NTT UD REIT To Acquire Rental Apartment Property in Osaka’s Naniwa Ward
NTT UD REIT Investment Corp. will acquire Mirage Palace Namba Curva, a rental apartment property in Ashihara, Naniwa Ward, Osaka City, on July 31, 2026. The planned acquisition price is JPY 1.05 billion, and the agreement was signed June 17, 2026. The seller is a domestic corporation.
The property is a 10-story building completed in October 2024, with a Gross Floor Area of approximately 468 tsubo (approx. 16,700 sq. ft.). It consists of 54 units with 1K, 1DK and 1LDK layouts, and occupancy was 98.2% as of the end of April 2026. The property is located a six-minute walk from Ashiharacho Station on the Nankai Koya Line and a seven-minute walk from Ashiharabashi Station on the JR Osaka Loop Line. JR Namba Station is also within walking distance.
Average asking rents for rental apartments with 1K to 1LDK layouts within a 10-minute walk of Ashiharacho Station rose approximately 23% over the past four years, from about JPY 9,100 per tsubo to about JPY 11,200 per tsubo, indicating steady demand for rental housing geared toward single renters. Large-scale supply is also moving forward, including three rental apartment properties geared toward single renters, each with 150 to 200 units, completed in March 2026, according to a survey by the editorial team based on estie Residential Research. The Naniwasuji Line, which will connect Osaka Station with JR Namba Station and Shin-Imamiya Station, is scheduled to open in 2031, and is expected to improve access to the Umeda area.
The REIT has been pursuing asset replacements aimed at objectives including lowering the average age of its portfolio, and this transaction is part of that strategy. After the acquisition, three of the REIT’s 37 residential properties will be located outside Tokyo’s 23 wards. In Osaka Prefecture, this will be its second property, following La Douceur Miyakojima Takakuracho. （see related article:NTT Urban Development REIT Expands in Kansai With Acquisition of Osaka Rental Residence）
Key Facts
- Property Name: Mirage Palace Namba Curva
- Buyer: NTT UD REIT Investment Corp.
- Seller: Domestic corporation; name not disclosed
- Planned Acquisition Price: JPY 1.05 billion
- Appraisal Value: JPY 1.1 billion as of May 1, 2026, by Japan Real Estate Institute
- Appraisal NOI Yield: 4.2%
- Agreement Date: June 17, 2026
- Scheduled Acquisition Date: July 31, 2026
- Location: 2-1-24 Ashihara, Naniwa Ward, Osaka City, Osaka Prefecture
- Nearest Stations: Six-minute walk from Ashiharacho Station on the Nankai Electric Railway Koya Line; seven-minute walk from Ashiharabashi Station on JR West’s Osaka Loop Line
- Completion: October 2024
- Number of Floors: 10F; reinforced concrete construction
- Area: Site area of approximately 109 tsubo (approx. 3,900 sq. ft.); Gross Floor Area of approximately 468 tsubo (approx. 16,700 sq. ft.)
- Total Units: 54
- Occupancy: 98.2% as of the end of April 2026
- Property Manager: Good Real Estate Co.