For Immediate Release · building a strong portfolio that features both revenue stability and...

Disclaimer: This document is a press release for making a public announcement concerning the completion of acquisition of assets by SANKEI

REAL ESTATE Inc., and has not been prepared for the purpose of solicitation for investment.

1

March 12, 2019 For Immediate Release

Real Estate Investment Trust Securities Issuer

1-7-2 Otemachi, Chiyoda-ku, Tokyo SANKEI REAL ESTATE Inc. Representative: Yuichi Ota, Executive Director

(TSE code: 2972) Asset Management Company

Sankei Building Asset Management Co., Ltd. Representative: Yuichi Ota

President and Chief Executive Officer Contact: Atsushi Mukai

Director and Chief Financial & IR Officer TEL: +81-3-5542-1316

Notice Concerning Completion of Acquisition of Assets SANKEI REAL ESTATE Inc. (“SANKEI REAL ESTATE”) announces that it today completed the acquisition of real estate and trust beneficiary rights for the following 8 properties (the “Acquired Assets”) indicated in the securities registration statement submitted on February 7, 2019. 1. Overview of Acquisition

Category Property number

Property name Location Acquisition price (millions of yen)

(Note 1)

Office buildings

A-1 Tokyo Sankei Building (Note 2) Chiyoda-ku, Tokyo 2,509

A-2 BREEZÉ TOWER (Note 2) Kita-ku, Osaka-shi, Osaka

8,600

A-3 S-GATE NIHONBASHI-HONCHO (Note 2)

Chuo-ku, Tokyo 6,698

A-4 S-GATE AKIHABARA Chiyoda-ku, Tokyo 2,055

A-5 Hibiya Sankei Building Chiyoda-ku, Tokyo 5,829

A-6 Hatchobori Sankei Building Chuo-ku, Tokyo 4,959

A-7 Toyo Park Building Koto-ku, Tokyo 3,782

Subtotal (7 properties) ‐ 34,434

Sub assets (Note 3)

B-1 Hotel Intergate Tokyo Kyobashi Chuo-ku, Tokyo 8,961

Subtotal (1 property) ‐ 8,961

Total (8 properties) ‐ 43,395

(Note 1) “Acquisition price” is the sale and purchase price of real estate and each trust beneficiary right stated in each sale and purchase

agreement for asset acquisition rounded down to the nearest million yen. The sale and purchase prices do not include consumption

tax, local consumption tax and the various expenses required for the acquisition.

(Note 2) The acquisition price of “Tokyo Sankei Building” and “S-GATE NIHONBASHI-HONCHO” are the figures equivalent to the co-ownership

interests in each property acquired by SANKEI REAL ESTATE (2% and 51%, respectively) (*1). The acquisition price of “BREEZÉ TOWER”

is the figure equivalent to the quasi co-ownership interest in the sectional ownership of the office portion acquired by SANKEI REAL

ESTATE (30%) (*2).

(*1) As for “Tokyo Sankei Building,” SANKEI REAL ESTATE acquired 2% co-ownership interest in the ownership of the site, 2%

quasi co-ownership interest in the leasehold and 2% co-ownership interest in the ownership of the building. As for

“S-GATE NIHONBASHI-HONCHO,” trust beneficiary rights with 51% co-ownership interest in the ownership of the site

and building as trust assets were acquired. “Co-ownership interest in each property (2% and 51%, respectively)” is used

as such meaning. For details, please refer to the individual asset table of “Tokyo Sankei Building” and “S-GATE

NIHONBASHI-HONCHO” in “2. Overview of Individual Properties of the Acquired Assets” below.



2

(*2) As for “BREEZÉ TOWER,” SANKEI REAL ESTATE acquired 30% quasi co-ownership interest in trust beneficiary rights with

sectional ownership of the office portion and use rights of the site (ownership of the site, leasehold and mutual use

rights) as trust assets. “Quasi co-ownership interest in sectional ownership (30%)” is used as such meaning. For details,

please refer to the individual asset table of “BREEZÉ TOWER” in “2. Overview of Individual Properties of the Acquired

Assets” below.

(Note 3) “Sub assets” collectively refer to asset types that possess characteristics different from “office buildings” and which contribute to

building a strong portfolio that features both revenue stability and growth capable of withstanding the cyclical real estate market

(Note 4).

(Note 4) “Cyclical real estate market” refers to a phenomenon showing a repeated cycle in the real estate market of a prosperous period

wherein the price of real estate or occupancy rate/rent increases and a recession period wherein the price of real estate or

occupancy rate/rent decreases.

(1) Date of conclusion of

sale and purchase agreement

January 23, 2019

(2) Acquisition date March 12, 2019 (3) Seller Please refer to “3. Overview of Seller” below (4) Funds for acquisition Proceeds from the issuance of new investment units resolved at SANKEI

REAL ESTATE’s board of directors’ meeting held on February 7, 2019 and March 5, 2019 alongside borrowings (Note)

(5) Settlement method Payment of full amount at the time of delivery (Note) For the said borrowings, please refer to “Notice Concerning Borrowing of Funds” announced today.

2. Overview of Individual Properties of the Acquired Assets

The table below shows the overview of each Acquired Asset (the “individual asset table”). In addition, the terms used in the individual asset table are as follows. Please refer to the individual asset table together with the explanation on the terms listed below.

In principle, unless otherwise noted, the status as of October 31, 2018 is indicated. ・ “Type of specified asset” indicates the type of each Acquired Asset upon acquisition. ・ “Location” indicates the residential address of each real estate. ・ “Acquisition date” indicates the acquisition date stated in each sale and purchase agreement of the

Acquired Assets. ・ “Acquisition price” indicates the purchase price of real estate and trust beneficiary rights indicated in

each sale and purchase agreement of the Acquired Assets (excluding consumption tax, local consumption tax and various expenses including brokerage commission, and rounded down to the nearest million yen).

・ “Overview of trust beneficiary rights” indicates the overview of the trustee, trust establishment date and trust expiration date upon the acquisition of each Acquired Asset (after the change when changes are made due to the acquisition).

・ “Site area” of the land is indicated based on the information in the registry. ・ “Use district” of the land indicates the type of use district stipulated in Article 8, Paragraph 1, Item 1 of

the City Planning Act. ・ “Floor area ratio” and “Building coverage ratio” of the land indicate, in principle, the figures before the

increase or decrease through easing or restrictive measures defined in accordance with related laws and regulations such as the Building Standards Act and the City Planning Act. Moreover, certain easing or restrictive measures may be applied to the “Floor area ratio” or “Building coverage ratio” in this document depending on the Acquired Asset.

