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Daiwa House REIT To Acquire Ikebukuro Hotel for JPY 11.5 Billion, Sell Three Properties

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Daiwa House REIT To Acquire Ikebukuro Hotel for JPY 11.5 Billion, Sell Three Properties

Daiwa House REIT To Acquire Ikebukuro Hotel for JPY 11.5 Billion, Sell Three Properties

Daiwa House REIT Investment Corp. will acquire on Sept. 1, 2026, the real estate trust beneficiary interest in MIMARU TOKYO IKEBUKURO, an apartment hotel in Toshima Ward, Tokyo. The planned acquisition price is JPY 11.502 billion, and the seller is Fuyo General Lease. At the same time, it will sell three properties located in Naha; Inuyama, Aichi Prefecture; and Kaita, Hiroshima Prefecture, for a combined JPY 14.71 billion.

MIMARU TOKYO IKEBUKURO is a five-minute walk from Ikebukuro Station. Completed in 2022, the 14-story building has 107 guest rooms. Every room has a kitchen, and the average room size is approximately 45 sq. m (approx. 500 sq. ft.). The hotel targets inbound travelers, groups and medium- to long-term guests. Rent combines a fixed component with a variable component linked to the hotel's gross operating profit (GOP), and the appraisal NOI yield on the planned acquisition price is 5.8%.

The assets to be sold are a 50% quasi-co-ownership interest in Naha Shintoshin Center Building, the additionally acquired building at the D Project Inuyama logistics facility, and the land underlying the Hapias Kaita retail property. The Naha interest will be sold to co-owner ORIX JREIT in five tranches from August 2026 through August 2028 for a total of JPY 10.6 billion. The REIT expects a combined gain on sale of about JPY 4.57 billion from the three properties, and by spreading the Naha disposition across five fiscal periods it aims to smooth those gains and steadily raise its distribution level.

The REIT acquired Daiwa Roynet Hotel Nishi-Shinjuku for about JPY 10.2 billion in November 2025 and plans to acquire Amanek Kumamoto for JPY 4.75 billion in December 2026. While selling logistics facilities and land holdings that offer limited internal growth, it is stepping up investment in hotels, where variable rents can drive earnings growth. Once the series of transactions is complete, its hotel holdings will total 10 properties worth about JPY 53.77 billion on an acquisition-price basis, accounting for 5.8% of the portfolio.

Acquisition Property Overview

  • Property Name: MIMARU TOKYO IKEBUKURO
    • Buyer: Daiwa House REIT Investment Corporation
    • Seller: Fuyo General Lease Co., Ltd.
    • Acquisition Target: Real estate trust beneficiary interest
    • Trustee: Sumitomo Mitsui Trust Bank, Limited
    • Planned Acquisition Price: JPY 11.502 billion
    • Appraisal Value: JPY 17.2 billion (as of June 30, 2026; Tanizawa Sogo Appraisal Co., Ltd.)
    • Appraisal NOI Yield: 5.8%
    • Scheduled Agreement Date: September 1, 2026
    • Scheduled Acquisition Date: September 1, 2026
    • Location: 2-61-1 Ikebukuro, Toshima-ku, Tokyo
    • Nearest Station(s): Five-minute walk from Ikebukuro Station on the JR Yamanote, Saikyo and Shonan-Shinjuku Lines, the Tokyo Metro Marunouchi, Yurakucho and Fukutoshin Lines, the Seibu Ikebukuro Line and the Tobu Tojo Line
    • Completion: April 2022
    • Number of Floors: 14F (steel-frame construction)
    • Number of Guest Rooms: 107
    • Area: Site area of approximately 233 tsubo (approx. 8,300 sq. ft.) / Gross Floor Area of approximately 1,803 tsubo (approx. 64,200 sq. ft.)
    • Occupancy: 100.0% (as of February 28, 2026)
    • Operator: Cosmos Hotel Management Co., Ltd.
    • Master Lease and PM Company: Daiwa House Realty Mgt. Co., Ltd.

Disposition Property Overview

  • Property Name: Naha Shintoshin Center Building (Daiwa Roynet Hotel Naha Omoromachi)
    • Seller: Daiwa House REIT Investment Corporation
    • Buyer: ORIX JREIT Inc.
    • Disposition Target: 50% quasi-co-ownership interest in a real estate trust beneficiary interest
    • Planned Disposition Price: JPY 10.6 billion
    • Estimated Book Value: JPY 6.647 billion
    • Gain on Sale: JPY 3.896 billion
    • Scheduled Disposition Date: August 31, 2026 to August 31, 2028 (a 10% quasi-co-ownership interest in each of five tranches)
    • Location: 1-1-12 Omoromachi, Naha, Okinawa Prefecture
    • Nearest Station(s): Five-minute walk from Omoromachi Station on the Okinawa Urban Monorail Line
    • Completion: July 2011
    • Number of Floors: 19F / B1 (steel-frame construction)
    • Use: Office / Retail / Hotel
    • Area: Site area of approximately 2,384 tsubo (approx. 84,800 sq. ft.) / Gross Floor Area of approximately 10,340 tsubo (approx. 367,900 sq. ft.) (entire building)
    • Occupancy: 98.1% (as of February 28, 2026)
  • Property Name: D Project Inuyama (additionally acquired building)
    • Seller: Daiwa House REIT Investment Corporation
    • Buyer: Undisclosed
    • Disposition Target: Real estate trust beneficiary interest
    • Planned Disposition Price: JPY 2.52 billion
    • Estimated Book Value: JPY 1.949 billion
    • Gain on Sale: JPY 557 million
    • Scheduled Disposition Date: September 1, 2026
    • Location: 5-45 Aza Takanehora, Inuyama, Aichi Prefecture
    • Completion: January 2012
    • Number of Floors: 3F (steel-frame construction)
    • Use: Logistics facility
    • Area: Site area of approximately 3,175 tsubo (approx. 113,000 sq. ft.) / Gross Floor Area of approximately 2,995 tsubo (approx. 106,600 sq. ft.)
    • Occupancy: 100.0% (as of February 28, 2026)
  • Property Name: Hapias Kaita (land)
    • Seller: Daiwa House REIT Investment Corporation
    • Buyer: Daiwa House Realty Mgt. Co., Ltd.
    • Disposition Target: Land
    • Planned Disposition Price: JPY 1.59 billion
    • Estimated Book Value: JPY 1.471 billion
    • Gain on Sale: JPY 114 million
    • Scheduled Disposition Date: September 28, 2026
    • Location: 1262-11 Une 2-chome, Kaita-cho, Aki-gun, Hiroshima Prefecture
    • Area: Site area of approximately 4,058 tsubo (approx. 144,400 sq. ft.)
    • Occupancy: 100.0% (as of February 28, 2026)

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