Marimo Regional Revitalization REIT Buys Fully Leased Residential Property Near Ōura-Kaigan-dōri Station for JPY 870M
Marimo Regional Revitalization REIT, Inc. has agreed to acquire a residential asset, Artiza Nagasaki Mizubeno Mori, located in Ōura-machi, Nagasaki City. The decision to acquire and the purchase agreement were executed on August 19, with closing scheduled for August 27. The purchase price is JPY 870 million, to be fully funded with the REIT’s own capital. The appraised value is JPY 917 million, with an appraisal NOI yield of 5.3%. The property is fully occupied under a master lease agreement with Marimo Co., structured as a pass-through type.
The property is a three-minute walk from Ōura-Kaigan-dōri Station on the Nagasaki Electric Tramway Ōura Line, close to tourist attractions such as Ōura Church and Glover Garden, as well as essential infrastructure including hospitals. With large-scale redevelopment projects and restoration of historic buildings underway in Nagasaki City, the area is well-positioned to meet a wide range of residential needs, including short-term stays. Completed in 2019, the building is a 10-story reinforced concrete structure with a site area of 495.12㎡ (approx. 5,330 sq. ft.) and a gross floor area of 1,804.26㎡ (approx. 19,420 sq. ft.). The total leasable area is 2,081.04㎡ (approx. 22,400 sq. ft.), occupied by a single tenant.
The REIT operates under the philosophy of “Strengthening Japan from the Regions,” with a diversified portfolio focused on residential properties while also investing in retail and hotel assets. Its strategy aims to generate stable income and enhance unitholder value over the medium to long term. This latest acquisition aligns with its policy of emphasizing residential-led diversification.
Key Facts
Property Name: Artiza Nagasaki Mizubeno Mori (current name: MODERNPALAZZO Mizubeno Mori)
Buyer: Marimo Regional Revitalization REIT, Inc.
Seller: Not disclosed
Transaction Price: JPY 870 million
Location: 7-20 Ōura-machi, Nagasaki City, Nagasaki Prefecture
Nearest Station: Ōura-Kaigan-dōri Station, Nagasaki Electric Tramway Ōura Line (3-minute walk)
Completion: February 15, 2019
Number of Floors: 10F
Total Units: 96
Gross Floor Area: 1,804.26㎡ (approx. 19,420 sq. ft.)