Investor Presentaiton
Operation Status of Logistics Properties
Daiwa House REIT Investment Corporation
Type (acquisition price basis)
Operation Status
100% occupancy since the acquisitions
<D Project Kawagoe II > Installed material handling machines → Increased rent
<D Project Gotenba and DPL Misato (2F) >
Installed LED light
Increased rental revenue
Rent Revision / Lease Contract Renewal
Rent revision: D Project Hachioji (Mitsubishi Shokuhin), D Project Nishi-Hiroshima B,
DPL Inuyama, and DPL Misato (Kokubu Group Corp.) → Revised rent on equal terms
D Project Hachioji (Tokyo Logistics Factory) → Revised rent with rent decrease
D Project Gotenba → Revised rent with rent decrease (rent essentially increased by
installation of LED light)
D Project Fuji → Revised rent with rent decrease (along with long-term prime rate)
Lease contract renewal:
DPL Misato (Nitori) → Renewed a 5-year contract with rent increase
Initiatives for Internal Growth
Achieved internal growth through rent increase at rent revision, installation of LED light and
solar power generation, etc.
Monthly rental revenue
BTS type
91.3%
BTS type
91.3%
Multi-tenant type
8.7%
Remaining Lease Term (annual rent basis)
Average
Remaining
Lease Term
9.0 years
15 years or more
10.5%
10 to less than 15 years
30.6%
5 to less than 10 years
40.4%
Less than 5 years
18.5%
Average Lease Term 15.9 years
Rent
+4,447 thousand yen
as of April 10, 2019
(compared to the time of acquisitions)
Other rental revenue
Total rental revenue
+4,433 thousand yen
+8,880 thousand yen
% of Top 10 Tenants (leased area basis)
Mitsubishi Shokuhin
Hitachi Capital
8.9%
6.8%
Daiwa Logistics
6.5%
Number of Construction
fee
properties
Effect
Increase in total rental
revenue (annual)
Rate of
return
Top 10
Tenants
Kokubu Group Corp.
6.1%
Hitachi Transport System Kanto 5.9%
Tokyo Nohin Daiko
4.3%
52.7%
Nakano Shokai
4.0%
Installation of LED light (Note 1)
20 properties
535 mil yen
61 mil yen
11.6%
Major EC company
3.6%
Hitachi Transport System Central 3.5%
Installation of solar power
generation (Note 2)
3 properties
3 mil yen
Takihyo
3.0%
Others
47.3%
(Note 1) Revenue increase attributable to the installation of LED light at 20 properties during the period from Oct. 2015 to Feb. 2019.
(Note 2) Revenue increase attributable to the installation of solar power generation at three properties during the period from Nov. 2014 to Feb.2019.
As of April 10, 2019
18View entire presentation