・ “Type of ownership” of the land indicates the type of right for each Acquired Asset held by SANKEI REAL ESTATE (trustee of real estate trust for trust beneficiary rights in real estate).

・ “Structure and floors” of the building is indicated based on the information in the registry. ・ “Construction completion” of the building indicates the date of completion of each building indicated in

the registry. If there are multiple main buildings, the date of the oldest building in the registry is indicated.

・ “Total floor area” of the building is indicated based on the information in the registry. Moreover, “Total



3

floor area” indicates the total floor area of main buildings and attached buildings. It indicates the total floor area of the entire building regardless of sectional ownership or quasi co-ownership.

・ “Use” of the building indicates the main use among the building type in the registry. ・ “Type of ownership” of the building indicates the type of right for each Acquired Asset held by SANKEI

REAL ESTATE (trustee of real estate trust for trust beneficiary rights in real estate). ・ “Property management company” indicates the property management company with which SANKEI

REAL ESTATE has concluded a property management agreement for each Acquired Asset. ・ “Master lease company” indicates the master lease company with which SANKEI REAL ESTATE has

concluded a master lease agreement for each Acquired Asset. Moreover, the co-owners of some Acquired Assets may be the master lease company.

・ “Master lease type” indicates the type of master lease agreement (pass-through-type or fixed-rent-type). “Pass-through-type” indicates master lease agreements with no rent guarantee and “fixed-rent-type” indicates master lease agreements with rent guarantee.

・ “Appraisal value” is the appraisal value as of October 31, 2018 stated in each real estate appraisal report. The appraisal of the Acquired Assets is entrusted to Japan Real Estate Institute, The Tanizawa Sōgō Appraisal Co., Ltd. and Daiwa Real Estate Appraisal Co., Ltd.

・ “PML value” is indicated based on the engineering report for December 2018 prepared by Tokio Marine & Nichido Risk Consulting Co., Ltd.

・ “Number of tenants” indicates the number of tenants based on the lease agreement of each Acquired Asset as of October 31, 2018 (or as of the point of time noted separately if any). However, the total number of end tenants is indicated for the portion in the pass-through-type master lease agreement when a master lease agreement has been concluded for the said asset.

・ “Total rental revenue” indicates the amount calculated by annualizing the monthly rent (only for rent of rental rooms excluding usage fee of warehouse, signboard, parking lot, etc. and including common service expenses. Free rent and rent holiday will not be taken into consideration. Consumption tax, etc. are not included) of the building indicated in the lease agreement of each Acquired Asset effective as of October 31, 2018 (or as of the point of time noted separately if any), rounded to the nearest million yen. Moreover, the amount calculated by annualizing the monthly rent in the lease agreement concluded with the end tenant for the portion in the pass-through-type master lease agreement and by annualizing the monthly rent in the master lease agreement for the targeted portion in the fixed-rent-type master lease agreement is indicated when a master lease agreement has been concluded for the Acquired Assets.

・ “Security and guarantee deposits” indicates the total amount of security and guarantee deposits (including the amount expected to be received based on each lease agreement) based on the lease agreement of each Acquired Asset as of October 31, 2018 (or as of the point of time noted separately if any), rounded to the nearest million yen.

・ “Leased area” indicates the total leased area shown in the lease agreement of each Acquired Asset as of October 31, 2018 (or as of the point of time noted separately if any). Moreover, the total area for which a lease agreement has actually been concluded with the end tenant is indicated for the portion in the pass-through-type master lease agreement.

・ “Total leasable area” indicates the area which is believed to be leasable based on the lease agreement or drawing of buildings for each Acquired Asset as of October 31, 2018 (or as of the point of time noted separately if any).

・ “Occupancy rate” indicates the ratio of leased area to leasable area for each Acquired Asset as of October 31, 2018 (or as of the point of time noted separately if any), rounded to the first decimal place.

・ “Special remarks” indicates matters recognized as important as of October 31, 2018 (or as of the point of time noted separately if any) in consideration of the relationship of rights, use, safety, etc. of each Acquired Asset as well as the impact on the appraisal value, profitability, and disposition.



4

A-1 Tokyo Sankei Building Property name Tokyo Sankei Building

Type of specified asset Real estate

Location 1-7-2 Otemachi, Chiyoda-ku, Tokyo

Acquisition date March 12, 2019

Acquisition price 2,509 million yen

Overview of trust beneficiary right

Trustee ―

Trust establishment date

―

Trust expiration date

―

Land

Site area 6,261.96 m2 (Note 1)

Use district Commercial district

Floor area ratio 1,300%

Building coverage ratio

80%

Type of ownership

Ownership (2% co-ownership interest), leasehold (2% quasi co-ownership interest) (Note 2)

Building

Structure and floors

Steel framed reinforced concrete, reinforced concrete, steel framed structure with flat roof/31 floors above ground and 4 below

Construction completion

September 28, 2000

Total floor area 82,494.98 m2

Use Office, assembly hall, retail, parking

Type of ownership

Ownership (2% co-ownership interest) (Note 2)

Property management company

The Sankei Building Co., Ltd.

Master lease company The Sankei Building Co., Ltd.

Master lease type Pass-through type

Appraisal value 2,540 million yen

Appraiser Japan Real Estate Institute

PML value 2.3%

PML value investigation company

Tokio Marine & Nichido Risk Consulting Co., Ltd.

Collateral None

Overview of leasing (Note 4)

Number of tenants 45

Total rental revenue 88 million yen

Security and guarantee deposits

84 million yen

Leased area 827.94 m2

Total leasable area 844.46 m2

Occupancy rate 98.0%

Special remarks

Part of the land (site) of the property is leased land. The said leasehold (2% quasi co-ownership interest) is owned by SANKEI REAL ESTATE and the remaining portion (98% quasi co-ownership interest) is owned by The Sankei Building Co., Ltd. Approval of the owner of the said leased land (Fuji Media Holdings, Inc.) is required upon the transfer of the leasehold associated with the transfer of the building. As for the property, SANKEI REAL ESTATE and The Sankei Building Co., Ltd. hold respective co-ownership interest of 2% and 98% in the land and



5

building. In addition, SANKEI REAL ESTATE and The Sankei Building Co., Ltd. also hold respective quasi co-ownership interest of 2% and 98% in the leasehold for the leased land, which is part of the land, and a co-ownership agreement has been concluded between SANKEI REAL ESTATE and The Sankei Building Co., Ltd. The following matters have been stipulated in the said agreement.

・Decision-making

In principle, decision-making on all matters concerning operation and management of the property (including leasehold. The same hereafter in the following special remarks) are based on the agreement of all co-owners, and co-owners shall discuss in good faith with each other by holding meetings to reach the said agreement smoothly. Co-owners shall abide by the decision made at the reasonable discretion of the majority of co-owners if an agreement cannot be reached among all co-owners after holding multiple meetings.

