Ichigo Preserves and Improves Real Estate
[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
Issuer
Ichigo Office REIT Investment Corporation (8975)1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo Representative: Yoshihiro Takatsuka, Executive Director www.ichigo-office.co.jp/english
January 10, 2017
Asset Management Company
Ichigo Investment Advisors Co., Ltd.Representative: Wataru Orii, President
Inquiries: Hiroto Tajitsu, Head of Business Administration Tel: +81-3-3502-4891
Ichigo Office REIT Portfolio Occupancy (Flash Data) - December 2016End of November 2016 (Final: A) | End of December 2016 (Flash: B) | Difference (B-A) | ||
Total | 98.1% | 98.1% | - | |
By Asset Class | Office | 98.5% | 98.6% | +0.1% |
Other | 95.9% | 95.2% | -0.7% | |
By Area | Central Tokyo | 97.9% | 98.0% | +0.1% |
Tokyo Metropolitan Area | 98.8% | 98.8% | - | |
Four Major Regional Cities | 97.2% | 97.1% | -0.1% | |
Other Regional Cities | 98.7% | 98.4% | -0.3% | |
No. of Assets | 86 | 86 | - | |
No. of Tenants | 899 | 899 | - | |
Leasable Area | 258,633.73m2 | 258,600m2 | ||
Leased Area | 253,844.83m2 | 253,700m2 |
(Note 1) The above figures have not been audited.
(Note 2) Leasable Area is the total space of the individual properties that is available to be leased and is subject to minor adjustments due to refurbishing or individual rental contract terms.
(Note 3) Central Tokyo refers to Chiyoda, Minato, Chuo, Shinjuku, Shibuya, and Shinagawa Wards. Tokyo Metropolitan Area refers to Tokyo (excluding the six wards above), Kanagawa, Chiba, and Saitama Prefectures. Four Major Regional Cities refers to Osaka, Nagoya, Fukuoka, and Sapporo.
(Note 4) Flash Data Leasable Area and Leased Area are rounded down to the nearest hundred square meters.
Explanation of Changes
Total portfolio occupancy was unchanged from November. Other occupancy decreased because of lower occupancy at Ichigo Serviced Apartments Ginza, and Four Major Regional Cities and Other Regional Cities occupancy decreased because of lease terminations at Ichigo Hakata Building and Ichigo Sendai East Building. Office occupancy increased due to new tenants at Ichigo Higashi Gotanda Building and Ichigo Nishi Honmachi Building.
Value-Add Actions
Ichigo Office REIT has carried out value-add enhancements at Ichigo Mita Building to prepare for a rapid lease-up of three floors (1,288m2) to be vacated in March 2017. By improving shared kitchen areas and restrooms, Ichigo Office REIT is working to increase the building's competitiveness and tenant appeal in order to bring in new tenants quickly and at higher rents.
Ichigo Office REIT will continue to drive higher earnings for shareholders via value-add capex and strategic tenant leasing.
Restroom at Ichigo Mita Building
Before Renovation AfterRenovation
Ichigo Office REIT Investment Corporation published this content on 10 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 January 2017 06:13:01 UTC.
Original documenthttp://www.ichigo-office.co.jp/module/_newsPdfReit/480/IchigoOffice_20170110_Occupancy_ENG.pdf
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