March 22, 2024
To all concerned parties:
Investment Corporation
Japan Metropolitan Fund Investment Corporation
(Tokyo Stock Exchange Company Code: 8953)
Representative: Masahiko Nishida, Executive Director
URL: https://www.jmf-reit.com/english/
Asset Management Company
KJR Management
Representative: | Naoki Suzuki, President & CEO |
Inquiries: | Keita Araki, Executive Officer & |
Head of Metropolitan Division | |
TEL: +81-3-5293-7081 |
Notice Concerning Acquisition of Asset in Japan (Silent partnership interests)
Japan Metropolitan Fund Investment Corporation ("JMF") announces today that KJR Management, JMF's asset manager (the "Asset Manager"), determined to acquire the asset in Japan (silent partnership interests) (the "Acquisition") as outlined below.
1. Overview of Acquisition
Type of asset to be acquired (Note 1) | Equity interests in silent partnership whose trust assets are trust | ||
beneficiary rights in real estate in Japan | |||
Asset name | Godo Kaisha Sapphire 1 and Godo Kaisha Sapphire 2 silent partnership | ||
interests | |||
ADVANCE Esaka Rasurer, ADVANCE Tennojiminami Pachira, ASTERI | |||
Tsurumai Ena, ASTERI Tsurumai Dio, ASTERI Tsurumai Tesera, ASTERI | |||
Underlying assets (Note 2) | Tsurumai Touria, ADVANCE Kyoto Detendu, ADVANCE Uemachidai Stadt, | ||
ADVANCE Kobe Grouv II, ADVANCE Nishiumeda Jace, ADVANCE | |||
Nishiumeda Bios, ADVANCE Osaka Valencia, ADVANCE Osakajokita Fierte | |||
Asset class | Residence | ||
Investment price (Planned) | Total 855 million yen (approximately 16.0% of total silent partnership | ||
interests) | |||
Contract completion date (Scheduled) | March 26, 2024 | ||
Equity interests acquisition date (Scheduled) | March 27, 2024 | ||
Investee | Godo Kaisha Sapphire 1 and Godo Kaisha Sapphire 2 | ||
Broker | None | ||
Acquisition funds | Cash on hand (Planned) | ||
(Note 1) The silent partnership interests fall under the category of real estate-related assets. Also, the ratio of real estate, etc. in the total assets of JMF will remain above 70% even after the Acquisition.
(Note 2) The details of underlying assets are set out in "3. Property Summary (2) Summary of underlying assets" as described below.
1
2. Reason for Acquisition
Highlights
Acquired equity interests in silent partnerships whose underlying assets are 13 prime rental residential properties and acquired dividend income of an expected dividend yield of 8.6% and future acquisition opportunities by acquiring the preferential negotiating rights.
As there have been constant changes to the operating environment surrounding real estate, such as widespread e-commerce and remote working due to the rapid advancement in information technologies, and the trend of mixed-use by area and by property, JMF aims to optimize its portfolio in response to such changes. To this end, JMF will continue to secure stable earnings on a medium to long term basis and ensure steady growth of operating assets by promoting carefully-screened investment in retail facilities, office buildings, residences, hotels, and mixed-use properties used for a combination of those purposes, located mainly in urban areas.
JMF acquires preferential negotiating rights (Note) for 13 properties by acquiring of the equity interests in the silent partnerships for SPCs that will acquire these 13 residential properties. As a result, JMF is considering the possibility of acquiring the properties in the future and assessing the timing of acquisition by cash on hand or other funds procurement, with an eye on the further improvement of profitability of each property during the period of management by the relevant SPC.
All of the 13 residential properties as underlying assets are newer than five years-built properties, and that are prime rental residential properties located in the inner city and highly convenient for transport and living. In the real estate trading market where acquisition of real estate remains challenging, acquisition of the future acquisition opportunities along with dividend income with an expected dividend yield of 8.6% are considered by JMF to contribute to the progress of asset replacement and improvement of the quality of the portfolio.
(Note) JMF will retain the preferential negotiating rights as of right but is not obliged to acquire the underlying assets.
