A condenser has a core part having tubes, a first modulator tank and a second modulator tank. The first modulator tank is provided along a side portion of a header tank. The second modulator tank communicates with an interior of the first modulator tank and is provided along a lower edge of the core part in a gravity direction. An interior of the header tank is provided with a communicating space that communicates with the interior of the first modulator tank and an interior of the second modulator tank. The header tank has an introduction passage that guides liquid-phase refrigerant in the communicating space to a supercooling portion of the core part. A first connection part between the communicating space and the introduction passage is disposed on a lower side, in the gravity direction, of a second connection part between the communicating space and the second modulator tank.