Strategic Expansion into Japan
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4 DPU Accretive when Fully Leased
Anchored by Netyear Group Corporation¹ (subsidiary of the NTT Data Corporation which is part of the NTT
Group)
Netyear Group Corporation has been a tenant since 2014 and has recently renewed its lease
Opportunity to lease up remaining space²
Keppel Capital Japan, which has been operating in Japan since 2005, will be appointed as the asset manager
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NPI yield of 3.1%³ and DPU accretion of 0.5% on a pro forma basis4, upon fully leased
• The acquisition will be fully funded by Japanese Yen denominated borrowings, post-acquisition aggregate
leverage will be ~39.0% 5
Keppel REIT
1. Netyear Group Corporation provides strategic marketing consulting services which comprise branding, web site design and sales promotion.
The current occupancy of Ginza 2-chome is 36.3%.
2.
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The fully leased NPI yield of 3.1% is before taking into account any potential leasing commission and rent-free incentives arising from the leasing up of vacant space and is in
line with the market convention of how yields are quoted in Japan.
4. The pro forma DPU is based on the audited financial statements of Keppel REIT for the financial year ended 31 December 2021 and assuming that the acquisition was
completed on 1 January 2021 and Keppel REIT held and operated the Property to 31 December 2021.
5. Assuming that the acquisition was completed on 30 September 2022.
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