Mitsui Fudosan Accommodation Fund Acquires Nakano Rental Housing for JPY 1.61 Billion
Mitsui Fudosan Accommodation Fund, Inc. acquired Park Cube Nakano North (currently named CRÉATIF Nakano), a rental apartment building in Arai 1-chome, Nakano Ward, Tokyo, on October 1, 2026. The acquisition price was JPY 1.61 billion, with the sale and purchase agreement signed and delivery completed the same day.
The property is located along Nakano-dori Avenue, a nine-minute walk from "Nakano" Station on the JR Chuo Line and Tokyo Metro Tozai Line. Completed in March 2023, it is a nine-story building above ground with 32 studio (1R) and one-room (1K) units. Occupancy stood at 96.6% as of the end of August 2026. The appraisal NOI yield against the acquisition price is approximately 3.3%. Master lease and property management are handled by Mitsui Fudosan Residential Lease.
In August 2026, the REIT acquired Park Cube Omori, a relatively new rental residential property for singles and small households in Omori, for approximately JPY 3.1 billion. Following this acquisition, its portfolio comprises 145 properties with a total acquisition price of JPY 360.435 billion.
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Key Facts
- Property Name: Park Cube Nakano North (currently named CRÉATIF Nakano)
- Buyer: Mitsui Fudosan Accommodation Fund, Inc.
- Seller: Undisclosed (a domestic godo kaisha)
- Asset Acquired: Real estate (acquired as a trust beneficiary interest, with the trust terminated as of October 1, 2026)
- Acquisition Price: JPY 1.61 billion
- Appraisal Value: JPY 1.64 billion (as of August 31, 2026, Tanizawa Sogo Appraisal Co., Ltd.)
- Appraisal NOI Yield (based on acquisition price): approximately 3.3%
- Contract and Acquisition Date: October 1, 2026
- Location: 1-38-4 Arai, Nakano-ku, Tokyo
- Nearest Station: JR Chuo Line and Tokyo Metro Tozai Line “Nakano” Station (9 min walk)
- Completion: March 2023
- Number of Floors: 9F (reinforced concrete construction)
- Use: Multi-unit residential
- Leasable Units: 32 (1R and 1K)
- Site Area: approximately 65 tsubo (approx. 2,300 sq. ft.) / Gross Floor Area: approximately 303 tsubo (approx. 10,800 sq. ft.) / Leasable Area: approximately 252 tsubo (approx. 9,000 sq. ft.)
- Occupancy: 96.6% (as of August 31, 2026)
- Master Lease Company: Mitsui Fudosan Residential Lease Co., Ltd.
- Property Management Company: Mitsui Fudosan Residential Lease Co., Ltd.
