Basic Strategy of One REIT
Investment Target Area
One REIT will conduct investments by positioning the Tokyo metropolitan area and ordinance-designated cities or their equivalent as the investment target area. In either case, we aim to conduct investments focusing on location through careful selection of investment area by setting “core investment target areas” and sufficiently considering the convenience, etc. for tenants even in the evaluation of the location of individual properties.
Moreover, we select “core investment target areas” by focusing on “the degree of integration of population” which is considered as an important element to measure the adequacy of the location of office properties and using indicators such as the number of workers during daytime, population density of workers during daytime and the number of passengers at major railway stations in each administrative area as a reference.
(*) |
Tokyo metropolitan area refers to the prefectures of Tokyo, Kanagawa, Saitama and Chiba. |
(*) |
Ordinance-designated cities or their equivalent collectively refers to ordinance-designated cities (ordinance-designated cities located outside the Tokyo metropolitan area) and core regional cities that are the equivalent of ordinance-designated cities (non-ordinance-designated cities that are location to a prefectural government and located outside the Tokyo metropolitan area or their equivalent). |
Portfolio Building Policy
Investment Selection Criteria
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We focus on “whether the area is appropriate for the use” and “whether the location is valuable for tenants” as the two important points in real estate investment. |
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The former will be indicated as “investment target area” or “core investment target area” in the portfolio building policy and the selection criteria of the latter will be indicated in the “Selection criteria related to the location of investment properties.” |
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We will clarify the “locational conditions” of properties including not only administrative areas but also the location of the nearest station, the convenience of railway lines at the nearest station, the number of railway lines, accessibility from the nearest station, road connection, convenience of the road facing the location, and demand from tenants (substitutability) as complementary selective criteria. |
Traffic convenience
① |
Distance to the nearest station (within 10 minutes) |
② |
Multiple railway lines, simplicity of transfer, stations of express trains |
③ |
Access to the airport and stations of Shinkansen |
④ |
Access to areas where government offices and offices concentratea |
Tenant convenience
① |
Concentration area of companies and offices |
② |
Existence of particular demand (Company town, around government offices and courts, etc.) |
③ |
Enrichment of retail stores/restaurants/financial institutions, etc. |
④ |
Enriched refreshing space at parks, etc. in the neighboring area |