transla t only 14, 2015 - hulic reit inc...yo, japan or, president eneral mana artment rty...
TRANSCRIPT
To All Co
Hulic Rewith the announceproperty The selleInvestmethe “ActCorporatOrdinancRegulatiobased onHulic Restipulated 1. Ove
(1)(2)(3)(4)(5)(6)(7)(8)(9)
Notes(1)
(2)
(3)
(4)
Translat
oncerned Parti
eit Managememanagemen
es that it has (hereinafter
r of the Anticent Trust and t”) and Artiction Act (Cabce”)) of Hulions on Trans
n the approvaeit Managemd in the Regu
erview of the) Category ) Property Na) Location ) Anticipated ) Date of Purc) Anticipated ) Seller ) Acquisition ) Settlement M:
“Anticipatedacquisition. “Anticipatedagreement. “Seller”: HulInvestment CEnforcementamended; heaccording to For details, r
tion Purpose
ies
No
ent Co., Ltd. t of the assetoday made referred to as
cipated PropeInvestment C
cle 123 of tbinet Order Nic Reit Manasactions withl at a meeting
ment’s internaulations on Tr
e acquisition
ame
Acquisition Pchase and SaleAcquisition D
Funds Method
d Acquisition Pr
d Acquisition D
lic Co., Ltd. is anCorporation (Actt Ordinance on tereinafter referre
Hulic Reit Manrefer to “Notice
Only
Name Hulic R2-26-9Eiji To(TSE CContacAsset MHulic REiji ToKazukPlanniTel: +8
otice concernin
(hereinafter rets of Hulic Rthe decision s the “Anticip
erty is an InteCorporation (the Enforcem
No. 480 of 20gement, and
h Interested Pg of Hulic Re
al policies, anransactions w
Price e Agreement
Date (Note 2)
ice” does not in
Date” is the an
n Interested Pert No. 198 of 195the Investment Ted to as the “Enfnagement’s Reguconcerning the
1
of REIT IssueReit, Inc.
9 Hatchobori, okita, ExecutivCode: 3295) ct: Management Reit Managem
okita, Represekai Chokki, ing and Admin81-3-6222-72
ing the Acquis
referred to asReit, Inc. (hto acquire th
pated Propert
erested Perso(Act No. 198ment Ordinan000, as amend
is a related Parties. Hulieit’s board ofnd further, hwith Intereste
: Tokyo C: Gate City: Shinagaw: 4,370 mi: April 14,: April 16,: Hulic Co: Borrowin: Full paym
nclude consumpt
nticipated date
rson, etc. (as de51, as amended; Trust and Investforcement Ordinulations on TranBorrowing of F
er
Chuo-ku, Tokve Officer
Company ment Co., Ltd.entative Direct
Director, Gnistration Dep50
sition of Prope
s “Hulic Reit ereinafter ref
he following ty”).
on, etc. (as de of 1951, as ance on the ded; hereinaftperson accor
ic Co., Ltd. hf directors, w
has carried oued Persons.
ommercial Pry Ohsaki wa-ku, Tokyoillion yen (Note
, 2015 , 2015 ., Ltd. (Note 3)
ngs (Note 4) and cment upon del
tion or local tax
of acquisition
efined in Articlehereinafter refe
tment Corporationance”)) of Hulinsactions with Inunds” announce
kyo, Japan
. tor, President
General Manapartment
erty
Managementferred to as (stratified ow
efined in Artiamended; herInvestment Tter referred tording to Hulihas acquired
which is requiut the decisio
operty (office
1)
cash on hand livery
xes or the costs a
stated in the re
e 201 of the Acerred to as the “Aon Act (Cabinetc Reit Managem
nterested Partiesed today.
April
and CEO ager of Co
nt”), which is “Hulic Reit”
wnership inte
ticle 201 of threinafter refeTrust and Ino as the “Enfic Reit Mana
d Hulic Reit’ired under thon-making pr
e property)
and expenses re
relevant purchas
ct on InvestmenAct”) and Articlt Order No. 480
ment, and is a rels.
14, 2015
rporate
entrusted ”), hereby erest, etc.)
he Act on erred to as nvestment forcement agement’s s consent e Act and rocedures
elated to the
se and sale
nt Trust and e 123 of the of 2000, as
lated person
2. Reas
In accordimprove factors.
