First REIT Financial Overview slide image

First REIT Financial Overview

Japan 14 VALUATION (1) S$287.2 million JAPAN GROSS FLOOR AREA ROOMS 103,234 square metres 1,655 FIRST REIT ASIA'S PREMIER HEALTHCARE TRUST Cap rates of all asset classes in Japan have trended down over the past 5 years; senior housing cap rates higher than other asset classes Cap rates (%) by market segment, Japan (all cities) (2) 1. Hikari Heights Varus Ishiyama 6.0% 1 2 3 SAPPORO 2. 4 5 6 Hikari Heights Varus Tsukisamu- Koen 5.5% 3. Hikari Heights Varus Fujino 5.0% 4. Hikari Heights Varus Kotoni 4.5% 5. Hikari Heights Varus Makomanai- Koen 4.0% 6. Varus Cuore Yamanote 7. Varus Cuore Sapporo-Kita & Annex AICHI NAGANO KYOTO 8. Elysion Mamigaoka & Annex 9. Elysion Gakuenmae 10. Orchard Amanohashidate 11 12 10 13 14 ΤΟΚΥΟ KANAGAWA 11. Orchard Kaichi North 12. Orchard Kaichi West 8 NARA Notes (1) Based on appraised values as at 31 December 2022 (2) Source: MSCI RCA (March 2023) (3) FRM Japan Management Co., Ltd is licensed by the Tokyo Metropolitan Government (4) Every 2 to 3 years for 12 properties, and every 5 years for 2 properties 13. Loyal Residence Ayase 14. Medical Rehabilitation Home Bon Séjour Komaki 3.5% Q1 2015 Q1 2016 Q1 2017 Q1 2019 CBD Office Logistics Q1 2018 Q1 2020 Q1 2022 Retail Hotel Apartment Senior Housing/Care Q1 2021 March 2023: Completed the acquisition of FRM Japan Management Co., Ltd, a licensed asset management company which will support existing portfolio and future growth (3) 14 Japan nursing homes which were newly acquired in FY2022 are high-quality freehold assets and 100% master-leased Scope for Rent Increment for 14 Nursing Homes upon negotiation, based on the increase in Japan's consumer price index and interest rates (4); Utilities costs managed by Master Lessee in single and triple net lease agreements 21
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