・Special agreement on indivisibility

Co-owners shall not request the division of the property for five years (to be automatically renewed)

・Preferential negotiation rights Co-owners shall designate other co-owners as parties to whom preferential negotiation rights are exercised in preference to third parties when transferring co-ownership interest in the property or quasi co-ownership interest in the leasehold to third parties.

・Approved matters

Co-owners shall not transfer, pledge, set collateral or dispose co-ownership interest in the property or quasi co-ownership interest in the leasehold against third parties without any written consent of all other co-owners.

(Note 1) 223.31 m2 of leased land is included.

(Note 2) SANKEI REAL ESTATE acquired 2% co-ownership interest in the ownership of the land, 2% quasi co-ownership interest in the

leasehold and 2% co-ownership interest in the ownership of the building.

(Note 3) As for part of the third floor of the building (protruding portion in phase II construction work), a vibration control oil damper

manufactured by KYB Corporation group has been installed after the completion of phase I construction work of the building.

It has been confirmed with Takenaka Corporation (designer, structural designer, and constructor of the building) that there

will be no impact on the building even if failure occurs in the future as the safety of the structure of the building is

independent of the performance of such oil damper.

(Note 4) In the overview of leasing, figures equivalent to 2% co-ownership interest are indicated for total rental revenue, security and

guarantee deposits, leased area, total leasable area and occupancy rate.



6

A-2 BREEZÉ TOWER Property name BREEZÉ TOWER

Type of specified asset Real estate trust beneficial interest

Location 2-4-9 Umeda, Kita-ku, Osaka-shi, Osaka




Trustee Mizuho Trust & Banking Co., Ltd.


March 12, 2019


March 31, 2029

Land

Site area 4,676.08 m2 (Note 1)


Floor area ratio 800%


80%

Type of ownership

Ownership, leasehold, mutual use rights (all being rights to use the site) (30% quasi co-ownership interest) (Note 2) (Note 3) (Note 4)

Building


Steel framed, steel framed reinforced concrete structure with flat roof/37 floors above ground and 3 below


July 1, 2008

Total floor area 82,718.17 m2 (Note 5)

Use Office, retail, theater

Type of ownership

Sectional ownership of office portion (30% quasi co-ownership interest) (Note 3)







PML value 2.8%



Collateral None





472 million yen

Leased area 8,097.34 m2

Total leasable area 8,097.34 m2


Special remarks

Part of the land (site) of the property is leased land. Approval of the owner of the said leased land (Sankei Shimbun Co., Ltd.) is required upon the transfer of the leasehold associated with the transfer of the building. Part of the exclusively owned portion of the building under compartmentalized ownership is co-owned by the trustee and a third party, and the following matters concerning the relationship on co-ownership of the said exclusively owned portion between the trustee and the said third



7

party has been stipulated in the lease agreement concluded among the trustee, third party and The Sankei Building Co., Ltd.

・Decision-making

Matters concerning operation and management of the said exclusively owned portion shall be decided by an agreement between the trustee and the said third party, and the trustee and the said third party shall discuss in good faith with each other to reach the said agreement smoothly.

The land (site) of the property is composed of i. the land co-owned by The Sankei Building Co., Ltd. and the trustee, ii. the land leased by Sankei Shimbun Co., Ltd., and, iii. the land owned or leased by the third party which is the said co-owner (mutual use rights). Therefore, mutual use rights have been set for the site of the property among The Sankei Building Co., Ltd., which holds sectional ownership in the building, the trustee, and the third party which is the said co-owner. A quasi co-ownership agreement has been concluded between The Sankei Building Co., Ltd. (70% quasi co-ownership interest), which is the quasi co-owner of the trust beneficiary rights in the sectional ownership of the building, and SANKEI REAL ESTATE (30% quasi co-ownership interest). The following matters have been stipulated in the quasi co-ownership agreement.

・Decision-making

In principle, actions of beneficiaries are decided by reaching an agreement with all quasi co-owners. However, quasi co-owners shall abide by the decision made by the majority of quasi co-owners except for certain matters if an agreement cannot be reached among all quasi co-owners.

・Special agreement on indivisibility Quasi co-owners shall not request the division of the trust beneficiary rights for five years (to be automatically renewed)

・Preferential negotiation rights

Quasi co-owners shall discuss the conditions of sale and purchase with other quasi co-owners in preference to third parties when selling quasi co-ownership interest.

・Approved matters

Advance approval in written form by other quasi co-owners is required when quasi co-owners set collateral or implement disposal other than the transfer of the quasi co-ownership interest.

As of January 31, 2018, confirmation of the boundary between the property and the adjacent land on the north side of the property as well as the conclusion of memorandum, etc. pertaining to it are partially uncompleted.

(Note 1) i. 74.30 m2 of land leased by Sankei Shimbun Co., Ltd. and ii. 339.89 m2 of land (portion subject to mutual use) owned or

leased by third parties which are other co-owners of part of the exclusively owned portion of the building under

compartmentalized ownership co-owned by the trustee are included.

(Note 2) The land of the property is the site of the building under compartmentalized ownership and the percentage of the quasi

co-ownership interest in the right to use the site which will be acquired by the trustee is 54.30%.



8

(Note 3) The trust assets constituting the trust for the trust beneficiary right acquired by SANKEI REAL ESTATE are i. 58.33%

co-ownership interest in the land co-owned with The Sankei Building Co., Ltd., ii. 58.33% quasi co-ownership interest in the

leasehold of the leased land, iii. 58.33% quasi co-ownership interest in the mutual use rights for the portion subject to mutual

use and, iv. sectional ownership of the office portion (38.56% co-ownership interest in the sectional ownership is indicated for

the exclusively owned portion of Building 27-6 as it is co-owned with a third party). SANKEI REAL ESTATE has acquired 30%

quasi co-ownership interest in the said trust beneficiary right.

(Note 4) The trustee uses the underground portion of the land owned by Osaka City adjacent to the site as an underground connecting

passage based on the permission for exclusive possession obtained from Osaka City.

(Note 5) The area of the exclusively owned portion for the sectional ownership of the office portion owned by the trustee is 35,464.91

m2 (the floor area of the exclusively owned portion of Building 27-6 which is co-owned with the trustee and the third party is

calculated by taking into consideration the co-ownership interest), the area of the exclusively owned portion for the sectional

ownership of the building and office portion owned by a third party is 4,504.20 m2 (the floor area of the exclusively owned

portion of Building 27-6 which is co-owned with the trustee and third party is calculated by taking into consideration the

co-ownership interest), and the total area of the portion co-owned among the owners of sectional ownership is 17,410.39 m2

(common area portion and attached facility. The floor area of the exclusively owned portion of Building 27-6 which is

co-owned with the trustee and the third party is not included). Moreover, the area of the exclusively owned portion for the

sectional ownership of the portion other than the office portion is 25,338.67 m2 and is owned by The Sankei Building Co., Ltd.

