Investor Presentaiton
NBF
Mapen Building Fund
1-1 Features and Basic Policies
NBF is an office-specialized J-REIT, sponsored by Mitsui Fudosan.
Portfolio Quality
Focused investment in highly competitive premium office building
Ratio of investment in central 5 wards: 51.0% (acquisition price basis)
(share of investment in 23 wards of Tokyo:79.0%)
Appraisal Value
Unrealized gain ratio: 16.0%
Occupancy rate
Average occupancy rate during the period*: 97.9% (1H/2016 (30th Period))
*Average occupancy rate during the period: Weighted average of month-end
occupancy rate on a floor space basis
X
(As of June 30, 2016)
Financial Fundamentals
Sound LTV control
LTV (ratio of interest-bearing debt to total assets):42.1%
Diversified Maturity Long-Term Fixed-Rate Debt
Long-term fixed-rate debt ratio: 93.8%
Average maturity 5.16 years (long-term interest-bearing debt)
High Credit Ratings
JCR AA+ R&I AA S&P A+
Size
The Largest J-REIT
Total assets
Market cap
Properties
¥1,029.0 billion
¥893.7 billion
73
Total rentable area
1.083 million m²
Basic Policies
Sponsor
Property acquisition pipeline from the Mitsui Fudosan Group
Leverage the comprehensive strengths of the Mitsui Fudosan
Group
Leasing capabilities
Property management capabilities
Increase Unitholder Value
Stable mid-to-long-term growth in DPU
Expansion of NAV per unit*
*NAV per unit = (Unitholders' capital at period end + Reserve for advanced depreciation in the next period (reserve - reversal) +
Unrealized gain or loss on appraisal value at period end) ÷ Units issued and outstanding at period end
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