Heitman Acquires Nine Asset Residential Portfolio in Fukuoka, Japan

Largest multi-asset residential portfolio acquisition in Fukuoka’s history underscores confidence in Japan’s fastest-growing residential market

TOKYO--(BUSINESS WIRE)--Heitman LLC (“Heitman”), a global real estate investment management firm, today announced the acquisition of a nine-asset residential portfolio in Fukuoka, Japan. The investment was executed by Heitman on behalf of its global core-plus strategy and Heitman’s strategic capital partner SMFL MIRAI Partners Company, Limited (“SMFL MIRAI Partners”), which is a strategic subsidiary of Sumitomo Mitsui Finance and Leasing Company, Limited. The transaction marks the largest multi-asset residential portfolio acquisition in the city’s history.

“We have strategically focused on building our investments in scale across the Fukuoka market,” said Brad Fu, Managing Director and Head of Asia-Pacific Acquisitions for Heitman. “In addition to Heitman’s acquisitions in other sectors within Greater Fukuoka, this portfolio contributes to our long-term positioning in this pivotal market, which is underpinned by favorable demographics, affordability, and sizable inbound industry investment.”

The portfolio is comprised of 316 units diversified across key submarkets in the city, including Hakata and Hirao. All the properties offer residents accessibility to Fukuoka’s Tenjin and Hakata business districts, both reachable within 15 minutes via direct subway and bus connections. The properties feature a mix of studio, one/two, and three-bedroom units catering to a wide range of tenants, including the city’s dynamic young professional workforce and growing families.

SMFL MIRAI Partners, together with its clients and business partners, is committed to supporting social infrastructure and enhancing the long-term appeal of Fukuoka City—a city sustained by stable population inflows and employment—through the provision of high-quality residential property.

Heitman acquired the portfolio through an off-market transaction, providing an attractive entry point with both reversionary and longer-term market rental growth potential. Fukuoka’s proximity to major Asian hubs, including Busan and Shanghai, further supports its growing international appeal for new residents to Japan.

Fukuoka continues to post the highest population growth rate among major Japanese cities, with positive projections extending through 2040. Heitman’s residential portfolio acquisition aligns with its recent purchase of a major distribution center in Kyushu, also marking the largest-ever single-asset logistics transaction in the Greater Fukuoka market.

ABOUT HEITMAN:

Heitman is a global real estate investment management firm with $48 billion in assets under management as of September 30, 2025. Founded in 1966 and globally headquartered in Chicago, with European headquarters in London, Heitman has 11 offices worldwide and is an active participant in the global real estate property and capital markets. Heitman makes real estate investments through private equity, debt, and publicly traded real estate securities.

ABOUT SMFL MIRAI Partners:

SMFL MIRAI Partners positions real estate as one of its core businesses as an operating company with financial capabilities. Through the provision of a wide range of solutions—including real estate leasing, non-recourse loans, and equity investments—we work together with our clients and business partners to co-create new value across diverse sectors. Going forward, we will continue to contribute to the sustainable development of regional economies and communities through investments and financing in residential properties, logistics facilities, offices, commercial properties, and more.