Transfer of Five Properties from Tokyu's 'Stylio' Rental Housing Series to a Private Fund
Tokyu Corporation and Tokyu Asset Management have transferred five 'Stylio' rental properties to a private fund, achieving off-balance-sheet status. Operations started on March 31, 2026, aiming to improve capital efficiency.
📋 Article Processing Timeline
- 📰 Published: April 15, 2026 at 23:00
- 🔍 Collected: April 15, 2026 at 14:31
- 🤖 AI Analyzed: April 19, 2026 at 13:03 (94h 31m after Collected)
Tokyu Corporation (hereinafter "Tokyu") and Tokyu Asset Management Co., Ltd. (hereinafter "TAM") have transferred a total of five properties from the "Stylio" rental housing brand series, developed primarily along the Tokyu lines by Tokyu, to "LLC TR1 Realty" (hereinafter "the Fund"), a private fund structured and managed by TAM, after securitizing them into trust beneficiary rights. The Fund began operations on March 31, 2026, with multiple domestic business corporations as investors.
This is the first case within the Tokyu Group where properties developed by Tokyu have been transferred to a fund structured and managed by TAM, achieving an off-balance-sheet transaction. This embodies the "proactive acquisition of business opportunities in capital-rotating businesses" outlined in Tokyu's medium-term management plan (FY2024-2026). By building a value chain that highly integrates real estate development and asset management functions, the company balances improved capital efficiency through asset replacement with the maintenance of financial soundness, thereby securing resources for future growth investments.
In addition, Tokyu makes same-boat investments in the Fund under the same conditions as other investors, aligning interests and strengthening relationships of trust with external investors. Furthermore, the Fund grants preferential negotiation rights regarding future property sales to Tokyu Real Estate Investment Corporation (Tokyu REIT).
Moving forward, by combining Tokyu's development capabilities with TAM's fund structuring and management capabilities, the group aims to expand its capital-rotating business across a wide range of asset types, not limited to rental housing, and construct a sustainable cyclical reinvestment model united as a group.
Tokyu will deepen its collaboration with TAM and other group companies to strengthen its non-asset fee business. Through diverse initiatives such as real estate securitization, the company aims to sustainably improve corporate value and capital efficiency, creating a conglomerate premium through deepened inter-business collaboration.
[Overview of the Fund]
[Attachment]
■ Overview of Target Properties
■ Overview of Rental Housing Brand "Stylio" Series
Based on the concept of "making rental housing freer and more enjoyable," Stylio is a rental housing brand primarily deployed along the Tokyu lines, comprising 69 buildings and 2,533 units (as of the end of March 2026). For properties starting construction from February 2024 onwards, the standard specifications mandate the acquisition of three environmental certifications: "ZEH-M Oriented" before building completion, and "DBJ Green Building Certification" and "CASBEE for Real Estate" after completion, thereby promoting environmental consideration. We will continue to work on building beautiful homes toward realizing sustainable city planning.
Tokyu Corporation's Towns and Homes: https://www.109sumai.com/house/
Stylio Website: https://stylio.jp/
■ Company Profiles
Company Name: Tokyu Corporation
Location: 5-6 Nanpeidai-cho, Shibuya-ku, Tokyo
Representative: Masahiro Horie, President and Representative Director
Business description: Real estate leasing, real estate sales, other businesses
Official Website: https://www.tokyu.co.jp/company/
(Reference) Medium-term 3-year Management Plan (FY2024-2026): https://ir.tokyu.co.jp/ja/ir/management/midplan.html
Company Name: Tokyu Asset Management Co., Ltd.
Location: 2F Goto Ikueikai Building, 1-10-7 Dogenzaka, Shibuya-ku, Tokyo
Representative: Masashige Okanda, Representative Director
Business description: Investment advisory and agency business, Type II Financial Instruments Business, Real Estate Brokerage Business, Real Estate Specified Joint Enterprise
(Reference) Main Assets Under Management:
Cerulean Tower (Operation started in March 2009), SHIBUYA CAST. (Operation started in April 2017), The Park Front Hotel at Universal Studios Japan (Operation started in April 2024)
This is the first case within the Tokyu Group where properties developed by Tokyu have been transferred to a fund structured and managed by TAM, achieving an off-balance-sheet transaction. This embodies the "proactive acquisition of business opportunities in capital-rotating businesses" outlined in Tokyu's medium-term management plan (FY2024-2026). By building a value chain that highly integrates real estate development and asset management functions, the company balances improved capital efficiency through asset replacement with the maintenance of financial soundness, thereby securing resources for future growth investments.
In addition, Tokyu makes same-boat investments in the Fund under the same conditions as other investors, aligning interests and strengthening relationships of trust with external investors. Furthermore, the Fund grants preferential negotiation rights regarding future property sales to Tokyu Real Estate Investment Corporation (Tokyu REIT).
Moving forward, by combining Tokyu's development capabilities with TAM's fund structuring and management capabilities, the group aims to expand its capital-rotating business across a wide range of asset types, not limited to rental housing, and construct a sustainable cyclical reinvestment model united as a group.
Tokyu will deepen its collaboration with TAM and other group companies to strengthen its non-asset fee business. Through diverse initiatives such as real estate securitization, the company aims to sustainably improve corporate value and capital efficiency, creating a conglomerate premium through deepened inter-business collaboration.
[Overview of the Fund]
[Attachment]
■ Overview of Target Properties
■ Overview of Rental Housing Brand "Stylio" Series
Based on the concept of "making rental housing freer and more enjoyable," Stylio is a rental housing brand primarily deployed along the Tokyu lines, comprising 69 buildings and 2,533 units (as of the end of March 2026). For properties starting construction from February 2024 onwards, the standard specifications mandate the acquisition of three environmental certifications: "ZEH-M Oriented" before building completion, and "DBJ Green Building Certification" and "CASBEE for Real Estate" after completion, thereby promoting environmental consideration. We will continue to work on building beautiful homes toward realizing sustainable city planning.
Tokyu Corporation's Towns and Homes: https://www.109sumai.com/house/
Stylio Website: https://stylio.jp/
■ Company Profiles
Company Name: Tokyu Corporation
Location: 5-6 Nanpeidai-cho, Shibuya-ku, Tokyo
Representative: Masahiro Horie, President and Representative Director
Business description: Real estate leasing, real estate sales, other businesses
Official Website: https://www.tokyu.co.jp/company/
(Reference) Medium-term 3-year Management Plan (FY2024-2026): https://ir.tokyu.co.jp/ja/ir/management/midplan.html
Company Name: Tokyu Asset Management Co., Ltd.
Location: 2F Goto Ikueikai Building, 1-10-7 Dogenzaka, Shibuya-ku, Tokyo
Representative: Masashige Okanda, Representative Director
Business description: Investment advisory and agency business, Type II Financial Instruments Business, Real Estate Brokerage Business, Real Estate Specified Joint Enterprise
(Reference) Main Assets Under Management:
Cerulean Tower (Operation started in March 2009), SHIBUYA CAST. (Operation started in April 2017), The Park Front Hotel at Universal Studios Japan (Operation started in April 2024)