Investor Presentaiton
Appraisal Value Changes Comparison (6)
O Daiwa House REIT Investment Corporation
(mil yen)
(%)
Appraisal value (Note 1)
Aug. 2018
Feb. 2019
Change
Property
number
Property name
Acquisition Book value Unrealized
price
Feb. 2019 gain (loss) Aug. 2018 Feb. 2019 Change
Direct cap
DCF
Direct cap
DCF
Direct cap
DCF
Appraiser
(Note 2)
CR
DR
TCR
CR
DR
TCR
CR
DR
TCR
RE-109 Royal Parks Wakabadai
4,360
3,895
894
4,720
4,790
70
5.2
5.0/5.4
5.1
4.9/5.3
-0.1
-0.1
Daiwa
RE-110
Pacific Royal Court Minatomirai
Urban Tower
9,100
8,444
2,455
10,800
10,900
100
4.9
4.7/5.1
-
4.8
4.6/5.0
-0.1
-0.1
-
Morii
RE-111 L-Place Shinkoyasu
1,720
1,699
410
2,070
2,110
40
4.9
4.7
5.1
4.8
4.6
5.0
-0.1
-0.1
-0.1
JREI
RE-112 Royal Parks Musashikosugi
1,060
991
318
1,300
1,310
10
4.8
4.6/5.0
4.7
4.5/4.9
-
-0.1
-0.1
―
Morii
RE-116 Castalia Sakaisuji Honmachi
1,490
1,307
512
1,780
1,820
40
4.6
4.7
4.8
4.5
4.6
4.7
-0.1
-0.1
-0.1 Tanizawa
RE-117 Castalia Shin-Umeda
1,376
1,211
378
1,580
1,590
10
4.7
4.8
4.9
4.6
4.7
4.8
-0.1
-0.1
-0.1 Tanizawa
RE-118 Castalia Abeno
4,368
3,986
1,323
5,180
5,310
130
4.6
4.7
4.8
4.5
4.6
4.7
-0.1
-0.1
-0.1 Tanizawa
RE-119 Castalia Sakae
1,010
909
310
1,220
1,220
0
4.8
4.6
5.0
4.8
4.6
5.0
0.0
0.0
0.0 Chuo
RE-121 Castalia Maruyama Urasando
411
361
146
498
508
10
4.9
4.9
5.1
4.8
4.8
5.0
-0.1
-0.1
-0.1 Tanizawa
RE-122 Castalia Maruyama Omotesando
1,740
1,535
474
2,010
2,010
0
4.9
4.9
5.1
4.8
4.8
5.0
-0.1
-0.1
-0.1 Tanizawa
RE-123 Castalia Higashi Hie
960
837
212
1,020
1,050
30
4.9
5.1
5.1
4.8
5.0
5.0
-0.1
-0.1
-0.1 Tanizawa
RE-124 Castalia Tower Nagahoribashi
3,400
2,933
1,686
4,610
4,620
10
4.7
4.5
4.9
4.7
4.5
4.9
0.0
0.0
0.0 Chuo
RE-125 Castalia Sannomiya
1,230
1,066
433
1,490
1,500
10
5.0
4.8
5.2
4.9
4.7
5.1
-0.1
-0.1
-0.1 Daiwa
RE-126 Castalia Kotodaikoen
481
413
144
555
558
3
5.3
5.3
5.5
5.2
5.2
5.4
-0.1
-0.1
-0.1
Daiwa
RE-127 Castalia Ichibancho
783
690
247
934
938
4
5.3
5.3
5.5
5.2
5.2
5.4
-0.1
-0.1
-0.1
Daiwa
RE-128 Castalia Omachi
656
603
216
813
820
7
5.3
5.3
5.5
5.2
5.2
5.4
-0.1
-0.1
-0.1
Daiwa
RE-129 Castalia Uemachidai
2,190
1,950
819
2,710
2,770
60
4.7
4.5
4.9
4.6
4.4
4.8
-0.1
-0.1
-0.1
Daiwa
RE-130 Castalia Tower Higobashi
2,670
2,369
1,220
3,570
3,590
20
4.7
4.5
4.9
4.7
4.5
4.9
0.0
0.0
0.0
Chuo
RE-131 Big Tower Minami Sanjo
1,740
1,313
1,336
2,640
2,650
10
5.2
5.0
5.4
5.1
4.9
5.3
-0.1
-0.1
-0.1 Daiwa
RE-132
Castalia Fushimi
2,260
1,958
1,151
3,040
3,110
70
4.7
4.5
4.9
4.6
4.4
4.8
-0.1
-0.1
-0.1 JREI
RE-133 Castalia Meieki Minami
720
657
306
938
964
26
4.4
4.2
4.6
4.3
4.1
4.5
-0.1
-0.1
-0.1
Morii
RE-134 Castalia Yakuin
930
886
293
1,180
1,180
0
4.5
4.3
4.7
4.4
4.2
4.6
-0.1
-0.1
-0.1
Morii
RE-135 Castalia Mibu
1,193
1,100
389
1,470
1,490
20
4.8
4.6
5.0
4.7
4.5
4.9
-0.1
-0.1
-0.1
JREI
RE-136 Castalia Tsutsujigaoka
1,208
1,179
570
1,750
1,750
0
4.8
4.6
5.0
4.8
4.6
5.0
0.0
0.0
0.0
Morii
RE-137 Castalia Ohori Bay Tower
2,910
2,589
1,080
3,560
3,670
110
5.2
5.0
5.4
5.2
5.0
5.4
0.0
0.0
0.0
Morii
RE-138 Royal Parks Namba
2,830
2,512
457
2,940
2,970
30
5.5
5.4/5.8
5.4
5.3/5.7
-
-0.1
-0.1
Daiwa
RE-139 Castalia Shigahondori
1,730
1,590
499
2,090
2,090
0
4.9
4.7
5.1
4.8
4.6
5.0
-0.1
-0.1
-0.1 JREI
RE-140 Castalia Kyoto Nishioji
973
1,006
73
1,070
1,080
10
4.5
4.3
4.7
4.4
4.2
4.6
-0.1
-0.1
-0.1
Morii
RE-141 Castalia Ningyocho III
2,000
1,997
442
2,360
2,440
80
4.1
3.9
4.3
4.0
3.8
4.2
-0.1
-0.1
-0.1
JREI
RE-142 Royal Parks Umejima
RE-143 Castalia Shinsakae II
2,020
1,980
219
2,180
2,200
20
5.3
5.1/5.5
5.2
5.0/5.4
-0.1
-0.1
Morii
1,800
1,841
118
1,920
1,960
40
5.0
4.8
5.2
4.9
4.7
5.1
-0.1
-0.1
-0.1
Daiwa
Residential Properties Total
246,424 228,762
59,096
282,933
287,859
4,926
I
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