Nakayama Fudousan Acquires Property in Nagoya for Resale Business

TOKYO, Jun 30 (Pulse News Wire) – Nakayama Fudousan CO.,LTD. (5531.T) announced the acquisition of a property in Nagoya's Nakamura Ward for its resale business.

The property, located near three train stations—Nagoya Metro Tozai Line’s Iwatsuka Station, JR West Kansai Main Line and Tozai Line’s Hata Station, and Kintetsu Nagoya Line’s Hata Station—features 40 units with 13 currently vacant. The company plans to increase occupancy through higher rental rates, aiming for a sales yield of 8% and an expected yield upon sale of 9%. This acquisition aligns with the company’s strategy to purchase and resell income-generating properties.

The site covers an area of 685.00 square meters and offers convenient transportation options. Due to confidentiality agreements with the seller, details such as the vendor and purchase price remain undisclosed. There are no significant capital, personal, or related party relationships between NAKAYAMA FUDOUSAN and the seller.

Regarding the impact on the company’s performance, NAKAYAMA FUDOUSAN stated it would promptly disclose any effects on its operating profit should they arise.