Tokyu Land US Corp. acquires several multifamily properties for $214m

Tokyu Land US Corp. (TLUS), the U.S. subsidiary of the fully integrated Japanese real estate investment and development company Tokyu Land Corp., has made three acquisitions in the multifamily space, totaling $214 million in sales price.

The first closing was a 221-unit, 1970s-vintage asset in Pleasant Hill, Calif., acquired with Vista Investment Group from a public REIT. The second acquisition was a 120-unit value-added property in Seattle bought with Security Properties. The third transaction was a 282-unit portfolio of nine multifamily assets located around downtown Oakland, Calif., in a recapitalization with Mosser Capital Management.

“We accomplished many ‘firsts’ for our U.S. company during these transactions, such as first acquisitions in the Bay Area, first acquisitions with two new partners, first time closing three deals simultaneously, first time buying 50-plus-year-old buildings, and many others,” said Ben Cherney, vice president of acquisitions for