(Continue to next page)
2
3. Property Summary
- Summary of silent partnership (Total of Godo Kaisha Sapphire 1 and 2)
Total silent partnership | 5,360 million yen | |||||
investment price | ||||||
Investment price | 855 million yen (approximately 16.0 % of total silent partnership interests) | |||||
Godo Kaisha Sapphire 1 and 2 | ||||||
Non-Recourse Loan (Senior) | ||||||
Trust beneficiary right in real | 16,802 million yen | |||||
Non-Recourse Loan (Mezzanine) | ||||||
Summary of silent | estate etc. (Note) | |||||
24,029 million yen | 1,867 million yen | |||||
partnership agreement | Silent Partnership Interests | |||||
5,360 million yen | ||||||
・Figures of less than one million yen are rounded down. | ||||||
(Note) The trust beneficiary right in real estate etc. includes expenses for acquiring | ||||||
underlying assets and expenses for forming silent partnerships, etc. In addition, the | ||||||
real estate appraisal by JLL Morii Valuation & Advisory K.K. amounts total 24,891 | ||||||
million yen. | ||||||
Operator Name | Godo Kaisha Sapphire 1 | |||||
Type of asset | Silent partnership interests | |||||
Effective date in silent | March 27, 2024 | |||||
partnerships | ||||||
Validity period in silent | March 31, 2027 | |||||
partnership agreement | ||||||
Total silent partnerships | 3,390 million yen | |||||
interests | ||||||
Investment price | 542 million yen | |||||
Godo Kaisha Sapphire 1 | ||||||
Non-Recourse Loan (Senior) | ||||||
Trust beneficiary right in real | 10,529 million yen | |||||
Non-Recourse Loan (Mezzanine) | ||||||
estate etc. (Note 1) | ||||||
15,089 million yen | 1,170 million yen | |||||
Silent Partnership Interests (Note 2) | ||||||
Summary of silent | 3,390 million yen | |||||
・Figures of less than one million yen are rounded down. | ||||||
partnership agreement | ||||||
(Note 1) The trust beneficiary right in real estate etc. includes expenses for acquiring | ||||||
underlying assets and expenses for forming silent partnerships, etc. In addition, | ||||||
the real estate appraisal by JLL Morii Valuation & Advisory K.K. amounts total | ||||||
15,598 million yen. | ||||||
(Note 2) With regard to the silent partnership interests, JMF plans to invest 542 million yen. | ||||||
Godo Kaisha Sapphire 1 plans to acquire trust beneficiary right in real estate with the | ||||||
funds procured through the non-recourse loan and silent partnership interests. The | ||||||
acquisition price of the relevant trust beneficiary right in real estate is less than the | ||||||
real estate appraisal value described in Note1. Therefore, JMF has determined that | ||||||
the investment amount is a reasonable amount. |
3
Operator Name | Godo Kaisha Sapphire 2 | |||||
Type of asset | Silent partnership interests | |||||
Effective date in silent | March 27, 2024 | |||||
partnerships | ||||||
Validity period in silent | March 31, 2027 | |||||
partnership agreement | ||||||
Total silent partnerships | 1,970 million yen | |||||
interests | ||||||
Investment price | 313 million yen | |||||
Godo Kaisha Sapphire 2 | ||||||
Non-Recourse Loan (Senior) | ||||||
Trust beneficiary right in real | 6,273 million yen | |||||
Non-Recourse Loan (Mezzanine) | ||||||
estate etc. (Note 1) | ||||||
8,940 million yen | 697 million yen | |||||
Silent Partnership Interests (Note 2) | ||||||
Summary of silent | 1,970 million yen | |||||
・Figures of less than one million yen are rounded down. | ||||||
partnership agreement | ||||||
(Note 1) The trust beneficiary right in real estate etc. includes expenses for acquiring | ||||||
underlying assets and expenses for forming silent partnerships, etc. In addition, | ||||||
the real estate appraisal by JLL Morii Valuation & Advisory K.K. amounts total 9,293 | ||||||
million yen. | ||||||
(Note 2) With regard to the silent partnership interests, JMF plans to invest 313 million yen. | ||||||
Godo Kaisha Sapphire 2 plans to acquire trust beneficiary right in real estate with the | ||||||
funds procured through the non-recourse loan and silent partnership interests. The | ||||||
acquisition price of the relevant trust beneficiary right in real estate is less than the | ||||||
real estate appraisal value described in Note1. Therefore, JMF has determined that | ||||||
the investment amount is a reasonable amount. |
(Common matters in Godo Kaisha Sapphire 1 and 2)
・Calculation period
Two six-month periods annually from January 1 to the end of June and from July 1 to the end of December. However, the initial calculation period shall be from March 26, 2024 to the end of June, 2024.
