Investor Presentaiton

Appraisal Value Changes Comparison (1) Daiwa House REIT Investment Corporation (million yen) (%) Appraisal value (Note 1) Aug. 2016 Feb. 2017 Change Property number Acquisition Book value Unrealized Property name price Feb. 2017 gain/loss Aug. 2016 Feb. 2017 Direct cap DCF Direct cap DCF Direct cap DCF Appraiser (Note 2) Change CR DR TCR CR DR TCR CR DR TCR LB-001 D Project Machida LB-002 D Project Hachioji LB-003 D Project Aikawa-Machi LB-004 D Project Shin-Misato LB-005 D Project Urayasu I LB-006 LB-007 9,200 9,246 163 9,200 9,410 210 4.7 4.6 4.9 4.6 4.5/4.6 4.8 -0.1 - -0.1 Tanizawa 15,400 15,318 381 15,400 15,700 300 4.6 4.5/4.6 4.8 4.5 4.4/4.5 4.7 -0.1 -0.1 -0.1 Tanizawa 3,390 3,377 52 3,390 3,430 40 4.8 4.8 5.0 4.7 4.7 4.9 -0.1 -0.1 -0.1 Tanizawa 5,710 5,689 70 5,710 5,760 50 5.3 5.3 5.5 5.2 5.2 5.4 -0.1 -0.1 -0.1 Tanizawa 9,280 9,255 204 9,280 9,460 180 4.3 4.4 4.5 4.2 4.3 4.4 -0.1 -0.1 -0.1 Tanizawa D Project Urayasu II D Project Akanehama 26,000 25,914 285 26,000 26,200 200 4.2 4.2 4.4 4.1 4.1/4.2 4.3 -0.1 -0.1 Tanizawa 2,950 2,940 39 2,950 2,980 30 4.7 4.8 4.9 4.6 4.7 4.8 -0.1 -0.1 -0.1 Tanizawa LB-008 D Project Noda 6,210 6,175 164 6,210 6,340 130 4.9 4.8 5.1 4.8 4.7 5.0 -0.1 -0.1 -0.1 Tanizawa LB-009 D Project Inuyama 8,690 8,636 183 8,690 8,820 130 5.1 5.0/5.1 5.3 5.0 4.9/5.0 5.2 -0.1 -0.1 -0.1 Tanizawa LB-010 D Project Gifu 1,100 1,092 17 1,100 1,110 10 5.7 5.6/5.7 5.9 5.6 5.5/5.6 5.8 -0.1 -0.1 -0.1 Tanizawa LB-011 D Project Neyagawa 5,980 5,956 123 5,980 6,080 100 4.8 4.8 5.0 4.7 4.7 4.9 -0.1 -0.1 -0.1 Tanizawa LB-012 D Project Sapporo Minami 818 810 27 818 838 20 6.2 6.0/6.1 6.4 6.1 5.9/6.0 6.3 -0.1 -0.1 -0.1 Tanizawa LB-013 D Project Morioka 1,200 1,190 29 1,200 1,220 20 6.1 6.0 6.3 6.0 5.9 6.2 -0.1 -0.1 -0.1 Tanizawa LB-014 D Project Sendai Minami 1,530 1,517 32 1,530 1,550 20 5.4 5.2/5.3 5.6 5.3 5.1/5.2 5.5 -0.1 -0.1 -0.1 Tanizawa LB-015 D Project Tsuchiura LB-016 D Project Gotenba LB-017 3,390 3,365 64 3,390 3,430 40 5.4 5.3 5.6 5.3 5.2 5.5 -0.1 -0.1 -0.1 Tanizawa 1,140 1,133 26 1,140 1,160 20 5.6 5.5 5.8 5.5 5.4 5.7 -0.1 -0.1 -0.1 Tanizawa D Project Nishi-Hiroshima 1,210 1,204 15 1,210 1,220 10 5.6 5.6/5.7 5.8 5.5 5.5/5.6 5.7 -0.1 -0.1 -0.1 Tanizawa 5.0/5.1 4.9/5.0 LB-018 D Project Fukuoka Umi 4,240 4,214 85 4,240 4,300 60 5.3 5.5 5.2 5.4 -0.1 -0.1 -0.1 Tanizawa 15.2 /5.1 LB-019 D Project Tosu 5,740 5,694 105 5,740 5,800 60 5.3 5.3/5.4 5.5 5.2 5.2/5.3 5.4 -0.1 -0.1 -0.1 Tanizawa LB-020 D Project Kuki I 3,900 3,879 140 3,900 4,020 120 5.1 5.1/5.2 5.3 4.9 4.9/5.0 5.1 -0.2 -0.2 -0.2 Tanizawa LB-021 D Project Kuki II 8,120 8,063 336 8,120 8,400 280 5.1 5.1/5.2 5.3 4.9 4.9/5.0 5.1 -0.2 -0.2 -0.2 Tanizawa LB-022 D Project Kawagoe I 3,530 3,513 126 3,530 3,640 110 5.1 5.1/5.2 5.3 4.9 4.9/5.0 5.1 -0.2 -0.2 -0.2 Tanizawa LB-023 D Project Kawagoe II 4,850 4,827 242 4,850 5,070 220 5.1 5.1 5.3 4.9 4.9 5.1 -0.2 -0.2 -0.2 Tanizawa LB-024 DPL Inuyama 3,940 3,918 51 3,940 3,970 30 5.1 5.0 5.3 5.0 4.9 5.2 -0.1 -0.1 -0.1 Tanizawa LB-025 D Project Fukuoka Hakozaki 4,340 4,316 113 4,340 4,430 90 5.0 4.9 5.2 4.9 4.8 5.1 -0.1 -0.1 -0.1 Tanizawa LB-026 D Project Kuki III 7,630 7,585 304 7,630 7,890 260 5.1 5.1/5.2 5.3 4.9 4.9/5.0 5.1 -0.2 -0.2 -0.2 Tanizawa LB-027 D Project Kuki IV 5,520 5,485 204 5,520 5,690 170 5.1 5.1/5.2 5.3 4.9 4.9/5.0 5.1 -0.2 -0.2 -0.2 Tanizawa LB-028 D Project Kuki V 8,280 8,289 320 8,280 8,610 330 LB-029 D Project Kuki VI 5,140 5,104 195 5,140 5,300 160 655 5.1 5.1/5.2 5.3 4.9 4.9/5.0 5.1 -0.2 -0.2 -0.2 Tanizawa 5.1 5.1/5.2 5.3 4.9 4.9/5.0 5.1 -0.2 -0.2 -0.2 Tanizawa LB-030 D Project Yashio 6,400 6,365 114 6,400 6,480 80 4.8 4.3 5.1 4.7 4.2 5.0 -0.1 -0.1 -0.1 JREI LB-031 D Project Nishiyodogawa LB-032 D Project Matsudo 10,300 10,239 260 10,300 10,500 200 5.0 4.7 5.2 4.9 4.6 5.1 -0.1 -0.1 -0.1 JREI 7,370 7,339 120 7,370 7,460 90 4.8 4.5 4.9 4.7 4.4 4.8 -0.1 -0.1 -0.1 JREI 44

View entire presentation