HEIWA REAL ESTATE REIT to Acquire Two Rental Housing Properties in Edogawa Ward, Tokyo

HEIWA REAL ESTATE REIT, Inc. announced on July 31, 2026, that it will acquire two rental housing properties in Mizue, Edogawa Ward, Tokyo. The properties to be acquired are HF Mizue Residence and HF Higashi-Mizue Residence. The scheduled acquisition date is August 7, 2026, and the total scheduled acquisition price is JPY 2.8 billion.

HF Mizue Residence is located a nine-minute walk north of Mizue Station on the Toei Shinjuku Line. Completed in March 2024, the building has eight above-ground floors and 44 units in total, comprising unit types from 1K to 3LDK, targeting mainly single occupants and DINKs households. HF Higashi-Mizue Residence is located a nine-minute walk south of Mizue Station. Completed in January 2024, the building has six above-ground floors and 32 units in total.

The average asking rent for 1K-2LDK rental apartments within a ten-minute walk of Mizue Station has risen approximately 21% over the past three years, reaching JPY 10,470 per tsubo as of the end of June 2026 (research by the editorial team based on estie Residential Research). Demand remains firm, supported by accessibility to central Tokyo and the convenience of the area around the station.

Following the acquisitions, the portfolio will total JPY 281.264 billion on an acquisition price basis, of which residential properties will account for approximately 46%. The proportion of residential properties located in Tokyo's 23 wards will be approximately 71% on an acquisition price basis, and this acquisition expands the portfolio's holdings of relatively new residential properties in central Tokyo.

Key Facts

• Buyer: HEIWA REAL ESTATE REIT, Inc.
• Total Scheduled Acquisition Price: JPY 2.8 billion
• Total Appraisal Value: JPY 3.06 billion
• Property Name: HF Mizue Residence (Name Before Acquisition: S-Residence Mizue)
• • Acquisition Method: Real estate trust beneficiary interest
  • Seller: Undisclosed (a domestic special purpose company)
  • Location: 31-8 Mizue 2-chome, Edogawa Ward, Tokyo
  • Nearest Station(s): Nine-minute walk from Mizue Station on the Toei Shinjuku Line
  • Contract Date: July 31, 2026
  • Scheduled Acquisition Date: August 7, 2026
  • Scheduled Acquisition Price: JPY 1.69 billion
  • Appraisal Value: JPY 1.82 billion (as of July 1, 2026, Japan Real Estate Institute)
  • NOI Yield: 4.1%
  • Completion: March 2024
  • Number of Floors: 8F (reinforced concrete construction)
  • Area: Site area of approximately 214 tsubo (approx. 7,600 sq. ft.) / Gross Floor Area of approximately 542 tsubo (approx. 19,300 sq. ft.) / Leasable Area of approximately 476 tsubo (approx. 16,900 sq. ft.)
  • Number of Leasable Units: 44
  • Unit Types: 1K-3LDK (25.08-71.41 sq. m (approx. 300-800 sq. ft.))
  • Occupancy: 82.1% (as of June 30, 2026)
  • Property Manager: Tokyu Housing Lease Corporation
• Property Name: HF Higashi-Mizue Residence (Name Before Acquisition: Alivis Higashi-Mizue)
• • Acquisition Method: Real estate trust beneficiary interest
  • Seller: Undisclosed (a domestic special purpose company)
  • Location: 6-6 Higashi-Mizue 1-chome, Edogawa Ward, Tokyo
  • Nearest Station(s): Nine-minute walk from Mizue Station on the Toei Shinjuku Line
  • Contract Date: July 31, 2026
  • Scheduled Acquisition Date: August 7, 2026
  • Scheduled Acquisition Price: JPY 1.11 billion
  • Appraisal Value: JPY 1.24 billion (as of July 1, 2026, Japan Real Estate Institute)
  • NOI Yield: 4.2%
  • Completion: January 2024
  • Number of Floors: 6F (reinforced concrete construction)
  • Area: Site area of approximately 112 tsubo (approx. 4,000 sq. ft.) / Gross Floor Area of approximately 346 tsubo (approx. 12,300 sq. ft.) / Leasable Area of approximately 322 tsubo (approx. 11,500 sq. ft.)
  • Number of Leasable Units: 32
  • Unit Types: 1K-2LDK (25.35-50.25 sq. m (approx. 300-500 sq. ft.))
  • Occupancy: 90.5% (as of June 30, 2026)
  • Property Manager: Tokyu Housing Lease Corporation