Message from Executive Director
To Our Unitholders
We would like to express our sincere gratitude for your continued excellent support.
We are pleased to report on the management status of One REIT for the 9th fiscal period (fiscal period ended February 2018).
In the 9th fiscal period, One REIT transferred J Tower, which was a flagship property in its portfolio, on October 6, 2017, and acquired Daihakata Building, Daido Life Omiya Building and Yamagami Building on October 25. Furthermore, One REIT advanced negotiations for upward rent revisions in line with market trends while working to realize optimum property management costs, taking into account tenant needs and the characteristics of respective properties. As such, One REIT endeavored to maintain and improve the occupancy rate of the portfolio and enhance leasing business revenues.
As a result, One REIT’s assets at the end of the fiscal period ended February 2018 comprised a portfolio totaling 24 properties (total acquisition price: 80,815 million yen), a total leasable area of 136,351.64 m2 and the occupancy rate at the end of the fiscal period ended February 2018 was 99.2%. Concerning distributions, taking into consideration the generation of gain on sale of real estate, etc., One REIT decided to secure 100 million yen as internal reserves for the purpose of stabilizing dividends in the future. By distributing the entire amount gained after deducting the amount equivalent to internal reserves from unappropriated retained earnings at the end of the fiscal period ended February 2018, One REIT declared distribution per investment unit of 8,027 yen.
We will aim to maximize unitholder value by continuing to utilize sponsor support to the fullest extent and pursuing “continuous growth of distributions” and “disciplined external growth considering the portfolio and financial structure.”
We appreciate your continued support and patronage.