(Note 6) In the overview of leasing, figures equivalent to 30% of the area and amount for the office portion constituting the trust

beneficiary rights are indicated for total rental revenue, security and guarantee deposits, leased area, total leasable area and

occupancy rate.



9

A-3 S-GATE NIHONBASHI-HONCHO Property name S-GATE NIHONBASHI-HONCHO


Location 1-9-1 Nihonbashi-Honcho, Chuo-ku, Tokyo






March 12, 2019


March 31, 2029

Land

Site area 954.21 m2




80%

Type of ownership


Building


Steel framed structure with flat roof/11 floors above ground


October 31, 2018


Use Office, parking

Type of ownership








PML value 2.0%



Collateral None


Number of tenants 3



307 million yen




Special remarks

The property is co-owned with a third party and a co-ownership agreement has been concluded between the said third party (49% co-ownership interest) and Mizuho Trust & Banking Co., Ltd., the trustee. The following matters have been stipulated in the co-ownership agreement.

・Decision-making

If an agreement cannot be reached among co-owners, the percentage of co-ownership interest in the property will be totalized for each option given by co-owners and the option with the largest percentage shall be



10

regarded as the intention of all co-owners.

・Approved matters

Approval of the third party, a co-owner of the property, is required for the transfer of co-ownership interest (excluding transfer to SANKEI REAL ESTATE).

・Preferential negotiation rights

When either co-owner intends to transfer their co-ownership interest in the property to a third party, the other co-owner shall be designated as the party to whom preferential negotiation rights are exercised in preference to third parties.

・Special agreement on indivisibility

The co-owners shall not request the division of the property for five years (to be automatically renewed)

In addition to the above, it has been agreed between the said third party and SANKEI REAL ESTATE that approval of the said third party will be required for the transfer of trust beneficiary rights by SANKEI REAL ESTATE.

(Note 1) SANKEI REAL ESTATE acquired trust beneficiary rights with 51% co-ownership interest in the land and 51% co-ownership

interest in the building as trust assets.

(Note 2) The overview of leasing as of November 1, 2018 is indicated. In the overview of leasing, figures equivalent to 51%

co-ownership interest are indicated for total rental revenue, security and guarantee deposits, leased area, total leasable area

and occupancy rate.



11

A-4 S-GATE AKIHABARA Property name S-GATE AKIHABARA


Location 2-4-6 Higashi-Kanda, Chiyoda-ku, Tokyo






March 12, 2019


March 31, 2029

Land

Site area 366.30 m2




80%

Type of ownership

Ownership

Building




September 29, 2017


Use Office

Type of ownership

Ownership







PML value 2.2%



Collateral None

Overview of leasing

Number of tenants 5



111 million yen




Special remarks Not applicable



12

A-5 Hibiya Sankei Building Property name Hibiya Sankei Building


Location 1-9-1 Yurakucho, Chiyoda-ku, Tokyo




Trustee Mitsubishi UFJ Trust and Banking Corporation


March 12, 2019


March 31, 2029

Land

Site area 562.07 m2


Floor area ratio 1,300%


80%

Type of ownership

Ownership

Building


Steel framed structure with flat roof/12 floors above ground and 2 below


June 25, 1992


Use Office, retail

Type of ownership

Ownership







PML value 3.1%



Collateral None

Overview of leasing




324 million yen







13

A-6 Hatchobori Sankei Building Property name Hatchobori Sankei Building


Location 2-7-1 Hatchobori, Chuo-ku, Tokyo




Trustee Mitsubishi UFJ Trust and Banking Corporation


September 26, 2000


March 31, 2029

Land

Site area 974.32 m2


Floor area ratio 600% (Note)


80%

Type of ownership

Ownership

Building


Steel framed reinforced concrete structure with flat roof/9 floors above ground and 2 below


September 1, 1965


Use Office, retail, garage

Type of ownership

Ownership






Appraiser The Tanizawa Sōgō Appraisal Co., Ltd.

PML value 0.3%



Collateral None

Overview of leasing




252 million yen





(Note) The building of the property was duly constructed with a floor-area ratio of 894% in accordance with the construction-related

regulations at that time. However, the designated floor-area ratio became 600% with the amendment of the

construction-related regulations and the building is currently an existing non-conforming building.



14

A-7 Toyo Park Building Property name Toyo Park Building


Location 5-29-17 Toyo, Koto-ku, Tokyo




Trustee Sumitomo Mitsui Trust Bank, Limited


March 1, 2017


March 31, 2029

Land

Site area 1,723.02 m2

Use district Semi-industrial district



60%

Type of ownership

Ownership

Building


Steel framed reinforced concrete structure with flat roof/6 floors above ground


June 18, 1991


Use Office

Type of ownership

Ownership


CBRE K.K.

Master lease company －

Master lease type －



PML value 9.0%



Collateral None

Overview of leasing

Number of tenants 4



163 million yen







15

B-1 Hotel Intergate Tokyo Kyobashi Property name Hotel Intergate Tokyo Kyobashi


Location 3-7-8 Kyobashi, Chuo-ku, Tokyo






March 12, 2019


March 31, 2029

Land

Site area 489.65 m2




80%

Type of ownership

Ownership

Building




January 18, 2018


Use Hotel, retail, parking

Type of ownership

Ownership

Property management company The Sankei Building Management Co., Ltd.

Master lease company SANKEI REAL ESTATE



Appraiser Daiwa Real Estate Appraisal Co., Ltd.

PML value 1.8%



Collateral None

Overview of leasing

Number of tenants 1



206 million yen




Overview of lease agreement

Type of agreement: Fixed-term building lease agreement Period of agreement: 20 years (from February 1, 2018 to January 31, 2038) Rent revision: Rent will not be revised and Article 32 of the Act on Land and Building Leases will not be applied. However, when there are significant changes in economic circumstances (hyperinflation, world crisis etc.) or other significant reasons, the lessor and lessee may revise the rent upon consultation. In addition, if operation is suspended due to inevitable reasons such as natural disaster, terrorism and war, the lessor and lessee may revise the rent during the period of suspension of operation upon



16

consultation. Renewal of agreement: Not applicable as the agreement is a fixed-term building lease agreement. Mid-term cancellation: The lessor and lessee cannot cancel the lease agreement until the termination of the agreement due to the expiration of lease period. However, the lessor and lessee can cancel the agreement by paying the amount equivalent to the rent from the cancellation date to the expiration date of the lease agreement or the amount equivalent to two years’ rent, whichever is higher.


