Investor Presentaiton
Appraisal Value Changes Comparison (7)
O Daiwa House REIT Investment Corporation
(mil yen)
(%)
Appraisal value (Note 1)
Aug. 2018
Feb. 2019
Change
Property
number
Acquisition Book value Unrealized
Property name
price
Feb. 2019 gain (loss) Aug. 2018 Feb. 2019 Change
Direct cap
DCF
Direct cap
DCF
Direct cap
DCF
Appraiser
(Note 2)
CR
DR
TCR
CR
DR
TCR
CR
DR
TCR
RM-001 ACROSSMALL Shinkamagaya
7,770
7,511
828
8,060
8,340
280
5.6
5.3
5.8
5.5
5.2
5.7
-0.1
-0.1
-0.1
JREI
RM-002
FOLEO Hirakata
4,580
4,503
166
4,660
4,670
10
6.1
5.6
6.2
6.0
5.5
6.1
-0.1
-0.1
-0.1
JREI
RM-003 QiZ GATE URAWA
4,270
4,233
96
4,310
4,330
20
5.5
5.1
5.6
5.5
5.1
5.6
0.0
0.0
0.0 JREI
RM-004 UNICUS Takasaki
3,000
2,947
162
3,070
3,110
40
6.2
5.9
6.4
6.1
5.8
6.3
-0.1
-0.1
-0.1
JREI
RM-005 ACROSSPLAZA Miyoshi (Land)
3,740
3,740
210
3,930
3,950
20
4.3
4.2
-0.1
Tanizawa
RM-006 DREAM TOWN ALi
8,100
7,931
578
8,330
8,510
180
5.7
5.5
6.0
5.6
5.4
5.9
-0.1
-0.1
-0.1
JREI
RM-007 ASOBOX (Land)
1,600
1,617
282
1,860
1,900
40
-
5.0
-
4.9
-
-0.1
JREI
RM-008 FOLEO Ome Imai
3,800
3,770
179
3,950
3,950
0
5.1
4.6
5.4
5.1
4.6
5.4
0.0
0.0
0.0 JREI
RM-009 FOLEO Otsu Ichiriyama
8,100
8,105
344
8,420
8,450
30
5.5
5.3
5.8
5.5
5.3
5.8
0.0
0.0
0.0 JREI
RM-010 FOLEO Hakata
3,200
3,203
476
3,610
3,680
70
4.9
4.7
5.2
4.8
4.6
5.1
-0.1
-0.1
-0.1 JREI
RM-011 ACROSSMALL Semboku (Land)
3,250
3,383
496
3,880
3,880
0
-
4.3
-
-
4.3
-
0.0
-
Tanizawa
RR-001 LIFE Sagamihara Wakamatsu
1,670
1,655
144
1,760
1,800
40
4.8
4.4
4.9
4.7
4.3
4.8
-0.1
-0.1
-0.1
JREI
RR-002 FOLEO Sendai Miyanomori
6,960
6,858
521
7,380
7,380
0
5.6
5.3
5.8
5.6
5.3
5.8
0.0
0.0
0.0
JREI
RR-003 ACROSSPLAZA Inazawa (Land)
2,390
2,390
130
2,490
2,520
30
=
5.2
5.1
-0.1
JREI
Sports Depo and GOLF5
RR-004
2,230
2,182
217
2,360
2,400
40
6.1
6.2
6.3
6.0
6.1
6.2
-0.1
-0.1
-0.1 Tanizawa
Kokurahigashi IC Store
RR-005 Hiratsuka Retail Property (Land)
5,620
5,857
782
6,640
6,640
0
4.0
4.0
0.0
Tanizawa
RR-006
Royal Home Center Morinomiya
(Land)
4,500
4,541
678
5,190
5,220
30
4.0
4.0
0.0
Tanizawa
RU-001 COMBOX310
4,480
4,489
110
4,600
4,600
0
5.6
5.4
5.8
5.6
5.4
5.8
0.0
0.0
90
0.0 Daiwa
Retail Properties Total
79,260
78,921
6,408
84,500
85,330
830
HO-001
Daiwa Roynet Hotel Yokohama
Kannai
4,800
4,803
136
4,940
4,940
0
4.7
4.5
4.9
4.7
4.5
4.9
0.0
0.0
0.0 Daiwa
HO-002
Super Hotel JR Nara Station
Sanjo Street
1,470
1,476
13
1,490
1,490
0
4.8
4.6
5.0
4.8
4.6
5.0
0.0
0.0
0.0 Daiwa
Hotel Properties Total
6,270
6,279
150
6,430
6,430
0
-
I
OT-001 Urban Living Inage
930
848
431
1,300
1,280
-20
5.2
5.0
5.4
5.3
5.1
5.5
0.1
0.1
0.1 Daiwa
OT-002
Aburatsubo Marina HILLS
1,100
1,070
189
1,260
1,260
0
6.1
5.9
6.3
6.1
5.9
6.3
0.0
0.0
0.0
JREI
OT-003
Naha Shin-Toshin Center Building
(Daiwa Roynet Hotel Naha-Omoromachi)
7,600
7,379
630
7,980
8,010
30
30
5.5
5.3
57
5.7
5.5
5.3
5.7
0.0
0.0
0.0
Daiwa
OT-004 Sharp Hiroshima Building
1,850
1,838
111
1,950
1,950
0
5.3
5.1
5.5
5.3
5.1
5.5
0.0
0.0
0.0
JREI
Other Assets Total
11,480 11,136
1,363 12,490 12,500
10
-
-
I
-
Portfolio Total
683,443 660,496 93,224 743,402
753,721
10,319
I
-
-
-
I
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