Investor Presentaiton

Acquisitions in April 2017 (3) LB-041 D Project Oyama Location Daiwa House REIT Investment Corporation Construction date Logistics (BTS-type) Acquisition price Oyama City, Tochigi Mar. 1, 2010 (Extension) Mar. 1, 2014 2,000 mil yen LB-043 D Project Tatebayashi Location Tatebayashi City, Gunma Construction date Sep. 1, 2015 Logistics (BTS-type) Acquisition price Appraisal value 3,100 mil yen 3,120 mil yen Appraisal value 2,010 mil yen Appraisal NOI yield 5.7% Appraisal NOI yield 5.8% Lease term 15.0 years Total leasable area 14,106.91 m² Tenant Mitsubishi Shokuhin Kar clawa 3 Remaining lease term 13.4 years Total leasable area Tenant Hitachi Transport System Kanto 13,521.56 m² Kizu Kunte Expressway Oyama Sta ■Located approx. 80 km from central Tokyo, coverage area of Maebashi city, central Saitama through Kita-Kanto Expressway and National Routes 4 and 50, and Tohoku area through Tohoku Expressway ■GFA of approx. 3,960 tsubo, 2-story property Sano Sto ant Fulkka Telesyas i C Kne Tohoku Expressway Coverage area of Maebashi City and central Saitama by National Route 122, and Tohoku area by accessing Tohoku Expressway's Tatebayashi IC and Sano Fujioka IC ■GFA of approx. 4,105 tsubo, 2-story property, solar panels on the roof Kay cka 3 Kizu kynte Expressway! Sano St Oyama Sta Sant Hallka Telesyas IC Клеп бута Tohoku Expressway LB-042 D Project Sano Location Logistics (BTS-type) TORYU 11 Construction date Acquisition price Appraisal value Appraisal NOI yield Sano City, Tochigi May 12, 2014 1,780 mil yen 1,780 mil yen 5.8% LB-044 D Project Kakegawa Location Logistics (BTS-type) Construction date Acquisition price Kakegawa City, Shizuoka Aug. 1, 2014 6,000 mil yen 0 Lease term Remaining lease term 15.0 years 12.2 years Total leasable area Tenant 15,668.44 m² Toryusha Tenant Lite a site Kay ckawa 3 Appraisal value Appraisal NOI yield Lease term Remaining lease term Total leasable area 20.0 years 17.3 years 39,341.44 m² Hitachi Transport System Chubu 6,070 mil yen 5.8% Kiukyntc Expre ■Located approx. 80 km from central Tokyo, coverage area of Kita Kanto area, Maebashi and surrounding areas by National Route 50 and Tohoku area from Tohoku Expressway's Sano Fujioka IC (approx. 3 km away) ■GFA of approx. 4,733 tsubo, 2-story property, solar panels on the roof Sana Sta Oyama Sta Bent Hallosa Telesyas C Клед була Tohoku Expresswest Coverage area of Shizuoka City and central Hamamatsu City by National Route 1, and Tokyo, Chubu and Kansai areas by accessing Tomei Expressway's Kakegawa IC =mareiteiu ---- jn- Tornei C ama Expresswa GFA of approx. 10,252 tsubo, 5-story property aka amama Kakegawa Sa Colossa し Arart lamamatau Sta 29

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