3. Overview of Seller

(A-1 Tokyo Sankei Building, A-2 BREEZÉ TOWER, A-3 S-GATE NIHONBASHI-HONCHO, A-4 S-GATE AKIHABARA, A-5 Hibiya Sankei Building, A-6 Hatchobori Sankei Building, B-1 Hotel Intergate Tokyo Kyobashi)

(1) Name The Sankei Building Co., Ltd.

(2) Location 1-7-2 Otemachi, Chiyoda-ku, Tokyo

(3) Post and name of representative

President & CEO Kazunobu Iijima

(4) Line of business Development, acquisition, sales, leasing, sale in lots and management of real estate (office, residence, hotel, etc.)

(5) Capital 28,120 million yen (as of March 31, 2018)

(6) Date of establishment June 11, 1951

(7) Net assets 97,363 million yen (as of March 31, 2018)

(8) Total assets 309,196 million yen (as of March 31, 2018)

(9) Major shareholders and shareholding ratio

Fuji Media Holdings Inc. 100%

(10) Relationship with SANKEI REAL ESTATE and the Asset Management Company

Capital relationship

The company owns 4.98% of the total number of investment units issued and outstanding of SANKEI REAL ESTATE as of the date of this document. It also owns 100% of the shares issued and outstanding of the Asset Management Company as of the date of this document.

Personnel relationship

Nine executives and employees of the Asset Management Company are loaned staff from the company.

Business relationship

The company has concluded a trademark license agreement, a property management business consignment agreement and a master lease agreement with SANKEI REAL ESTATE. It has also concluded a sponsor support agreement and a fixed-term building lease agreement with the Asset Management Company.

Status as related party

The company falls under the category of a related party of SANKEI REAL ESTATE and the Asset Management Company.

(A-7 Toyo Park Building)

(1) Name Godo Kaisha SKB 1

(2) Location 1-4-1 Nihonbashi, Chuo-ku, Tokyo

(3) Post and name of representative

Representative partner: General Incorporated Association SKB 1 Executor of duties: Takanori Mishina

(4) Line of business

1. Acquisition, holding and disposal of trust beneficiary rights in real estate 2. Sale and purchase, leasing, management, acquisition, holding, disposal

and use of real estate 3. All other businesses incidental or pertaining to the above

(5) Capital 100,000 yen

(6) Date of establishment May 24, 2018

(7) Net assets Not disclosed as consent for the disclosure of net assets has not been



17

obtained from the seller.

(8) Total assets Not disclosed as consent for the disclosure of total assets has not been obtained from the seller.

(9) Major employees and shareholding ratio

General Incorporated Association SKB 1 100%

(10) Relationship with SANKEI REAL ESTATE and the Asset Management Company

Capital relationship

The company is a special purpose company invested in by The Sankei Building Co., Ltd., the parent company of the Asset Management Company, and The Sankei Building Co., Ltd. owns 4.98% of the total number of investment units issued and outstanding of SANKEI REAL ESTATE as of the date of this document.

Personnel relationship

There are no personnel relationships to be stated between the company and SANKEI REAL ESTATE or the Asset Management Company.

Business relationship

There are no business relationships to be stated between the company and SANKEI REAL ESTATE or the Asset Management Company.

Status as related party

The company falls under the category of a related party of SANKEI REAL ESTATE and the Asset Management Company.

4. Transaction with Interested Parties, etc.

The Sankei Building Co., Ltd. and Godo Kaisha SKB 1, the sellers of the Acquired Assets, fall under the category of an interested party, etc. stipulated in Article 201 of the Act on Investment Trusts and Investment Corporations (Act No. 198 of 1951, as amended) (the “Investment Trust Act”) and Article 123 of the Order for Enforcement of the Act on Investment Trusts and Investment Corporations (Act No. 480 of 2000, as amended) (the “Order for Enforcement of the Investment Trust Act”) as well as under the category of an interested party defined in the Asset Management Company’s rules on transactions with interested parties. Therefore, upon the conclusion of the sales and purchase agreement, the Asset Management Company has completed necessary procedures such as deliberation and resolution in accordance with the rules on transactions with interested parties, which is a voluntary rule for preventing conflict of interests in transactions with interest parties.

5. Status of Sellers

Property acquisitions from parties having special interest are as follows. The following table shows i. the name of the company, ii. relationship with parties having special interest and, iii. background, reasons, etc. of acquisition.

Property name

(Location)

Previous owner/ holder of trust beneficiary right

Second previous owner/ holder of trust beneficiary right

Third previous owner/ holder of trust beneficiary right

i., ii., iii. i., ii., iii. i., ii., iii.

Acquisition (transfer) price Acquisition (transfer) price Acquisition (transfer) price

Acquisition (transfer) period Acquisition (transfer) period Acquisition (transfer) period

Tokyo Sankei Building (1-7-2 Otemachi, Chiyoda-ku, Tokyo)

i. The Sankei Building Co., Ltd. ii. Parent company of the

Asset Management Company

iii. Acquired for development purposes

i. Sankei Shimbun Co., Ltd. ii. Parent company of The

Sankei Building Co., Ltd., the parent company of the Asset Management Company, at that time


Other than a party having special interest

Omitted as the property was owned for more than a year


―

Land: February 1955, October 1958

Building: September 2000 (completion)

Land: January 1955 Building: March 1955

(completion)

―



18

Property name

(Location)

Previous owner/ holder of trust beneficiary right

Second previous owner/ holder of trust beneficiary right


BREEZÉ TOWER (2-4-9 Umeda, Kita-ku, Osaka-shi, Osaka)




i. (A) Osaka Shimbun (B) Sankei Shimbun Co., Ltd. (C) Individual

ii. (A) Parent company of The Sankei Building Co., Ltd., the parent company of the Asset Management Company, at that time (currently integrated with Sankei Shimbun Co., Ltd.) (B) Parent company of The Sankei Building Co., Ltd., the parent company of the Asset Management Company (C) Other than a party having special interest





―

Land: July 1952, January 1954 Building: October 2008 (completion)

Land: July 1949, June 1951 Building: July 1952 (completion)

―



19

Property name (Location)

Previous owner/holder of trust beneficiary right

Second previous owner/holder of trust

beneficiary right


i., ii., iii. i., ii., iii. i., ii., iii.

