Investor Presentaiton
Value-Add Asset Breakdown (5)
No.
Asset Type
Classification
Location
Acquisition
Price
Acquisition Building
Date
Age
Expected
NOI/Year
Ichigo Equity
Investment
Forecast Equity
Forecast
Multiple¹
IRR²
119
Retail
120
Hotel
Real Estate for Sale
Fixed Asset
Shibuya-ku, Tokyo
<JPY 1B
Shinjuku-ku, Tokyo
≥ JPY 3B
2016/06
2016/09
31 years
39 years
121
Office
Real Estate for Sale
Minato-ku, Tokyo
≥ JPY 3B
2016/10
18 years
JPY 37M
JPY 845M
JPY 1,600M
JPY 136M
3.91X
17.4%
JPY 349M
JPY 3,450M
2.87X
43.5%
122
Hotel
Real Estate for Sale
Shima, Mie
<JPY 1B
2017/01
21 years
123
Hotel
Real Estate for Sale
124
Hotel
Real Estate for Sale
126
Hotel
Real Estate for Sale
127
Hotel
Real Estate for Sale
128
Hotel
130
Retail
132
Residence
133
Hotel
134
Residence
135
Logistics
Real Estate for Sale
Real Estate for Sale
Real Estate for Sale
Real Estate for Sale
Real Estate for Sale
Real Estate for Sale
136
Logistics
Real Estate for Sale
Shibuya-ku, Tokyo
Asahikawa, Hokkaido
Fukuoka
Ishigaki, Okinawa
Mito, Ibaraki
Taito-ku, Tokyo
Minato-ku, Tokyo
Minato-ku, Tokyo
Chuo-ku, Tokyo
Narashino, Chiba
Narashino, Chiba
≥JPY 3B
2016/12
24 years
JPY 54M
JPY 202M
JPY 73M
5.49X
43.1%
JPY 1,123M
1.25X
25.4%
<JPY 1B
2016/12
29 years
JPY 78M
JPY 593M
1.48X
48.5%
JPY 1B-2B
2016/12
28 years
JPY 91M
JPY 505M
1.25X
25.4%
JPY 2B-3B
2017/02
16 years
JPY 168M
JPY 544M
1.80X
80.2%
JPY 1B-2B
2017/02
25 years
JPY 150M
JPY 602M
1.47X
47.0%
JPY 1B-2B
2017/04
25 years
JPY 94M
JPY 297M
4.42X
21.1%
<JPY 1B
2017/04
15 years
JPY 51M
JPY 190M
2.66X
38.3%
<JPY 1B
2017/04
16 years
JPY 32M
JPY 152M
3.85X
32.7%
JPY 1B-2B
2017/04
16 years
JPY 48M
JPY 197M
2.88X
26.2%
JPY 1B-2B
JPY 1B-2B
2017/04
2017/04
27 years
27 years
JPY 98M
JPY 160M
JPY 188M
JPY 203M
6.18X
25.8%
8.75X
32.8%
1 Forecast Equity Multiple is based on the business plan of each asset and is the forecast sum of rental income and gains on sale divided by Ichigo Investment.
2 Forecast IRR is the forecast internal rate of return based on each asset's actual cash flow. The total Forecast Equity Multiple and Forecast IRR are for Real Estate
for Sale assets acquired from FY15/2 onward and exclude Fixed Assets.
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