Daiwa House REIT To Acquire Retail Portion of Urawa Calue for JPY 9.5 Billion
Daiwa House REIT Investment Corporation announced on September 18, 2026, that it will acquire the retail portion (BicCamera Urawa Nishiguchi Store) of Urawa Calue, a mixed-use complex in Urawa Ward, Saitama, from its sponsor Daiwa House Industry. The planned acquisition price is JPY 9.5 billion. The asset is a trust beneficiary interest whose trust property consists of part of the sectional ownership of the retail portion and a 9.36% site-use right, and the sale and purchase agreement is scheduled to be signed on September 29. The REIT will acquire a 50% quasi-co-ownership interest on that date and the remaining 50% on March 1, 2027.
Urawa Calue is a mixed-use complex completed in May 2026 through a redevelopment project in which Nomura Real Estate, Mitsubishi Jisho Residence and Daiwa House Industry participated. It is located approximately one minute on foot from Urawa Station on the JR Keihin-Tohoku and Utsunomiya lines. The acquired section comprises part of the basement level through the second floor of the East Building, with a gross floor area of approximately 2,174 tsubo (approx. 77,400 sq. ft.) attributable to the sectional ownership. The appraisal value is JPY 11.2 billion, and the appraisal NOI yield on the planned acquisition price is 5.4%.
The REIT decided on the acquisition in recognition of the property's prime location in front of the station and its high appraisal NOI yield as a newly built asset. After the acquisition, the portfolio will consist of 233 properties worth JPY 934.6 billion, centered on 64 logistics facilities and also including 131 residential properties and 22 retail facilities, among others.
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Key Facts
- Property Name: Urawa Calue (BicCamera Urawa Nishiguchi Store)
- Asset to Be Acquired: Trust beneficiary interest in real estate (part of the sectional ownership of the retail portion and a 9.36% site-use right)
- Buyer: Daiwa House REIT Investment Corporation
- Seller: Daiwa House Industry Co., Ltd.
- Planned Acquisition Price: JPY 9.5 billion
- Appraised Value: JPY 11.2 billion, by Japan Real Estate Institute as of August 31, 2026
- Appraisal NOI Yield: 5.4%
- Scheduled Agreement Date: September 29, 2026
- Scheduled Acquisition Date: September 29, 2026 (50% quasi-co-ownership interest) / March 1, 2027 (50% quasi-co-ownership interest)
- Location: 1-10-1 Takasago, Urawa Ward, Saitama, Saitama Prefecture
- Nearest Station(s): Approximately one-minute walk from Urawa Station on the JR Keihin-Tohoku, Utsunomiya, Takasaki, Shonan-Shinjuku and Ueno-Tokyo lines
- Completion: May 7, 2026
- Number of Floors: 3F (steel-frame and reinforced concrete construction) *As registered for the sectional ownership to be acquired
- Use: Retail
- Area: Site area of approximately 3,196 tsubo (approx. 113,700 sq. ft.) (entire Urawa Calue) / Gross Floor Area of approximately 2,174 tsubo (approx. 77,400 sq. ft.) (acquired section)
- Number of Tenants: 1 (BicCamera Inc.)
- Property Manager: Daiwa House Realty Management Co., Ltd.
- Occupancy: 100.0% (as of August 31, 2026)
