer: AD Works Co., Ltd.
  • Seller: Sekisui House Real Estate Co., Ltd.
  • Transaction Date: April 1, 2026
  • Location: 2-21-11 Sakurashinmachi, Setagaya-ku, Tokyo
  • Nearest Station(s): Eight-minute walk from Sakurashinmachi Station on the Tokyu Den-en-toshi Line
  • Completion: November 2008
  • Number of Floors: 5F (reinforced concrete construction)
  • Total Units: 7
  • Unit Layouts: 1LDK / 2LDK / 3LDK
  • Area: Gross Floor Area of approximately 327 tsubo (approx. 11,600 sq. ft.)