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MIRARTH REIT to Acquire Seven Properties for JPY 17.4 Billion, Sell Two Assets

Multifamily

MIRARTH REIT to Acquire Seven Properties for JPY 17.4 Billion, Sell Two Assets

MIRARTH REIT announced it will acquire a total of seven properties—three residential assets, two office buildings, one retail property, and one hotel—for approximately JPY 17.4 billion. The scheduled acquisition date is March 3, 2026. In addition, the REIT will dispose of two assets—a residential property and a retail property—for approximately JPY 2.7 billion.

The acquired assets comprise three residential properties, two office buildings, one retail property, and one hotel. The largest acquisition is Tonarie Hoshida, a retail property in Katano City, Osaka Prefecture, for JPY 4.654 billion. Six of the seven properties are relatively new, with the exception of the Jozenji-dori Square Building (Sendai City), which was completed in 1987.

Among the residential assets, LUXENA Yokohama Tsurumi is currently in the lease-up phase with an occupancy rate of 72.1%, though its relatively recent completion supports expectations for further occupancy gains. The Jozenji-dori Square Building, completed in 1987, maintains a high occupancy rate of 94.7% despite its 38-year age, benefiting from its prime location along Jozenji-dori Avenue. The REIT has also continued to expand its hotel investments, having acquired a hotel in the Makuhari area for approximately JPY 4.7 billion in January 2026 (see related article: “MIRARTH REIT Acquires Hotel in Makuhari Area for JPY 4.7 Billion”).

The two properties to be sold are La Vita Higashi-Ueno, a rental apartment building in Taito Ward, Tokyo, for JPY 1.365 billion, and Prio Daimyo II, a retail property in Chuo Ward, Fukuoka City, for JPY 1.35 billion. Both assets are being sold at prices exceeding their appraised values, crystallizing unrealized gains through strategic asset recycling. By disposing of relatively smaller assets, the REIT aims to enhance portfolio efficiency. Following the acquisitions and dispositions, the portfolio will comprise 77 properties with a total acquisition cost of approximately JPY 193.1 billion.

Key Facts

  • Property Name: LUXENA Yokohama Tsurumi

  • Acquisition Price: JPY 1.95 billion

  • Appraised Value: JPY 2.46 billion

  • Location: 4-25-13 Tsurumi-Chuo, Tsurumi Ward, Yokohama City, Kanagawa Prefecture

  • Completion: June 2023

  • Number of Floors: 11F

  • Gross Floor Area: Approx. 753 tsubo (approx. 24,893 sq. ft.)

  • Occupancy: 72.1%

  • Property Name: Luminous Hachimanyama

  • Acquisition Price: JPY 3.216 billion

  • Appraised Value: JPY 3.49 billion

  • Location: 1-11-3 Kamitakaido, Suginami Ward, Tokyo

  • Completion: January 2024

  • Number of Floors: 5F

  • Gross Floor Area: Approx. 740 tsubo (approx. 24,463 sq. ft.)

  • Occupancy: 100.0%

  • Property Name: Luminous Katsuyama Higashi

  • Acquisition Price: JPY 1.05 billion

  • Appraised Value: JPY 1.24 billion

  • Location: 12-30 Tsukiyama-cho, Matsuyama City, Ehime Prefecture

  • Completion: December 2023

  • Number of Floors: 15F

  • Gross Floor Area: Approx. 1,146 tsubo (approx. 37,884 sq. ft.)

  • Occupancy: 91.9%

  • Property Name: L.Biz Gofukumachi

  • Acquisition Price: JPY 1.742 billion

  • Appraised Value: JPY 2.08 billion

  • Location: 7-20 Naraya-machi, Hakata Ward, Fukuoka City, Fukuoka Prefecture

  • Completion: January 2023

  • Number of Floors: 9F

  • Gross Floor Area: Approx. 812 tsubo (approx. 26,843 sq. ft.)

  • Occupancy: 100.0%

  • Property Name: Jozenji-dori Square Building

  • Acquisition Price: JPY 3.305 billion

  • Appraised Value: JPY 3.5 billion

  • Location: 3-1-11 Kokubuncho, Aoba Ward, Sendai City, Miyagi Prefecture

  • Completion: December 1987

  • Number of Floors: 9F / B1

  • Gross Floor Area: Approx. 2,131 tsubo (approx. 70,446 sq. ft.)

  • Occupancy: 94.7%

  • Property Name: Tonarie Hoshida

  • Acquisition Price: JPY 4.654 billion

  • Appraised Value: JPY 4.83 billion

  • Location: 6-15-1 Hoshida Kita, Katano City, Osaka Prefecture

  • Completion: February 2023

  • Number of Floors: 2F

  • Gross Floor Area: Approx. 2,443 tsubo (approx. 80,760 sq. ft.)

  • Occupancy: 100.0%

  • Property Name: Toyoko Inn Kasukabe Station West

  • Acquisition Price: JPY 1.472 billion

  • Appraised Value: JPY 1.66 billion

  • Location: 1-56-6 Chuo, Kasukabe City, Saitama Prefecture

  • Completion: November 2022

  • Number of Floors: 14F

  • Gross Floor Area: Approx. 1,343 tsubo (approx. 44,397 sq. ft.)

  • Occupancy: 100.0%

Key Facts

  • Property Name: La Vita Higashi-Ueno

  • Disposition Price: JPY 1.365 billion

  • Scheduled Disposition Date: March 28, 2026

  • Appraised Value: JPY 1.26 billion

  • Location: 1-19-7 Higashi-Ueno, Taito Ward, Tokyo

  • Use: Residential / Retail

  • Occupancy: 100.0%

  • Property Name: Prio Daimyo II

  • Disposition Price: JPY 1.35 billion

  • Scheduled Disposition Date: March 28, 2026

  • Appraised Value: JPY 1.18 billion

  • Location: 1-13-19 Daimyo, Chuo Ward, Fukuoka City, Fukuoka Prefecture

  • Use: Retail / Office

  • Occupancy: 100.0%