(1) Char
The AntiIts locatioSaikyo, S
The suplrelativelystation isMorevoerexpected district.
(2) Char
The AnticType 1 ucentered West Towcultural f
The officfloor of 8ample cothus remawhere lar
son for acqu
dance with ththe portfolio
racteristics of
icipated Propeon is particula
Shonan-Shinju
ly of office sy late compares becoming ir, the area suto be further
racteristics of
cipated Propeurban redevelo
around the buwer and the Efacilities) and
es are of relat859 to 1,236 tommon use arains highly corge office buil
uisition
he basic polico. Hulic Reit
f the location
erty is directlyarly convenienuku lines and t
space in the ed to other maincreasingly urrounding Or developed g
f the property
erty is a large-opment projecusiness/commEast Tower, aa residential t
tively high-sptsubo, ceiling ea, including
ompetitive, dedings are con
cies of HulicManagemen
n
y connected tont for transpothe Rinkai line
Osaki area beajor business concentrated
Osaki station igoing forward
y
-scale complexct. It is a rede
mercial buildinand a low-risower with 20
ec with regardheight of 2,6the 495-seate
espite being ovcentrated, Gat
2
c Reit, the punt assessed th
to the Shin-Hiortation withine.
ecame fully dareas in Tokywith large o
is in close pd. Thus, it
x built in 199eveloped facings with 24 sse portion witstories above
d to functiona650mm and Oed “Gate City ver 15 years ote City Ohsak
urpose to acqhe Anticipate
igashi Exit ofn the Osaki ar
developed froyo, but in receoffice buildinroximity to Sis an area w
99 as part of thlity replete wtories above th commercia
e ground (the “
ality, namely, eOA floor area
Hall” and a fold. Among
ki is a landmar
uire the Antid Property b
f Osaki stationrea, with acce
om around thent years, the angs due to reShinagawa staith growing p
he Osaki Statiwith a variety
ground (2 offal facilities (““South Park T
exclusively owof 100mm, anfive-story tall the areas sur
rk due to its sc
icipated Propased on the
n by a pedestess to the JR Y
he late 1990s,area surroundedevelopmenttation, a statiopotential as a
ion No. 2 Wesof urban func
fice towers, n“Gate City PlTower”).
wned area on nd the high qatrium. The
rrounding Osacale and sense
perty is to following
trian deck. Yamanote,
, which is ding Osaki t projects. on that is a business
st District, ctions and
namely the laza”) and
a standard quality and e complex aki Station e of grade.
3. OverSpecifiedAnticipaTrustee Date TruExpiratioNearest SAddress
Land
Building
Collatera
PM comp
Master le
Appraisa(as of) AppraisaPML valLease su Total Occu Main Total Total LeasSpecial r
(1) The AWest reside
(2) The d300%Statio
(3) The sunder
(4) The l(42,4
(5) The bfloor (the tfor thowneentire
(6) The a
rview of the d assets categorated Acquisitio
ust Initiated on date of trust Station (domicile)
Lot numBuildingFloor-arZoning Site areaType of
g
Comple
Constru
Number
Use
Total flo
Numberspaces Type of
al
pany
ease company
al value
al company lue ummary l leasable area upancy rate n tenant l number of tenl lease income (e and guarantee
remarks Anticipated ProTower and sho
ential tower. designated floor
% for the portionon No. 2 West Dsite area includer the Gate City land ownership 76.01m2) (appr
building to be aof the West Tow
total portion of he residential toership ratio for te complex. appraisal value
Anticipatedry on Price
period
mber g-to-land ratio rea ratio
a f ownership
eted
uction
r of floors
oor space
r of parking
f ownership
nants (annualized) e deposits
perty consists oops of the comm
r area ratios forn over 30m, froDistrict, Type 1 es 33.30m2 of LOhsaki Block Mratio is equival
rox. 2.11%). acquired is: apprwer of the Antioffices and sho
ower of the Antithe business/co
indicates the am
