Mirae Asset Global Investments Completes Acquisition of Maps Realty's Japanese Multifamily Portfolio

Maps Realty, a listed real estate investment trust, has expanded its global residential portfolio and moved to secure stable returns by acquiring newly constructed residential properties in Tokyo, Japan.

Photo of a newly incorporated Japan multifamily site by Maps Realty. Provided by Mirae Asset Global Investments

On September 1, Mirae Asset Global Investments announced that Maps Realty had completed the acquisition of a multifamily portfolio located in Tokyo, Japan. The term "multifamily" refers to rental apartments that accommodate multiple households.

The newly acquired portfolio is valued at a total of 10.45 billion yen (approximately KRW 90.6 billion) and consists of four multifamily assets with a total of 238 units. The investment was executed using cash held by Maps Realty. All four properties are newly constructed assets completed between 2024 and 2025, and as of the end of July, they boasted an average occupancy rate of over 95%. Each property is located in an area with excellent access to central Tokyo, within an eight-minute walk to the nearest train station. In addition, tenants can reach major business districts in Tokyo within approximately 25 minutes via public transportation, offering outstanding transportation connectivity.

With this investment, the total value of Maps Realty’s residential assets in Japan has expanded to approximately 20.8 billion yen (around KRW 180 billion) at acquisition cost, with a total of 737 units. Last year, Maps Realty also acquired a portfolio of four multifamily buildings in regions near central Osaka noted for their convenient access to key central business districts (CBD).

In Japan, the demand for rental housing continues due to the rise in small households and the inflow of foreign residents, coupled with increasing housing prices. This demand is particularly resilient in major cities such as Tokyo and Osaka, which are experiencing net population inflows. The Japanese rental housing market has maintained a high occupancy rate of over 96% for the past decade, with rental prices also showing an upward trend.

Despite the recent burden of global interest rates, Mirae Asset Global Investments continues to expand selective investments in global residential assets capable of generating stable cash flows, focusing on Europe’s purpose-built student accommodations (PBSA) and Japanese rental housing.

Changhoon Choi, CEO (Vice Chairman) of Mirae Asset Global Investments, stated, “We believe that Japan’s multifamily market is highly attractive for investment, thanks to stable rental demand and strong potential for rent growth. Through this investment, we aim to secure stable rental income as well as expect to improve dividend yields through rising rents and realize capital gains from increasing asset values.” He added, “Going forward, we will continue to invest in high-quality Japanese multifamily assets, advance Maps Realty’s growth and portfolio diversification, and contribute to enhancing long-term shareholder value.”

This content was produced with the assistance of AI translation services.