・Distribution of profits and losses | |
In the case where profits are generated in each calculation period, the | |
operator shall distribute them to investors by the investment ratios as | |
of the relevant calculation date. In the case where losses are incurred | |
in each calculation period, the operator shall distribute them to | |
investors by the investment ratios as of the relevant calculation date to | |
Summary of silent | |
partnership agreement | the extent of the relevant losses. However, if the cumulative losses |
distributed to investors exceed the total amount of the investments, the | |
excess amount shall be distributed to the operator up to an amount | |
equal to the total amount of the investments minus one yen. | |
・Transfer and refund of investments | |
The prior written consent of the operator is required in cases where | |
investors transfer their position under the silent partnership | |
agreement and their equity interests, etc. and obligations under the | |
silent partnership agreement. (However, the prior written consent of | |
the lender is required before borrowings are fully repaid.) In addition, |
4
the operator may, after obtaining the prior written consent of the | |
lender, refund all or part of investments to investors according to their | |
investment ratio. | |
・Period for exercising preferential negotiating rights | |
March 22, 2024 to March 31, 2027 | |
・Summary of rights | |
The rights to preferentially enter into purchasing negotiations for the | |
trust beneficiary rights in real estate acquired by Godo Kaisha | |
Sapphire 1 and 2. | |
Summary of preferential | ・Exercise prices |
negotiation rights | |
The exercise prices shall be amounts that meet all of the following | |
conditions. | |
(1) The amounts are sufficient to fully repay the seller's borrowings as | |
of the date of the sales. | |
(2) The amounts exceed the internal rate of return (IRR) targets for | |
each of the following periods . | |
December 1, 2025 - June 30, 2026 : 5.50% | |
July 1, 2026 - March 31, 2027 : 6.00% |
5
- Summary of underlying assets
- Summary of underlying assets in Godo Kaisha Sapphire 1
Property name | ADVANCE Esaka Rasurer | ||||||||||||
Location | 1-20, Esakacho 2-chome,Suita-shi, Osaka | ||||||||||||
Type of asset | Trust beneficiary right in real estate | ||||||||||||
Trustee | Mitsubishi UFJ Trust and Banking Corporation | ||||||||||||
Trust period | April 14, 2023- March 31, 2034 (Scheduled) | ||||||||||||
Land | |||||||||||||
Land area | 1,065.00 ㎡ | Zoning | Commercial districts | ||||||||||
FAR / building-to-land ratio | 600%/80% | Type of possession | Ownership | ||||||||||
Building | |||||||||||||
Structure / stories | 15 stories above ground, RC-structure with flat roof | ||||||||||||
Total floor area | 8,155.81 ㎡ | Type | Residence | ||||||||||
Completion date | March 7, 2023 | Type of possession | Ownership | ||||||||||
Design | AR Architecture Office K.K. | ||||||||||||
Construction | SUNADA CONSTRUCTION. INC | ||||||||||||
Constructional Inspector | KENCHIKUKENSAKIKO KK | ||||||||||||
PML | 5.7% (Based on the engineering report prepared by Japan Constructive | ||||||||||||
Inspect Association CO.,LTD) | |||||||||||||
Appraisal value | 6,000 million yen (as of February 1, 2024) | ||||||||||||
Appraiser | JLL Morii Valuation & Advisory K.K. | ||||||||||||
Tenant summary (as of February 29, 2024) | |||||||||||||
Number of tenants | 188 | ||||||||||||
Annual rent | 201 million yen | ||||||||||||
Tenant leasehold / security | 1 million yen | ||||||||||||
deposit | |||||||||||||
Total leased area | 4,951.05 ㎡ | Occupancy rate | 77.5% | ||||||||||
Total leasable area | 6,385.26 ㎡ | (based on leased area) | |||||||||||
Collateral conditions | A lender of a non-recourse loan to Godo Kaisha Sapphire 1, the operator, is to | ||||||||||||
take out a pledge as a pledgee. | |||||||||||||
Special notes | None | ||||||||||||
Property name | ADVANCE Tennojiminami Pachira | ||||||||||||
