Investor Presentaiton
Appraisal Value (5/5)
Nippon
Accommodations
Fund
33rd Period
34th Period
Change from Previous Period
No.
Property Name
Acquisition
Price
Appraisal
Appraisal
Book Value
(JPY mn)
(JPY mn)
Appraisal Value
(JPY mn)
Appraisal
Book Value
Appraisal Value
Appraisal
Profit/Loss
Profit/Loss
Cap Rate
(JPY mn)
(JPY mn)
Cap Rate
Appraisal
Cap Rate
Appraisal
Profit/Loss
(JPY mn)
(JPY mn)
(JPY mn)
83 Dormy Musashi Kosugi
1,152
1,017
1,680
4.5%
662
1,008
1,680
4.5%
671
-
9
89 Artis Sendai Kakyoin
540
464
716
5.1%
251
458
732
5.0%
273
▲ 0.1%
21
90 Artis Sendai Kimachi Dori
1,160
992
1,530
5.1%
537
992
1,600
5.0%
607
▲ 0.1%
70
118 Medical Home Granda Sangen Jaya (Land with leasehold interest)
735
770
876
3.8%
105
770
899
3.7%
128
▲0.1%
23
119 Dormy Nishi Ogikubo
1,100
1,136
1,220
4.3%
83
1,156
1,250
4.2%
93
▲ 0.1%
9
123 Granda Kanazawa Hakkei
774
757
882
4.3%
124
751
882
4.3%
130
5
124 Dormy Kamisugi
1,050
1,104
1,200
4.9%
95
1,183
1,210
4.9%
26
▲ 68
128 Dormy Odawara
521
567
662
6.0%
94
570
596
5.1%
25
▲ 0.9%
▲ 69
131 Chisun Hotel Hiroshima
1,880
1,984
1,830
5.0%
▲ 154
1,983
1,850
5.0%
▲ 133
21
136 Campus terrace Waseda
1,810
1,865
2,010
3.8%
144
1,857
2,010
3.8%
152
7
Subtotal
339,966
310,204
452,650
142,445
308,835
460,410
151,574
9,129
Total
339,966
310,204
452,650
142,445
308,835
460,410
* Appraisal value and book value are as of the end of each period (33rd Period: August 31, 2022; 34th Period: February 28, 2023).
1. Appraisal value of Shibaura Island Air Tower: Equivalent of 31% ownership.
Appraisal cap rate of Shibaura Island Air Tower: Not available because the asset is a building with term leasehold interest.
2. Appraisal value of Park Axis Akatsuka: Equivalent of 55% ownership.
3. Appraisal cap rate of Park Cube Nishigahara Stage was 4.1% for the 33rd period and 4.0% for the 34th period.
(Discount rate based on the Inwood method of capitalization over a definite term)
Reference: Appraisal Value Changes in the Properties Owned at the end of the previous period
PoP Change in Appraisal Value
Increase
No Change
96 properties
29 properties
Decrease
9
Total
134
properties
properties
151,574
9,129
43View entire presentation