Property (NTrust bene4,370 millSumitomoApril 16, 2April 16, 2Osaki Stat11-1 and o500-1 and 60% 660% (NoQuasi-indu42,509.31Co-owners(Business/(Residenti(Business/reinforced(Residenti(Business/(ResidentiOffice, ret(Business/(Residenti(Business/(ResidentiCo-ownersNone (Business/(Residenti(Business/(Residenti4,500 mill(March 1, Japan Rea1.97% (No
3,835.78m100.0% (N
UndiscloseUndiscloseUndiscloseUndiscloseNone
of co-ownershipmercial low-rise
r the land underom the Yamate-D
urban redeveloLot No. 500-2 (tManagement Relent to the ratio
rox. 83.0% co-oicipated Propertops accounts foricipated Propertmmercial build
mount that is eq
3
Note 1) eficiary interestlion yen o Mitsui Trust B2015 2025 tion on the JR Lother lots, Ohsad 500-2, Ohsaki
ote 2) ustrial Districtm2 (Note 3)
ship of land (N/Commercial Tial Tower) Dece/Commercial T
d concrete ial Tower) Stee/Commercial Tial Tower) B2/2tail, residence/Commercial Tial Tower) 18,1/Commercial Tial Tower) Horiship of stratifie
/Commercial Tial Tower) Mits/Commercial Tial Tower) Mitslion yen (Note 62015)
al Estate Institutote 7)
m2 (Note 8) Note 9)
ed (Note 10)ed (Note 10)ed (Note 10)ed (Note 10)
p of stratified oe portion (B1 to
r normal conditiDori street, but opment project the site deemed
Regulations). of the right of
ownership of stty and approx. 2r approx. 2.4% rty (equivalent tdings together w
quivalent to the
s
Bank, Limited
Line (1-minute waki 1-chome, Sh
1-chome, Shin
ote 4) ower) January ember 1998 Tower) Steel
l reinforced conower) B4/24F
20F
ower) 287,349.41.79m2
ower) Horizontizontal 5; Meched ownership in
ower) Mitsui Fusui Fudosan Hoower) Mitsui Fu
sui Fudosan Ho6)
te
wnership intere3F) and stratifi
ions are: 400% as the Anticipa(District A), the
d as one housing
site in the co-ow
tratified owners2.4% co-ownerof the entire co
to approx. 0.1%with the residen
ownership inte
walk) hinagawa-ku, Toagawa-ku, Toky
1999
structure, rein
ncrete, reinforce
75m2
tal 295; Mechanhanical 153 terest (Note 5)
udosan Co., Ltdusing Lease Coudosan Co., Ltdusing Lease Co
est for the officeied ownership i
for the portion ated Property fae floor area ratig estate togethe
wnership of Lo
ship interest forrship of floors complex); and str
% of the entire ctial tower will b
erest in the Anti
okyo kyo
nforced concr
ed concrete
nical 370
d. o., Ltd. d. o., Ltd.
es on the 8th flointerest for 6 un
n within 30m or alls under the Oio is 660%. er with Lot No.
ot No. 500-1
r the offices on commonly usedratified ownersh
complex). Thube approx. 2.5%
icipated Propert
ete, steel
oor of the nits in the
less, and Osaki
500-1
the 8th d by shops hip interest us, the % of the
ty.
(7) The f(8) The t
Prope(9) The t
respefollow(BusiThe pportiogener(ResiThe pHulicend-t
(10) Informend te
(11) The lconstsomemetalhave and phealth
figure is based ototal leasable arerty. tenants of the prectively. The mws: iness/Commercportion of the buon, and Hulic Rrated from theidential Tower) portion of the rec Reit will recetenants. mation is not dienants and the mland was previotruction of the Be soils exceededls pertaining to been appropria
planting soil, weh hazard to peo
on the earthquarea indicates the
roperty are one master lease com
cial Buildings) usiness/comme
Reit will receiv entire joint m
esidential towereive an amoun
isclosed as we hmaster lease co
ously used as a fBuilding for thed the applicable
acquisition of pately transportede have confirme
ople as long as t
ake PML appraie leasable area w
master lease companies sublea
ercial buildings ve an amount i
management po
r to be acquirednt equivalent to
have not receivmpany. factory, etc., ane purpose of rem
standards, suchpublic lands (Tod to an off-site ded with Engineehe current oper
4
isal report by Sowhich is equiva
ompany for busase the Property
to be acquired in proportion trtion.