Acquisition (transfer) price Acquisition (transfer) price Acquisition (transfer) price

Acquisition (transfer) period



S-GATE NIHONBASHI-HONCHO (1-9-1 Nihonbashi-Honcho, Chuo-ku, Tokyo)





―


― ―

Land: October 2015 Building: October 2018

(completion) ― ―

S-GATE AKIHABARA (2-4-6 Higashi-Kanda, Chiyoda-ku, Tokyo)





―


― ―

Land: December 2015 Building: September 2017


Hibiya Sankei Building (1-9-1 Yurakucho, Chiyoda-ku, Tokyo)



iii. Acquired for investment and management purposes


―


― ―

November 2005 ― ―

Hatchobori Sankei Building (2-7-1 Hatchobori, Chuo-ku, Tokyo)





―


― ―

March 2016 ― ―

Toyo Park Building (5-29-17 Toyo, Koto-ku, Tokyo)

i. Godo Kaisha SKB 1 ii. Special purpose company

invested in by The Sankei Building Co., Ltd., the


―



20

Property name (Location)

Previous owner/holder of trust beneficiary right

Second previous owner/holder of trust

beneficiary right


parent company of the Asset Management Company


3,650 million yen ― ―

September 2018 ― ―

Hotel Intergate Tokyo Kyobashi (3-7-8 Kyobashi, Chuo-ku, Tokyo)





―


― ―

Land: June 2015 Building: January 2018


6. Overview of Brokerage

(1) Overview of Broker The broker in the acquisition of Toyo Park Building is The Sankei Building Co., Ltd. For the overview of The Sankei Building Co., Ltd., please refer to the column of “The Sankei Building Co., Ltd.” in “3. Overview of the Seller.” The Sankei Building Co., Ltd. falls under the category of an interested party, etc. stipulated in Article 201 of the Investment Trust Act and Article 123 of the Order for Enforcement of the Investment Trust Act as well as under the category of an interested party defined in the Asset Management Company’s rules on transactions with interested parties. Therefore, upon the conclusion of the sales and purchase agreement, the Asset Management Company has completed necessary procedures such as deliberation and resolution in accordance with the rules on transactions with interested parties, which is a voluntary rule for preventing conflict of interests in transactions with interest parties.

(2) Breakdown and Amount of Brokerage Fee, etc.

The brokerage fee for the above broker is 76 million yen (excluding consumption tax, etc. and rounded down to the nearest million yen).

There are no applicable matters for the Acquired Assets other than “Toyo Park Building.”



21

7. Schedule of Acquisition

Date of determination of acquisition January 22, 2019

Date of conclusion of purchase agreement

January 23, 2019

Payment date March 12, 2019

Date of delivery of properties March 12, 2019

8. Future Outlook

For the operating forecasts for the fiscal period ending August 2019 (from November 19, 2018 to August 31, 2019), fiscal period ending February 2020 (from September 1, 2019 to February 29, 2020), fiscal period ending August 2020 (from March 1, 2020 to August 31, 2020) and fiscal period ending February 2021 (from September 1, 2020 to February 28, 2021), please refer to “Notice Concerning Operating Forecasts for the Fiscal Period Ending August 2019, Fiscal Period Ending February 2020, Fiscal Period Ending August 2020 and Fiscal Period Ending February 2021” announced today.



22

9. Overview of Appraisal Report

Overview of appraisal report

Property name Tokyo Sankei Building



Appraisal date October 31, 2018

Items Details Overview, etc.

Income approach value 2,540 million yen Assessed by applying the DCF method and direct capitalization method

Value based on direct capitalization method

2,580 million yen

i. Operating revenue 119 million yen

Effective gross income 124 million yen

Assessed by taking into consideration rental revenue, common area charges, etc. which are deemed stable over the long term

Loss from vacancy, etc. 4 million yen Assessed by taking into consideration vacancy rates which are deemed stable over the long term

ii. Operating expenses 49 million yen

Maintenance and operation cost

12 million yen Assessed by taking into consideration the level of expenses of similar properties based on the past actual results and conditions of the current agreement

Utilities expenses 6 million yen Assessed by taking into consideration occupancy rates, etc. based on the past actual results

Repair expenses 1 million yen Assessed by taking into consideration the engineering report and the level of expenses of similar properties

PM fee 2 million yen

Assessed by taking into consideration the level of expenses of similar properties based on the past actual results and conditions of the current agreement

Tenant soliciting fees, etc. 0 million yen Assessed by taking into consideration the assumed turnover period of lessees

Taxes and public dues 24 million yen Assessed by taking into consideration the past actual results and the level of similar properties

Non-life insurance premium

0 million yen Assessed by taking into consideration the level of expenses of similar properties

Other expenses 1 million yen Assessed by taking into consideration the level of expenses of similar properties

iii. Net operating income (NOI: i. - ii.)

69 million yen

iv. Income from deposits 0 million yen Assessed by assuming an investment yield of 1.0%.

v. Capital expenditure 3 million yen Assessed by taking into consideration the engineering report and the level of renewal fees of similar properties

Net cash flow (NCF: iii. + iv. - v.)

67 million yen

Capitalization rate 2.6% Assessed by taking into consideration the marketability of targeted properties, transaction yield of similar properties, etc.

Value based on discounted cash flow method

2,500 million yen

Discount rate 2.3%

Assessed by taking into consideration the competitiveness, etc. of targeted properties

Terminal capitalization rate 2.7% Assessed by taking into consideration the risk on aging, market condition, etc.

Integrated value based on cost method 2,690 million yen

Ratio of land 94.4%

Ratio of building 5.6%

Other matters which the appraiser has paid attention to in the appraisal

－

(Note) All of the above amounts are the figures equivalent to 2% co-ownership interest.



23


Property name BREEZÉ TOWER







9,360 million yen


















404 million yen




365 million yen



9,240 million yen

Discount rate 3.5%



Integrated value based on cost method

8,640 million yen

Ratio of land 71.7%



－

(Note) All of the above amounts are the figures equivalent to 30% quasi co-ownership interest in sectional ownership of the office portion.



24


Property name S-GATE NIHONBASHI-HONCHO







6,840 million yen


















253 million yen




252 million yen



6,720 million yen

Discount rate 3.2%




6,500 million yen

Ratio of land 78.4%



－

(Note) All of the above amounts are the figures equivalent to 51% co-ownership interest.



25


Property name S-GATE AKIHABARA







2,110 million yen


















80 million yen




80 million yen



2,040 million yen

Discount rate 3.6%




1,990 million yen

Ratio of land 71.2%



－



26


Property name Hibiya Sankei Building







6,020 million yen


















216 million yen




198 million yen



5,780 million yen

Discount rate 3.1%




6,750 million yen

Ratio of land 97.0%



－



27


Property name Hatchobori Sankei Building

Appraiser The Tanizawa Sōgō Appraisal Co., Ltd.






