Mitsui Fudosan Accommodation Fund To Acquire Omori Rental Housing for JPY 3.13 Billion
Mitsui Fudosan Accommodation Fund Investment Corp. will acquire PARK CUBE Omori Sanno (current name: Prie Sanno), a rental apartment building in Sanno 1-chome, Ota Ward, Tokyo, on Sept. 1, 2026. The planned acquisition price is JPY 3.13 billion. The seller is Chayamachi Real Estate, headquartered in Kita Ward, Osaka, and the purchase and sale agreement was signed on Aug. 26 of the same year.
The property is a nine-minute walk from Omori Station on the JR Keihin-Tohoku Line. Completed in January 2025, the four-story building has 63 units in total. It targets mainly single occupants and small households, and occupancy stood at 88.4% as of the end of July 2026.
The area around Omori Station offers retail and other everyday amenities, with access to Tokyo Station in about 21 minutes. Occupancy for rental housing within a 10-minute walk of the station was about 98.5% as of the end of July 2026. The property is below that neighborhood average, leaving room for occupancy to rise (compiled by the editorial team based on estie Residential Research). The appraisal NOI yield on the planned acquisition price is approximately 3.7%.
In April 2026, the REIT acquired PARK AXIS Oshiage Residence and PARK AXIS Nishi-Magome from Mitsui Fudosan Residential, a Mitsui Fudosan Group company and its sponsor. In June, it acquired PARK CUBE Hachioji from Shinwa Fudosan. This deal likewise involves acquiring a recently built rental housing property from outside the Mitsui Fudosan Group and incorporating it under the PARK CUBE brand, continuing a pattern of buying assets from both its sponsor and third parties.
After this acquisition, the portfolio will comprise 144 properties worth about JPY 358.8 billion on an acquisition-price basis. Rental housing accounts for 93.1% of the total, and properties in Tokyo's 23 wards account for 88.6% of that rental housing.
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- Mitsui Fudosan Accommodation Fund to Acquire Two Tokyo Multifamily Assets for JPY 2.6 Billion, Sell Fukuoka Property
Key Facts
- Property Name: PARK CUBE Omori Sanno (current name: Prie Sanno)
- Buyer: Mitsui Fudosan Accommodation Fund Investment Corporation
- Seller: Chayamachi Real Estate Co., Ltd.
- Broker: Nomura Real Estate Solutions Co., Ltd.
- Planned Acquisition Price: JPY 3.13 billion
- Appraisal Value: JPY 3.23 billion (as of August 1, 2026; Japan Real Estate Institute)
- Appraisal NOI Yield: 3.7%
- Capitalization Rate: 3.5%
- Agreement Date: August 26, 2026
- Scheduled Acquisition Date: September 1, 2026
- Location: 1-33-12 Sanno, Ota-ku, Tokyo
- Nearest Station(s): Nine-minute walk from Omori Station on the JR Keihin-Tohoku Line
- Completion: January 2025
- Number of Floors: 4F (reinforced concrete construction)
- Total Units: 63
- Area: Site area of approximately 419 tsubo (approx. 14,900 sq. ft.) / Gross Floor Area of approximately 712 tsubo (approx. 25,300 sq. ft.)
- Occupancy: 88.4% (as of July 31, 2026)
- Master Lease Company: Mitsui Fudosan Residential Lease Co., Ltd.
