-Quarterly Report- Jan 2009
- Trends of investing units
- Trends of Japanese share prices
Easing monetary policies in Japan and the U.S. have led to a decline in interbank interest rates, etc. Analysts feel that this is helping the market to gradually lose the pressure to sell. However, worries about future rises in the yen due to the deterioration of the economy and fiscal situation in the U.S. are expected to limit the market from actively seeking higher gains. - Trends of J-REIT interest rates
News about new loans made available through government financial organizations to support the raising of JREIT funds led to a temporary increase. However, the changes were almost flat amidst worries about the deterioration of the actual economy and expectations of governmental policies.
- Appraisal Cap Rate during acquisition:4.9%(*1: 4.7%)
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Area Minato,Chuo,Chiyoda:4.6%(*1: 4.1%) Chiho:5.2%(*1: 5.0%)
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Asset type Office:4.7%(*1: 4.3%) Residential:5.2%(*1: 5.1%)
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Office Minato,Chuo,Chiyoda:4.5%(*1: 4.2%) Chiho:5.1%(*1: 4.5%)
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Residential Minato,Chuo,Chiyoda:No acquisition(*1: 4.5%) Chiho:5.2%(*1: 5.9%)
- NOI Cap Rate:5.3%(*1: 5.2%)
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Area Minato,Chuo,Chiyoda:4.7%(*1: 4.7%) Chiho:5.9%(*1: 5.8%)
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Asset type Office:5.2%(*1: 5.1%) Residential:5.3%(*1: 5.3%)
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Office Minato,Chuo,Chiyoda:4.6%(*1: 4.6%) Chiho:6.0%(*1: 5.9%)
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Residential Minato,Chuo,Chiyoda:4.8%(*1: 4.8%) Chiho:6.0%(*1: 5.8%)
- NOI Cap Rate(compared to previous settlement):5.3%(*2: 5.2%)
- Properties which have settled their latest accounts are selected and the value of the previous accounts are then compared.
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Area Minato,Chuo,Chiyoda:4.7%(*2: 4.6%) Chiho:5.9%(*2: 5.7%)
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Asset type Office:5.3%(*2: 5.2%) Residential:5.4%(*2: 5.2%)
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Office Minato,Chuo,Chiyoda:4.7%(*2: 4.7%) Chiho:6.2%(*2: 5.9%)
- Residential Minato,Chuo,Chiyoda:4.7%(*2: 4.7%) Chiho:5.9%(*2: 5.6%)
| Rental/Tsubo | Monthly 13,440 yen/Tsubo |
|---|---|
| Expense rate | 24.8% |
| End of period total value index | 2,555.24 Thousand yen/Tsubo |
| Occupancy rate | 95.4% |
|---|---|
| NOI Index | Annual 37,520 yen/m2 |
*1: Previous review period
*2: Previous settlement
Cap rate (month to month basis) Rise in Red, Flat in Orange, Down in Green.
Jan 2009 Quarterly report(31-Jan-o9)
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tlcjreits@tokyu-land.co.jp