5,080 million yen


















234 million yen




213 million yen



4,990 million yen

Discount rate 4.3%




5,130 million yen

Ratio of land 91.4%

Ratio of building 8.6&


－



28


Property name Toyo Park Building







3,860 million yen


















168 million yen




162 million yen



3,710 million yen

Discount rate 4.0%




2,670 million yen

Ratio of land 86.8%



－



29


Property name Hotel Intergate Tokyo Kyobashi

Appraiser Daiwa Real Estate Appraisal Co., Ltd.






9,220 million yen


















353 million yen




350 million yen



9,000 million yen

Discount rate 3.6%




9,220 million yen

Ratio of land 78.1%



－



30

* This document is distributed to the Kabuto Club (the press club of the Tokyo Stock Exchange), the press club of the Ministry of Land, Infrastructure, Transport and Tourism, and the press club for construction trade publications of the Ministry of Land, Infrastructure, Transport and Tourism

* SANKEI REAL ESTATE Inc. website: https://www.s-reit.co.jp/en/ <Attachment> Reference Material 1 Portfolio List Reference Material 2 Characteristics of Acquired Assets

https://www.s-reit.co.jp/en/



31

<Attachment> Reference Material 1 Portfolio List

Area Category Property number

Property name Location

Acquisition price (Note 1)

Appraisal value (millions of

yen) (Note 2)

Acquisition date

(Note 3) Price

(millions of yen)

Investment ratio (%)

Greater Tokyo, Osaka City,

Nagoya City

Office buildings

A-1 Tokyo Sankei Building

(Note 4) Chiyoda-ku, Tokyo 2,509 5.8 2,540

March 12,

2019

A-2 BREEZÉ TOWER

(Note 4)

Kita-ku,

Osaka-shi, Osaka 8,600 19.8 9,300

March 12,

2019

A-3

S-GATE

NIHONBASHI-HONCHO

(Note 4)

Chuo-ku, Tokyo 6,698 15.4 6,780 March 12,

2019

A-4 S-GATE AKIHABARA Chiyoda-ku, Tokyo 2,055 4.7 2,080 March 12,

2019

A-5 Hibiya Sankei Building Chiyoda-ku, Tokyo 5,829 13.4 5,900 March 12,

2019

A-6 Hatchobori Sankei

Building Chuo-ku, Tokyo 4,959 11.4 5,020

March 12,

2019

A-7 Toyo Park Building Koto-ku, Tokyo 3,782 8.7 3,790 March 12,

2019

Subtotal (average) - 34,434 79.4 35,410 -

Sub assets B-1 Hotel Intergate Tokyo

Kyobashi Chuo-ku, Tokyo 8,961 20.6 9,070

March 12,

2019

Subtotal (average) - 8,961 20.6 9,070 -

Total (average) - 43,395 100.0 44,480 -

(Note 1) “Acquisition price” is the sale and purchase price of real estate and each trust beneficiary right stated in each sale and purchase

agreement for the Acquired Assets, rounded down to the nearest million yen. The sale and purchase prices do not include

consumption tax, local consumption tax and the various expenses required for the acquisition. “Investment ratio” is the proportion of

the acquisition price of each acquired asset to the sum total amount of acquisition prices, rounded to one decimal place.

(Note 2) “Appraisal value” is the appraisal value as of October 31, 2018 stated in each real estate appraisal report. The appraisal of the Acquired

Assets is entrusted to Japan Real Estate Institute, The Tanizawa Sōgō Appraisal Co., Ltd. and Daiwa Real Estate Appraisal Co., Ltd.

(Note 3) “Acquisition date” indicates the acquisition date stated in each sale and purchase agreement of the Acquired Assets.

(Note 4) The acquisition price and appraisal value of “Tokyo Sankei Building” and “S-GATE NIHONBASHI-HONCHO” are the figures equivalent

to the co-ownership interests in each property acquired by SANKEI REAL ESTATE (2% and 51%, respectively) (*1). The acquisition

price and appraisal value of “BREEZÉ TOWER” is the figure equivalent to the quasi co-ownership interest in sectional ownership of

the office portion acquired by SANKEI REAL ESTATE (30%) (*2).

(*1) As for “Tokyo Sankei Building,” SANKEI REAL ESTATE acquired 2% co-ownership interest in the ownership of the site, 2%

quasi co-ownership interest in the leasehold and 2% co-ownership interest in the ownership of the building. As for

“S-GATE NIHONBASHI-HONCHO,” it acquired trust beneficiary rights with 51% co-ownership interest in the ownership

of the site and building as trust assets. “Co-ownership interest in each property (2% and 51%, respectively)” is used as

such meaning. For details, please refer to the individual asset table of “Tokyo Sankei Building” and “S-GATE

NIHONBASHI-HONCHO” in “2. Overview of Individual Properties of the Acquired Assets” below.

(*2) As for “BREEZÉ TOWER,” SANKEI REAL ESTATE acquired 30% quasi co-ownership interest in trust beneficiary rights with

sectional ownership of the office portion and use rights of the site (ownership of the site, leasehold and mutual use

rights) as trust assets. “Quasi co-ownership interest in sectional ownership (30%)” is used as such meaning. For details,

please refer to the individual asset table of “BREEZÉ TOWER” in “2. Overview of Individual Properties of the Acquired

Assets” below.



32

Reference Material 2 Characteristics of Acquired Assets (Property Number A-1) Tokyo Sankei Building (1) Characteristics of the Property ・Otemachi Station where 5 subway lines are available is a core business base in Japan where financial

institutions as well as the headquarters and business facilities of companies representing Japan concentrate, and Tokyo Sankei Building boasts excellent traffic and proximity conditions as a prime location directly connected to the station.

・It is a super high-rise building with a high level of safety implementing BCP (business continuity planning) measures and having a 24-hour security system, emergency power generation facilities and earthquake resistance performance which is 1.5 times above the new earthquake resistance standards.

・The lower floor houses “Otemachi Sankei Plaza,” a rental hall and conference room with a maximum capacity of 600 people, and “Metro Square” with restaurants, medical and retail facilities as well as event spaces, is located underground. The property is an information transmission base in the Otemachi area where many people come and go.

(2) Map of surrounding area

(3) Photo of Acquired Asset



33

(Property Number A-2) BREEZÉ TOWER (1) Characteristics of the Property ・The property is located in the Umeda area, a business district representing Kansai, and is accessible via 5 stations

and 11 lines including Nishi-Umeda Station on the Osaka Metro Yotsubashi Line, the closest station, and JR Osaka Station. In addition, it is close to Shin-Osaka Station, the gateway to Osaka, as well as Itami Airport, and is a suitable location for business.

