Osaka Gas Urban Development Sells Urbanex Ichigaya-Yanagicho Rental Apartment Building
Osaka Gas Urban Development sold the real estate trust beneficiary rights in Urbanex Ichigaya-Yanagicho, a rental apartment building in Ichigaya-Yanagicho, Shinjuku-ku, Tokyo, in March 2026. The buyer was PPFA Japan Three TMK.
The property is a two-minute walk from Ushigome-Yanagicho Station on the Toei Oedo Line. Completed in 2009, the 12-story building has 58 units in studio, 1K and one-bedroom layouts. It was developed by Nomura Real Estate and acquired in 2010 by Urbanex, now Osaka Gas Urban Development, making for a holding period of about 15 and a half years.
Average asking rents for studio to one-bedroom rental housing within a five-minute walk of three stations in the Ushigome area of northeastern Shinjuku Ward were compared: Ushigome-Yanagicho, Kagurazaka and Waseda. Over the three years through July 2026, Ushigome-Yanagicho rose approximately 21%, Waseda approximately 20% and Kagurazaka approximately 29% (compiled by the editorial team based on estie Residential Research).
Osaka Gas Urban Development operates the Urbanex rental apartment brand. In 2023 it began managing Osaka Gas Urban Development Private Reit Investment Corporation, a private REIT that targets residential assets including the Urbanex brand as its principal investments. The company has sold properties such as Urbanex Osakajo WEST and Urbanex Minami-Horie to that investment corporation, but this transaction was a sale to a special purpose company.
Key Facts
- Property Name: Urbanex Ichigaya-Yanagicho
- Seller: Osaka Gas Urban Development Co., Ltd.
- Buyer: PPFA Japan Three TMK
- Asset Transferred: Real estate trust beneficiary rights
- Transfer Date: March 12, 2026
- Location: 25 Ichigaya-Yanagicho, Shinjuku-ku, Tokyo
- Nearest Station: Two-minute walk from Ushigome-Yanagicho Station on the Toei Oedo Line
- Completion: September 2009
- Number of Floors: 12F (reinforced concrete construction)
- Use: Apartment / Bank
- Total Units: 58
- Unit Layouts: Studio to one-bedroom (1R / 1K / 1LDK)
- Area: Gross Floor Area of approximately 882 tsubo (approx. 31,400 sq. ft.)