d by Hulic Reito 90% of rents
ved consent for
nd the land survmoval of surpluh as “the standaokyo Metropolidisposal field. ering and Risk ration/managem
ompo Japan Nipalent to the own
siness/commercy to sublessees.
by Hulic Reit to its rights in
t is subleased b and common
disclosure from
vey was conductus soil as a resulards for the procitan Governmen As the Land iServices Corpo
ment and use co
pponkoa Risk Mnership interest
cial buildings an The overview
is a part of therents and comm
by the master larea charges c
m the parties con
ted prior to the lt of the construcessing of contant Bureau of Ens covered by bu
oration that it isntinue.
Management Inin the Anticipa
nd residential tow of their opera
e joint managemmmon area char
lease companycollected from
ncerned, includ
commencemenuction work. Aaminated soil bnvironment),” suildings, asphals unlikely to cau
nc. ated
ower, ations is as
ment rges
y, and the
ding the
nt of the Although by heavy such soils lt/tiling use any
4. OverTrade NLocationName anRepresenPrimaryPaid-in Date of F
Net Asse
Total Ass
Relations
Ca
PeRe
TraRe
WhSelper
5. StatuProperty name/namacquisitio
Proper(Lo
Gate City O(11-1 and oOhsaki 1-cShinagawa
6. Over
N/A
7. Acqu
Ac
rview of the Name n
nd title of ntative y Business LinCapital
Foundation
ets
sets
ship between H
apital Relation
rsonnel elationship
ansactional elationship
hether or not thller is a related rson.
us of the propacquisition fr
me, (ii) the relon are indicaterty Name cation)
Ohsaki other lots, chome, a-ku, Tokyo)
rview of inter
uisition sche
cquisition Dec
Date
April 14, 201
Seller Hulic 7-3, N
Sabur
nes Ownin
22,29
March
192,4
744,6Hulic Reit or Hu
nship As of Reit. an int
As of
The seregardReit Magreem
he The seseller
perty acquirerom a person lationship withed.
Previo
AcquAcqu
(i)Hulic Co., (ii)Parent com(iii)Acquisitio
Omitted becm
rmediary
edule
ision
15
Co., Ltd. Nihonbashioden
ro Nishiura, Pre
ng, lease, sale a
0 million yen (a
h 26, 1957
35 million yen
05 million yen ulic Reit Manag
f February 28, 2 The seller is terested person u
f today, certain e
eller has entereding the trusteeManagement hament.
eller is a relatedis also an intere
er that has spec
h the person t
ous owner/Trus
(i), (ii), (iuisition (assignuisition (assign
Ltd. mpany of Hulicon for investme
cause the propermore than one (
April 200
September 2
Execution Da
Purchase and
Agreemen
April 14, 20
5
nmacho, Chuo-k
esident and Chie
and brokerage o
as of December
(as of Decemb
(as of Decembgement and the
2014, the sellerthe parent compunder the Act.
employees of H
ed into master les with respect t
ave entered into
d person of Hulrested person of
cial interests ithat has specia
st beneficiary
iii) nment) Price nment) Time
c Reit Management
rty has been ow(1) year
02
2005
ate of
d Sale
nt
A
015
ku, Tokyo
ef Executive Of
of real propertie
r 31, 2014)
er 31, 2014)
er 31, 2014) seller
holds 12% of thpany of Hulic R
Hulic Reit Mana
ease and properto the assets helo a sponsor supp
lic Reit/Hulic Rf Hulic Reit Ma
is as follows. al interests, an
Seco
ment
Thos
wned
Anticipated Paym
April 16, 2
fficer
es
he outstanding iReit Managemen
agement are sec
rty managementld by Hulic Reitport agreement
Reit Managemenanagement, as st
In the table bnd (iii) the bac
ond preceding o
(i), Acquisition (aAcquisition (a
se other than a pint
ment Date
2015
investment unitnt (100% contr
conded from the
nt agreements wt. Hulic Reit aand trademark
nt. As describtipulated in the
below, (i) theckground/reas
owner/Trust ben
(ii), (iii) assignment) Priassignment) Tim
person that hasterests
-
-
Anticipated A
Dat
April 16
ts of Hulic ibution) and
e seller.
