-Quarterly Report- Apr 2009
- Trends of investing units
- Trends of Japanese share prices
Although prices have dropped due to a pessimistic view of the rescue plan for the major U.S. car companies, they rebounded led by the weakening of overly strong anxieties and the expectations that both the domestic and foreign economies have hit bottom. - Trends of J-REIT interest rates
Cap rates decreased amidst an overall increase due to news of an assistance plan for REIT established by public and corporate investment funds.
- Appraisal Cap Rate during acquisition:5.2%(*1: 4.9%)
- Area Minato,Chuo,Chiyoda:4.5%(*1: 4.6%) Chiho:5.5%(*1: 5.2%)
- Asset type Office:5.1%(*1: 4.7%) Residential:5.3%(*1: 5.2%)
- Office Minato,Chuo,Chiyoda:5.0%(*1: 4.5%) Chiho:5.3%(*1: 5.1%)
- Residential Minato,Chuo,Chiyoda:No acquisition(No acquisition) Chiho:5.7%(*1: 5.2%)
- NOI Cap Rate:5.4%(*1: 5.3%)
- Area Minato,Chuo,Chiyoda:4.8%(*1: 4.7%) Chiho:6.1%(*1: 5.9%)
- Asset type Office:5.3%(*1: 5.2%) Residential:5.5%(*1: 5.4%)
- Office Minato,Chuo,Chiyoda:4.8%(*1: 4.6%) Chiho:6.2%(*1: 6.0%)
- Residential Minato,Chuo,Chiyoda:4.9%(*1: 4.8%) Chiho:6.1%(*1: 6.0%)
| Rental/Tsubo | Monthly 14,060 yen/Tsubo |
|---|---|
| Expense rate | 23.79% |
| End of period total value index | 2,616.60 Thousand yen/Tsubo |
| Occupancy rate | 95.56% |
|---|---|
| ＮＯＩ Index | Annual 39,740 yen/m2 |
- NOI Cap Rate(compared to previous settlement):5.5%(*2: 5.3%)
- Properties which have settled their latest accounts are selected and the value of the previous accounts are then compared.
- Area Minato,Chuo,Chiyoda:4.9%(*2: 4.7%) Chiho:6.4%(*2: 6.0%)
- Asset type Office:5.5%(*2: 5.2%) Residential:5.5%(*2: 5.2%)
- Office Minato,Chuo,Chiyoda:4.9%(*2: 4.7%) Chiho:6.5%(*2: 6.1%)
- Residential Minato,Chuo,Chiyoda:4.9%(*2: 4.7%) Chiho:6.5%(*2: 6.2%)
| Rental/Tsubo | Annual 15,210yen/Tsubo |
|---|---|
| Expense rate | 25.1% |
| End of period total value index | 2,721.99 Thousand yen/Tsubo |
| Occupancy rate | 95.7% |
|---|---|
| ＮＯＩ Index | Annual 42,290 yen/m2 |
*1: Previous review period
*2: Previous settlement
Cap rate (month to month basis) Rise in Red, Flat in Orange, Down in Green.
Apr 2009 Quarterly report(30-Apr-09)
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Tokyu Land Corporation
21-2 DOGENZAKA 1-CHOME,SHIBUYA-KU,TOKYO,150-0043 JAPAN
tlcjreits@tokyu-land.co.jp
21-2 DOGENZAKA 1-CHOME,SHIBUYA-KU,TOKYO,150-0043 JAPAN
tlcjreits@tokyu-land.co.jp