Mirae Asset Global Investments' Maps Realty Acquires Tokyo Rental Housing for 90.6 Billion Won

[Financial News] Maps Realty, the listed real estate public offering investment trust of Mirae Asset Global Investments, has acquired four additional multifamily rental apartment assets in Tokyo, Japan.
According to Mirae Asset Global Investments on the 1st, Maps Realty completed the purchase of a Tokyo multifamily portfolio worth 10.45 billion yen, or about 90.6 billion won. The portfolio comprises 238 units, and the investment was funded with cash held by Maps Realty.
All four assets acquired this time are newly built properties completed in 2024 and 2025. As of the end of July, their average occupancy rate exceeded 95%. They are within an eight-minute walk of nearby subway stations, and public transportation provides access to major business districts in Tokyo in about 25 minutes.
With this acquisition, Maps Realty's residential assets in Japan have increased to about 20.8 billion yen, or roughly 180 billion won, based on purchase price, across 737 units. Last year, it also acquired four multifamily buildings with strong access to Osaka's major business districts.
Mirae Asset Global Investments said rental housing demand in Japan remains steady as the number of small households and foreign residents rises and housing prices continue to climb. It added that rental demand is especially solid in major cities drawing population inflows, including Tokyo and Osaka.
Mirae Asset Global Investments said it continues to invest mainly in residential and rental housing even as overseas real estate investment markets remain sluggish. Following last year's Osaka multifamily acquisition, it has this year also purchased student housing in Europe and the Tokyo multifamily portfolio in quick succession.
Vice Chairman & CEO Choi Chang-hoon said, "We believe the Japanese multifamily market is highly attractive because it offers stable rental demand and the potential for rent growth." He added, "Through this investment, we expect to secure stable rental income while also improving dividend returns through higher rents and realizing capital gains from rising asset values."

[email protected] Lee Jeong-hwa Reporter