with Hulic Reit and Hulic license
bed above, the Act.
e company son for the
neficiary
ce me
special
Acquisition
te
, 2015
8. FutuThe impa
fiscal pe
February
Financia
forecasts
ure outlook act of the acq
riod ending A
y 29, 2016 (S
l Report for t
s of the financ
quisition of t
August 31, 2
eptember 1, 2
the Fiscal Pe
cial results.
the Anticipat
2015 (March
2015 to Febr
eriod Ending
6
ted Property
1, 2015 to A
ruary 29, 201
February 28,
on the outloo
August 31, 20
6) will be mi
, 2015, which
ok for the fin
015) and the
inor. Please
h is announce
nancial result
e fiscal period
e see the Sum
ed as of toda
ts for the
d ending
mmary of
y for the
AAD
Am
A
9. SumAppraisal valuAppraiser Date of valuat
Appraisal vamethod
Appraisal capitalizati (1) Oper
Effect
Losse
(2) Oper
Maintfee/PM
Utility
Repai
Tenanexpen
Taxes
Insura
Other
Net op(1)-(2))
(4) depos
(5) Ca
Net cash Cap rateAppraisal vmethod
Disco
Termi
Appraisal valuRatio of lanRatio of bu
Other matters co
mmary of Appue
tion
Item alue based
value basedon method rating revenue
tive gross inco
es from vacanc
rating expense
tenance and mM fee(3)
y expenses
ir expenses
nt recruitmentnses, etc. s and public du
ance premium
r expenses
perating inco
Profit fromsits apital expend
h flow ((3)+(4e value based on
ount rate
inal cap rate
ue based on cond uilding
onsidered by app
va
praisal Repo
on income
d on direct
e
ome
cy, etc.
es
management
t/solicitation
ues
m
ome (NOI:
m security
ditures
4)-(5))
n DCF
ost method
raiser in determin
alue
ort
Breakdown
4,5
4,52
332
12
2
1
13.9
4,4
3.5
4.0
4.4477.122.9
nation of appraisa
7
n
00Estimatecapitaliz
20
1525 Estimate
long-term10 Estimate
long-term24
66Estimateexpensessimilar r
19 Estimate
6Estimatelong-termengineer
2 Estimate
28 Estimate
1Estimatereal prop
1 Estimateassociati
91
0There is
14Estimatelevel, agrepair wo
779%
80
5%Estimatethe real real prop
0%
Estimateinvestmetarget, gand prop
401%9%
al
4,500 mJapan Real E
March
ed by combination method
ed based onm rent leveled based on m occupancy r
ed based on evs payable to theal property, e
ed based on eved based onm repair planring reports an
ed based on ev
ed based on thed based on rperty, etc. ed with parkion as other ex
no refundable
ed by taking ge, long-term orks in engine
ed by comprehproperty by r
perty transactied by compreent yields, rigeneral predicperty price, tre
million yen Estate Instituth 1, 2015
Remarksing the appraand the DCF
evaluation of
evaluation ofrate level
valuation by rehe managemeetc. valuation of pan evaluation, average ann
nd other factor
valuation of as
e standard taxreference to th
king fees payxpenses
e deposit unde
into considerepair plan a
eering reports
hensively conreference to ions, etc. ehensively cosks of the retion of econo
end of rents, et
None
te
(m
ks aisal values unmethod
f expected st
f expected st
reference to thent association
ast results n consideringnual cost of rrs of similar re
ssumed tenant
xable value fothe premium
ayable to the
er the lease ag
eration capitaand average of similar rea
nsidering the iinvestment yi
onsidering fueal property omic growth tc.
millions of yen)
nder the direc
able mid- an
able mid- an
he managemenn, cost level o
g cost leveepair works ieal property
t turnover rate
r 2014, etc.rate of simila
e managemen
greement.