・Possesses energy-saving facilities such as rooftop greening, green wall (Note) and photovoltaic generation facilities as an environmentally conscious building developed based on the philosophy of “co-existence with the environment.”

・The property is an information transmission base having “Sankei Hall BREEZÉ” which inherits the DNA of “Sankei Hall,” a theater in Osaka which opened in 1952. (Note) “Green wall” refers to a surface of greened walls.

(2) Map of surrounding area (3) Photo of Acquired Asset



34

(Property Number A-3) S-GATE NIHONBASHI-HONCHO (1) Characteristics of the Property ・The property is located in the Nihonbashi area where long-established shops, department stores and

pharmaceutical companies have their stores and offices, and is also within walking distance from Mitsukoshimae Station on the Tokyo Metro Ginza Line and Hanzomon Line, which is the closest station, as well as Nihonbashi Station, Ningyocho Station and Shin-Nihonbashi Station, offering access to 4 stations and 6 lines.

・It is located at a corner lot facing Showa-dori Street with stately grid design (Note), boasting high visibility. ・“S-GATE” series are comfortable, safe, secure and environmentally conscious mid-sized office buildings

developed, operated and managed by The Sankei Building Co., Ltd., and unified in design, specifications (performance) and service level for enriched BCP measures and tenant services in intangible aspects.

・Rental rooms have a ceiling height of 2,800 mm and completely individual air conditioners, and there are toilets with powder space and a rooftop terrace, realizing a comfortable office environment. As for BCP measures, the property boasts the same level of specifications and facilities as that of Class A buildings through efforts such as equipping emergency power generators, adopting a different-source double-circuit power-receiving system and establishing disaster prevention stockpile warehouses on each floor except the 1st floor despite being is a mid-sized building. (Note) “Grid design” refers to grid-shaped design adopted at the exterior of the building. The same hereafter.





35

(Property Number A-4) S-GATE AKIHABARA (1) Characteristics of the Property ・Iwamotocho Station on the Toei Subway Shinjuku Line, the closest station, and Akihabara Station, the station

used for transfer to Iwamotocho Station, are terminal stations whose surrounding areas have developed as one of the largest electric towns in the world and where the JR Yamanote Line, JR Keihin-Tohoku Line, JR Sobu Line, Tokyo Metro Hibiya Line and Tsukuba Express Line are available. It is also within walking distance from Bakurocho Station and Asakusabashi Station, offering access to 4 stations and 8 lines, and is situated in a highly convenient location not only from major areas in central Tokyo but also from commuter towns.

・The Akihabara area, which as a transportation hub is a traditional business concentration area, has grown as a business district (office district) and a large number of companies centering on manufacturers have their headquarters there.

・”S-GATE” series are comfortable, safe, secured and environmentally conscious mid-sized office buildings developed, operated and managed by The Sankei Building Co., Ltd., and unified in design and specifications (performance) and service level for enriched BCP measures and tenant services in intangible aspects.

・The property features an appearance with a stately grid design, and the rental rooms have a ceiling height of 2,800 mm and completely individual air conditioners, realizing a comfortable office environment. As for BCP measures, it has high specifications among buildings with the same size through efforts such as equipping emergency power generators, adopting a different-source double-circuit power-receiving system and establishing disaster prevention stockpile warehouses on each floor. In addition, it has an appropriate level of competitiveness in comparison with alternative competitive real estate properties as it is installed with a triple security system that is unlikely to be seen at buildings with the same size.





36

(Property Number A-5) Hibiya Sankei Building (1) Characteristics of the Property ・The property is accessible via 3 stations and 7 lines including Hibiya Station, which is directly connected to the

property through an underground passage, and is also within walking distance from the areas of Tokyo, Yurakucho and Ginza.

・It is an office building overlooking the Imperial Palace and Hibiya Park, and has a stone-based appearance and a stately design with a strong sense of art. It also has high visibility as it is located at the Hibiya intersection where Hibiya-dori Street and Harumi-dori Street cross.

・It is in an excellent location that is expected to enjoy greater status as a business center due to active redevelopment.




37

(Property Number A-6) Hatchobori Sankei Building (1) Characteristics of the Property ・The property is in the Hatchobori area standing adjacent to the Yaesu area, a business district where companies

have traditionally concentrated and grown and where Tokyo Station can be found. ・It is approximately a 3-minute walk to the west from Hatchobori Station on the Tokyo Metro Hibiya Line and is

accessible via 4 stations and 5 lines including Takaracho Station on the Toei Asakusa Line and Kyobashi Station on the Tokyo Metro Ginza Line in addition to the closest station. It is also close to the entrance and exit of the Metropolitan Expressway and offers excellent traffic convenience.

・Although the building is approximately 53 years old, it underwent seismic base isolation work and large-scale renovation work. It has a regular-shaped site, a glass-walled appearance and a marble structure at the common area showing a certain grade.

・Raised floors have been adopted for the rental rooms and the property has mid-level competitiveness within the same demand and supply zone.




38

(Property Number A-7) Toyo Park Building (1) Characteristics of the Property ・The closest station is Toyocho Station on the Tokyo Metro Line and the property offers excellent access to

Otemachi Station and central Tokyo. ・The property is in the Toyocho area where many companies have their headquarters and large-scale office

buildings can be found in the neighborhood. ・Rental rooms have a ceiling height of 2,520 mm, individual air conditioners and 100 mm of raised floors

(excluding part of the 1st floor), generally meeting the recent needs of tenants, and the property has an appropriate level of competitiveness.




39

(Property Number B-1) Hotel Intergate Tokyo Kyobashi (1) Characteristics of the Property ・The property is located at the Yaesu exit of JR Tokyo Station and is accessible via 3 stations and 3 lines namely

the Tokyo Metro Ginza Line from Kyobashi Station, Tokyo Metro Yurakucho Line from Ginza Itchome Station and Toei Asakusa Line from Takaracho Station. In addition, it offers excellent access from Haneda Airport and Narita International Airport and high traffic convenience.

・The property is a value experience-type hotel with 200 guestrooms developed by The Sankei Building Co., Ltd. and operated and managed by GRANVISTA Hotels & Resorts Co., Ltd., a member of the Sankei Building Group.

・Offers excellent access to tourist spots in Tokyo such as Ginza and Asakusa, and is suitable for both business and tourism purposes.

・The property has single (approximately 13 m2), double (approximately 15 m2 to 19 m2) and twin (approximately 24 m2 to 28 m2) guestrooms, and a specification that sufficiently meets customer needs in an area where demand for both tourism and business can be expected.


For Immediate Release · building a strong portfolio that features both revenue stability and...

Documents

Transcript of For Immediate Release · building a strong portfolio that features both revenue stability and...