Daiwa Securities Living Investment to Sell Rental Apartment in Adachi Ward for JPY 730 Million
Daiwa Securities Living Investment Corp. announced on August 20, 2026, that it will sell Profit Link Takenotsuka, a rental apartment building in Takenotsuka, Adachi Ward, Tokyo. The planned sale price is JPY 730 million, with the transfer scheduled for September 24 of the same year.
The property is a 12-minute walk from Takenotsuka Station on the Tobu Skytree Line. Completed in 1990, the six-story building comprises 46 family-type units.
The REIT had held the property for about 21 years since December 2005. The chart below shows the trends in NOI and the appraisal cap rate since acquisition. During the holding period, semiannual NOI moved up and down at around JPY 20 million. The appraisal cap rate, meanwhile, declined by as much as 2.1 points, from 6.5% around 2009 to 2011 to 4.4% in 2023 to 2024.
Occupancy has also been stable at 95% or higher over the past five months and stood at 100% as of March 2026. In deciding to sell, the REIT weighed factors including the property's future earnings prospects, its size and location, and conditions in the real estate transaction market. The sale will unlock unrealized gains on a long-held asset, and the REIT expects a gain on sale of approximately JPY 94 million. After the disposition, its portfolio will comprise 239 properties with an asset size of JPY 399.7 billion on an acquisition-price basis.
Key Facts
- Property Name: Profit Link Takenotsuka
- Seller: Daiwa Securities Living Investment Corporation
- Buyer: Undisclosed (domestic corporation)
- Contract Date: August 20, 2026
- Scheduled Transfer Date: September 24, 2026
- Planned Sale Price: JPY 730 million
- Appraisal Value: JPY 719 million (as of March 31, 2026; Tanizawa Sogo Appraisal Co., Ltd.)
- Book Value: approximately JPY 603 million
- Location: 3-5-18 Takenotsuka, Adachi Ward, Tokyo
- Nearest Station: 12-minute walk from Takenotsuka Station on the Tobu Skytree Line
- Completion: February 1990
- Number of Floors: 6F (reinforced concrete construction)
- Total Units: 46
- Area: Site area of approximately 394 tsubo (approx. 14,000 sq. ft.) / Gross Floor Area of approximately 756 tsubo (approx. 26,900 sq. ft.) / Leasable area of approximately 735 tsubo (approx. 26,200 sq. ft.)
- Occupancy: 100% (as of the end of March 2026)
- Acquisition Date: December 15, 2005
