JLL today announced that it acted as the sole advisor on behalf of AM Alpha Kapitalverwaltungsgesellschaft mbH (AM Alpha) for the sale of Alpha Prime Toyocho. Mitsui & Co., Realty Management Ltd. (MBRM) acquired the asset.

Alpha Prime Toyocho is a newly developed, 10-storey high-end multifamily building located in Koto-ku, Tokyo. The asset’s construction completed earlier this year in January 2024 and boasts a BELS 5-star rating, highlighting its commitment to ESG and energy efficient sustainability practices. With a total of 174 units and total floor area exceeding 6,000 sqm, the building offers sufficient scale for institutional investors looking to invest in larger assets.

Targeted at commuters working in the city center, the property is a 10-minute walk to Toyocho Station on the Tokyo Metro Tozai Line and takes 7 and 9 minutes by train to Nihonbashi Station and Otemachi Station respectively. Otemachi is a key financial district housing major banks, financial institutions, and corporate headquarters.

Masayuki Takahashi, Senior Director in JLL Japan Capital Markets, said: "Residential properties are an attractive asset type that domestic and international investors are keen to invest in due to their stable earnings and current high rent growth rates. In particular, there are not many properties that have acquired environmental and energy-saving certifications. This transaction was made possible by successfully matching the asset with the investment needs of the buyer, who valued highly the ESG credentials that Alpha Prime Toyocho possessed. JLL will continue to support domestic and international investors in the sale and purchase of various asset types, including residential properties.”

Sidney Teo, Manager in JLL Asia Pacific Capital Markets, said: “The Alpha Prime Toyocho transaction reaffirms our position that strong interest remains for Japan multifamily, both from foreign institutional investors and domestic capital - particularly if assets are high quality, ESG credentialed, well located, and highly accessible.”