al expenditurannual cost o
al property
ndividuality oelds of simila
uture trends oas investmengoing forwar
)
ct
nd
nd
nt of
el, in
e
ar
nt
2
re of
of ar
of nt rd
Notes: (1) Incom
Hulic(2) Each (3) The m
maintrespeHulic
10. O
Engineer
Notes: (1) “Cos
withi(2) “Cos
appe
This presInfrastruc* Address
me and expendic Reit or Hulic Ramount is roun
maintenance antenance and ma
ect to building mc Reit and could
Overview of B
Inspection c
ring and Risk Se
st of urgent/shoin one year as sst of long-termearing on the Bu
ss release distcture, Transpos of the websi
iture shown in tReit Managemended to the nearnd management anagement fee amanagement and harm unithold
Building Insp
ompany
ervices Corpora
ort-term repairs”shown on the B
m repairs” contuilding Inspecti
tributed to: ort and Tourismite of Hulic Re
the above table ent. rest JPY 1 millifee and PM fee
and PM fee amod PM services,
der interests.
pection Repo
Insperfo
ation March
” contains the cuilding Inspectains the averagion Report as up
The Tokyo Sm (MLIT) Preeit: http://ww
8
are based on th
ion. e stated above aount levels maywhich could po
ort
spection formed on
h 31, 2015
cost of updatingtion Report. ge annual amopdating and rep
Stock Exchaness Club and Mww.hulic-reit.
he appraisal rep
are combined, by affect the otheose an obstacle
Cost ourgent/shor
repair(millions o
(1)
g and repair wo
ount rounded tpair work foreca
ge Press ClubMLIT Press C.co.jp/
ort, and not bas
because individuer transactions oto efficient per
of rt-term rs of yen)
C
0
orks and urgent
o the nearest mast over the nex
b (Kabuto Cllub for Constr
sed on any proj
dual disclosure oof each contracrformance of se
Cost of long-term(millions of
(2)
repairs general
million yen foxt 12-year perio
lub), Ministryruction Public
ections by
of the ctor with ervices by
m repairsf yen)
21
lly required
or the costs od.
y of Land, cations
Attachme
Reference
Reference
Reference
ents
e Attachment
e Attachment
e Attachment
1 Map
2 Photo of t
3 Portfolio
the Anticipate
List after Acq
9
ed Property
quiring the Annticipated Propperty
Attachm
Refere
ments
nce Attachmeent 1 Map
10
Refere
nce Attachmeent 2 Photo o
of the Anticipa
11
ated Property
Refere
Catego
Tokyo Com
mercial P
roperties
pp
pp
Next G
eneration Assets
gC
e
nce Attachme
ory
Office properties
Hulic Kam
Hulic Ku
Toranomo
Rapiros R
Hulic Tak
Hulic Kan
Hulic Kan
Hulic Kak
Ochanom
Hulic Hig
Sasazuka
Tokyo Ni
Gate City
Retail properties
Oimachi
Oimachi
Dining Sq
Hulic Jing
Hulic Shi
Yokoham
Tokyo Comm
Private nursing hom
es
Aria Mats
Trust Gar
Trust Gar
Trust Gar
ork Ikebukuro
ent 3 Portfol
Property
miyacho Buildin
udan Building (L
on First Garden
Roppongi
kadanobaba Buil
nda Building
ndabashi Buildin
kigaracho Build
mizu Sola City
gashi Ueno 1-ch
a South Building
ishi Ikebukuro B
y Ohsaki
Subtotal
Redevelopment
Redevelopment
quare Akihabara
gumae Building
injuku 3-chome
ma Yamashitacho
Subtotal
mercial Propertie
subara
rden Yoganomor
rden Sakurashim
rden Suginami M
Subtotal
o Network Cent
io List after A
ng
Land)
lding
ng
ding
ome Building
Building
Building (#2)
Building (#1)
a Building
Building
o Building
es Subtotal
ri
machi
Miyamae
er
12
Acquiring the A
Location
