Apahome purchases Daikanyama bldg for 4.5 billion Yen

Two buildings in Daikanyama, Shibuya-ku, that were owned by Nara Prefecture were recently sold by auction. The “Daikanyama i Studio” was acquired by ApaHome for approximately 4.5 billion Yen, and the “Tsurumaki Residence” – a former housing complex for Prefecture staff – was acquired by i-nest Co. for 244.5 million Yen.

There were seven bidders on the i Studio property and four bidders on the housing complex. These buildings were first put up for auction in January, 2009, as one lot with an auction estimate of 5.637 billion Yen but failed to attract any bids. In 2011, the two properties were listed separately and with lower auction estimates of 3.2 billion and 199 million Yen.

Daikanyama i Studio
Address: 1-36-10 Ebisu Nishi, Shibuya-ku, Tokyo
Built: 1968
Land: 1701.11 sqm

This property opened in 1968 as a dormitory for Nara Prefecture staff. It was re-named to Daikanyama i Studio in 2005 and used as a showroom. Overnight accommodation was available on the 3rd floor. The building was closed at the end of 2008.

Tsurumaki Residence
Address: 1-12 Tsurumaki, Setagaya-ku, Tokyo
Buit: 1963
Land: 400.74 sqm

ApaHome is a real estate company based in Kanezawa City, Ishikawa Prefecture, and is part of Apa Group. The other bidder, i-nest Co., is a house builder based in Meguro-ku, Tokyo.

The Mainichi Shimbun, November 30, 2011.

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