Investor Presentaiton
External Growth Asset Replacement since COVID-19~
Drove external growth with improved portfolio quality and realized gains on sales through continuous
asset replacement.
Properties acquired (or scheduled to be acquired) from 11th fiscal
period (Feb. 2021 FP) (Note 1)
6 properties in Tokyo only: Approximately ¥48.0 billion
(Average age: 2.8 years)
Logistics
0
Properties disposed of (or scheduled to be disposed of)
from 11th fiscal period (Feb. 2021 FP) (Note 1)
12 mainly older or regional properties: Approximately
¥19.7 billion (Average age: 21.5 years)
Disposed assets
Office
Retail
Residential
•
•
•
Landport Ome II
Landport Ome III
Office
Residential
PMO
Hamamatsucho II
PROUD FLAT
Togoshi-Ginza
PRIME URBAN Higashi
Nakano Court
PROUD FLAT
Nezu Yanaka
Main effects of asset replacement
Tokyo
***
83.9%)
By acquiring properties in Tokyo and disposing of properties in regional areas, improved the ratio of properties in the Greater Tokyo area (82.7% →>
By acquiring recently built properties and disposing of older properties, improved age of portfolio properties (21.6 years → 20.8 years) (Note 2)
By acquiring sponsor-developed advanced logistics facilities that are recently built and well located, increased the ratio of properties in the logistics sector
(17.7% →>> 20.1%)
Realized approximately 2.9 billion yen gain on sales (Note 3)
(Note 1) Excludes acquisition of Universal CityWalk Osaka (land) and partial disposition of Mitsubishi Motors Katsushika (land).
(Note 2) Comparisons of the situation at the completion of asset replacement on this page with the theoretical situation if replacement did not occur.
(Note 3) Excluded because separate to the gain on sales, losses on sales during the fiscal period ended February 28, 2022, amounted to 300 million yen, but an amount was appropriated from internal reserves to avoid impacting distributions. 9View entire presentation