Maps Realty, a publicly offered real estate investment trust managed by Mirae Asset Global Investments, has acquired four multifamily rental properties in Tokyo for 10.45 billion yen, or about 90.6 billion won ($65 million). The newly constructed assets, completed between 2024 and the previous year, contain 238 households and had an average occupancy rate above 95% at the end of July. The transaction lifts Maps Realty’s Japanese residential portfolio to about 20.8 billion yen, or roughly 180 billion won, across 737 households on an acquisition-cost basis. Mirae Asset said Japan’s major-city rental market is supported by growing numbers of single-person and small households and foreign residents, while higher home prices are encouraging renting. Japan’s rental housing market has maintained average occupancy above 96% for the past decade, with rents also trending higher. Choi Chang-hoon, vice chairman of Mirae Asset Global Investments, said stable rental demand and potential rent growth make Japanese multifamily housing attractive, with higher rents and asset values supporting dividend returns and capital gains.