KDX Realty Investment Corp. To Acquire Rental Apartment, Logistics Facility and Sell Retail Land Interests

KDX Realty Investment Corp. decided June 25, 2026, to acquire a rental apartment property and a logistics facility, and to sell two land interests underlying retail properties. The properties to be acquired are KDX Residence Nakano-fujimicho, formerly DeLCCS Nakano-fujimicho, and KDX Logistics Fukuoka Airport, with a combined acquisition price of approximately JPY 7.4 billion. The properties to be sold are Across Plaza Urayasu Higashino, land interest, and Seiyu Rakuichi Moriya, land interest, with a combined planned disposition price of approximately JPY 7.5 billion.

Among the properties to be acquired, KDX Residence Nakano-fujimicho is a family-type rental apartment property completed in 1990 with five floors above ground. It is located a six-minute walk from Nakano-fujimicho Station on the Tokyo Metro Marunouchi Line. The acquisition price is approximately JPY 2.8 billion, and the seller is Dear Life. KDX Logistics Fukuoka Airport is a logistics facility consisting of two buildings completed in 1988, with five floors above ground. It is located near Fukuoka Airport, about a 15-minute drive from Hakata Station. The planned acquisition price is approximately JPY 4.6 billion. The seller was not disclosed, but the registered beneficiary as of June 25, 2026, was ML Estate.

The properties to be sold are both land interests underlying roadside shopping centers. Across Plaza Urayasu Higashino, land interest, is located in Higashino, Urayasu City, Chiba Prefecture, and has a planned disposition price of approximately JPY 2.7 billion. Seiyu Rakuichi Moriya, land interest, is located in Keyakidai, Moriya City, Ibaraki Prefecture, and has a planned disposition price of approximately JPY 4.8 billion. The buyer for both properties is Jinushi Co.

Regarding the transaction, the investment corporation said it will acquire a family-type rental apartment property in Tokyo, where rental demand is expected, and a logistics facility near Fukuoka Airport, where demand as a distribution base for consumer markets is expected. At the same time, it will sell two land interests underlying retail properties, which it has determined have limited room for rent growth because of long-term fixed lease agreements.

The investment corporation has also recently been moving forward with dispositions of land interests underlying retail properties. In June 2026, it decided to sell the land interest underlying Life Takadono, a retail property in Asahi Ward, Osaka, to Hankyu Hanshin REIT Inc.（see related article:Hankyu Hanshin REIT To Acquire Retail Land in Osaka’s Asahi Ward From KDX Realty Investment）. In an inflationary environment, the investment corporation is selling land interests underlying retail properties that offer limited upside to income from rent increases, while reallocating its portfolio toward assets where demand is expected to grow.

Acquisition Property Overview

• Property Name: KDX Residence Nakano-fujimicho, formerly DeLCCS Nakano-fujimicho
• • Buyer: KDX Realty Investment Corp.
  • Seller: Dear Life Co.
  • Location: 4-35-10 Yayoicho, Nakano Ward, Tokyo
  • Nearest Station: Six-minute walk from Nakano-fujimicho Station on the Tokyo Metro Marunouchi Line
  • Planned Acquisition Price: JPY 2.83 billion
  • Appraised Value: JPY 3.01 billion, as of June 1, 2026, by Japan Real Estate Institute
  • Appraised NOI Yield: 4.2%
  • Planned Acquisition Date: June 25, 2026
  • Completion: July 1990
  • Number of Floors: 5F / B1, reinforced concrete structure
  • Area: Site area of approximately 501 tsubo (approx. 17,800 sq. ft.); Gross Floor Area of approximately 1,103 tsubo (approx. 39,200 sq. ft.)
  • Leasable Units: 26
  • Occupancy: 88.4%, as of the end of April 2026
• Property Name: KDX Logistics Fukuoka Airport
• • Buyer: KDX Realty Investment Corp.
  • Seller: Not disclosed, registered beneficiary: ML Estate Co.
  • Location: 1-10-1 Itazuke, Hakata Ward, Fukuoka City, Fukuoka Prefecture
  • Nearest Interchange: Approximately 600 meters from Tsukiguma Interchange on the Fukuoka Urban Expressway Circular Route
  • Planned Acquisition Price: JPY 4.598 billion
  • Appraised Value: JPY 4.63 billion, as of June 1, 2026, by Tanizawa Sogo Appraisal Co.
  • Appraised NOI Yield: 4.1%
  • Planned Acquisition Date: July 1, 2026
  • Completion: January 1988
  • Number of Floors: Building 1: 5F; Building 2: 4F, steel-framed reinforced concrete structure
  • Area: Site area of approximately 2,277 tsubo (approx. 81,000 sq. ft.); Gross Floor Area of approximately 4,381 tsubo (approx. 155,900 sq. ft.)
  • Leasable Area: Approximately 4,429 tsubo (approx. 157,600 sq. ft.)
  • Number of Tenants: 1
  • Occupancy: 100%

Disposition Property Overview

• Property Name: Across Plaza Urayasu Higashino, land interest
• • Buyer: Jinushi Co.
  • Seller: KDX Realty Investment Corp.
  • Location: 3-11-4 Higashino, Urayasu City, Chiba Prefecture
  • Access: Eight minutes by bus from Urayasu Station on the Tokyo Metro Tozai Line
  • Planned Disposition Price: JPY 2.68 billion
  • Appraised Value: JPY 2.61 billion, as of April 30, 2026, by Daiwa Real Estate Appraisal Co.
  • Planned Disposition Date: Nov. 2, 2026
  • Site Area: Approximately 1,884 tsubo (approx. 67,000 sq. ft.)
  • Number of Tenants: 1
  • Occupancy: 100%
• Property Name: Seiyu Rakuichi Moriya, land interest
• • Buyer: Jinushi Co.
  • Seller: KDX Realty Investment Corp.
  • Location: 4-1-5 Keyakidai, Moriya City, Ibaraki Prefecture
  • Nearest Station: 11-minute walk from Minami-Moriya Station on the Kanto Railway Joso Line
  • Planned Disposition Price: JPY 4.77 billion
  • Appraised Value: JPY 4.63 billion, as of April 30, 2026, by Daiwa Real Estate Appraisal Co.
  • Planned Disposition Date: Nov. 2, 2026
  • Site Area: Approximately 11,937 tsubo (approx. 424,700 sq. ft.)
  • Number of Tenants: 1
  • Occupancy: 100%