Heiwa Real Estate REIT, Inc. announced that it will acquire an office building in Akishima, Tokyo, for ¥2.23 billion. The purchase and sale agreement is scheduled to be signed on 24 September, with the acquisition scheduled for 29 September.
Heiwa Real Estate REIT, Inc. announced that it will acquire HF Akishima-Ekimae Building, an office building in Akishima (currently known as Akishima Showa No. 2 Building). The planned acquisition price is ¥2.23 billion. The seller is a domestic operating company whose name has not been disclosed. The purchase and sale agreement is scheduled to be signed on 24 September, with the acquisition scheduled for 29 September.
The property is a 2-minute walk from JR Akishima Station and occupies a corner site at the intersection opposite Moritown. Completed in 1988, the building has 5 above-ground floors, with a standard floor area of approximately 255 tsubo. The appraised value is ¥2.86 billion, and the appraisal NOI yield on the planned acquisition price is 6.0%. The property has 15 tenants, with an area-based occupancy rate of 95.9% as of the end of August 2026.
As of August 2026, market rents were 14.7% above the property’s contract rents, indicating potential for earnings growth from future rent increases. In August, the REIT acquired 2 rental housing properties in Edogawa Ward. Against the backdrop of external growth and rising rental income from existing properties, it raised its forecast distribution per unit for the fiscal year ending May 2027 from ¥4,040 to ¥4,070.
Following the acquisition, the portfolio is expected to comprise approximately 53.9% office properties and 46.1% residential properties, with a total value of ¥283.494 billion.