Minato Ward, Tokyo
Chiyoda WardTokyo
Minato Ward, Tokyo
Minato Ward, Tokyo
Toshima WardTokyo
Chiyoda WardTokyo
Chiyoda WardTokyo
Chuo Ward, Tokyo
Chiyoda WardTokyo
Taito Ward, Tokyo
Shibuya WardTokyo
Toshima WardTokyo
Shinagawa Ward, Tokyo
-
Shinagawa Ward, Tokyo
Shinagawa Ward, Tokyo
Chiyoda WardTokyo
Shibuya WardTokyo
Shinjuku WardTokyo Yokohama City, Kanagawa
-
-
Setagaya WardTokyo
Setagaya WardTokyo
Setagaya WardTokyo
Suginami Ward, Tokyo
-
Toshima WardTokyo
Anticipated Pr(AnticipateAcquisitio
Price (millyen) (Note
20,100 (Not
d, 11,
8,623 (Not
5,160 (Not
d, 3,
d, 3,
d, 2,
2,
d, 22,854 (Not
2,
, 2,100 (Not
d, 1,580 (Not
4,370 (No
90,
9,
6,(Not
d, 3,
, 2,
d, 5,
4,
31,
122,
d, 3,
d, 5,
d, 2,
2,
14,
d, 4,
roperty ed) on ion
e 1)
InvestmRatio (%(Note 2
te 4) 12
,100 7
te 4) 5
te 4) 3
,900 2
,780 2
,500 1
,210 1
te 4) 14
,670 1
te 4) 1
te 4) 1
te4) 2
,947 58
,456 6
,166te 4)
3
,200 2
,660 1
,550 3
,850 3
,882 20
,829 78
,244 2
,390 3
,850 1
,760 1
,244 9
,570 2
ment %) 2)
(AntiAcquis
(N
2.9% Februa
7.1% Februa
5.5% Februa
3.3% Februa
2.5% Februa
2.4% Februa
.6% Februa
.4% Februa
4.8% Novemb
.7% Octobe
.3% March
.0% March
2.8% April
8.2%
6.1% Februa
3.9% Februa
2.0% Februa
.7% Februa
3.6% Octobe
3.1% Octobe
0.4%
8.6%
2.1% Februa
3.5% Februa
.8% Februa
.8% Februa
9.1%
2.9% Februa
icipated) sition Date
Note 3)
ary 7, 2014
ary 7, 2014
ary 7, 2014
ary 7, 2014
ary 7, 2014
ary 7, 2014
ary 7, 2014
ary 7, 2014
ber 7, 2014
er 16, 2014
h 9, 2015
h 31, 2015
16, 2015
-
ary 7, 2014
ary 7, 2014
ary 7, 2014
ary 7, 2014
er 16, 2014
er 16, 2014
-
-
ary 7, 2014
ary 7, 2014
ary 7, 2014
ary 7, 2014
-
ary 7, 2014
Notes: (1) “(A
agreincl
(2) “Inveachseco
(3) “(A(4) Figu
in th
Tabata Ne
Hiroshim
Atsuta Ne
Nagano N
Chiba Ne
Sapporo N
Keihanna
Next Gener
Anticipated) Aeement for eaclude consumpvestment Ratih of the Antiond decimal p
Anticipated) Acure based on the relevant pr
etwork Center
ma Network Cent
etwork Center
Network Center
etwork Center
Network Center
a Network Cente
Subtotal
ration Properties
Total
Acquisition Prch of the proption or local t
io” contains thicipated Propplace. cquisition Datthe ratio of strroperty.
ter
er
Subtotal
rice” lists theperties, roundeaxes or the co
he percentage erties compar
te” contains thratified owner
13
Kita Ward, Tokyo Hiroshima City, Hiroshima Prefecture Nagoya City, Aichi Prefecture Nagano City, Nagano Prefecture
Inzai, Chiba
Sapporo, Hokkaido
Kizugawa, Kyoto
-
-
-
e acquisitioned to the neareosts and expen
of the (anticipred to the tot
he acquisitionrship interest o
1,
1,
1,
7,
2,
1,
19,
33,
156,
price listed est one millionses related topated) acquisital (anticipate
n date stated inor trust co-ow
,355 0
,080 0
,015 0
305 0
,060 4
,510
,250 0
,145 12
,389 2
,218 100
in the relevn yen. The acthe acquisitio
ition price of eed) acquisition
n the purchasewnership intere
0.9% Februa
0.7% Februa
0.6% Februa
0.2% Februa
4.5% Decemb
1.6% Decemb
0.8% Octobe
2.3%
1.4%
0.0%
vant purchasecquisition pricon. each acquiredn price round
e and sale agreest owned by H
ary 7, 2014
ary 7, 2014
ary 7, 2014
ary 7, 2014
ber 16, 2014
ber 16, 2014
er 16, 2014
-
-
-
and sale e does not
d asset and ded to the
eement. Hulic Reit