Location | 2-19, Bishoen 1-chome,Abeno-ku,Osaka-shi, Osaka | ||||||||||||
Type of asset | Trust beneficiary right in real estate | ||||||||||||
Trustee | Mizuho Trust & Banking Co., Ltd. | ||||||||||||
Trust period | May 31, 2022 - March 31, 2034 (Scheduled) | ||||||||||||
Land | |||||||||||||
Land area | 336.23 ㎡ | Zoning | Category 1 residential | ||||||||||
districts | |||||||||||||
FAR / building-to-land ratio | 300%/80% | Type of possession | Ownership | ||||||||||
Building | |||||||||||||
Structure / stories | 12 stories above ground, RC-structure with flat roof, 1 story above ground, | ||||||||||||
RC-structure with flat roof | |||||||||||||
Total floor area | 1,097.12 ㎡ | Type | Residence, Garbage | ||||||||||
storage | |||||||||||||
Completion date | March 4, 2022 | Type of possession | Ownership | ||||||||||
Design | Toki. Design Co., Ltd. | ||||||||||||
Construction | Japan Crest Co., Ltd. | ||||||||||||
Constructional Inspector | Nihon Kakunin Architectures Inspection Center Co.,Ltd | ||||||||||||
PML | 6.0% (Based on the engineering report prepared by Japan Constructive | ||||||||||||
Inspect Association CO.,LTD) | |||||||||||||
Appraisal value | 798 million yen (as of February 1, 2024) | ||||||||||||
Appraiser | JLL Morii Valuation & Advisory K.K. |
6
Tenant summary (as of February 29, 2024)
Number of tenants | 44 | ||||||||||||
Annual rent | 35 million yen | ||||||||||||
Tenant leasehold / security | 0 yen | ||||||||||||
deposit | |||||||||||||
Total leased area | 990.66 ㎡ | Occupancy rate | 100.0% | ||||||||||
Total leasable area | 990.66 ㎡ | (based on leased area) | |||||||||||
Collateral conditions | A lender of a non-recourse loan to Godo Kaisha Sapphire 1, the operator, is to | ||||||||||||
take out a pledge as a pledgee. | |||||||||||||
This land is within a well-known buried cultural property site under the | |||||||||||||
Special notes | Act on the | Protection of Cultural Properties. For that reason, any | |||||||||||
engineering work on the land requires at least 60 days' notice prior to the | |||||||||||||
start of such work. | |||||||||||||
Property name | ASTERI Tsurumai Ena | ||||||||||||
Location | 11-27, Chiyoda 5-chome,Naka-ku,Nagoya-shi, Aichi | ||||||||||||
Type of asset | Trust beneficiary right in real estate | ||||||||||||
Trustee | Mizuho Trust & Banking Co., Ltd. | ||||||||||||
Trust period | February 26, 2021 - March 31, 2034 (Scheduled) | ||||||||||||
Land | |||||||||||||
Land area | 649.05 ㎡ | Zoning | Commercial districts | ||||||||||
FAR / building-to-land ratio | 500%/80% | Type of possession | Ownership | ||||||||||
Building | |||||||||||||
Structure / stories | 13 stories above ground, RC-structure with flat roof | ||||||||||||
Total floor area | 3,369.09 ㎡ | Type | Residence | ||||||||||
Completion date | January 7, 2021 | Type of possession | Ownership | ||||||||||
Design | Tanaka Architect | ||||||||||||
Construction | FUKUDA CORPORATION | ||||||||||||
Constructional Inspector | CONFIRMATION INSPECTION TOKAI CO. | ||||||||||||
PML | 10.9% (Based on the engineering report prepared by Japan Constructive | ||||||||||||
Inspect Association CO.,LTD) | |||||||||||||
Appraisal value | 2,530 million yen (as of February 1, 2024) | ||||||||||||
Appraiser | JLL Morii Valuation & Advisory K.K. | ||||||||||||
Tenant summary (as of February 29, 2024) | |||||||||||||
Number of tenants | 121 | ||||||||||||
Annual rent | 110 million yen | ||||||||||||
Tenant leasehold / security | 5 million yen | ||||||||||||
deposit | |||||||||||||
Total leased area | 2,906.02 ㎡ | Occupancy rate | 92.0% | ||||||||||
Total leasable area | 3,157.92 ㎡ | (based on leased area) | |||||||||||
Collateral conditions | A lender of a non-recourse loan to Godo Kaisha Sapphire 1, the operator, is to | ||||||||||||
take out a pledge as a pledgee. | |||||||||||||
Special notes | None | ||||||||||||
Property name | ASTERI Tsurumai Dio | ||||||||||||
Location | 16-5, Chiyoda- 3-chome,Naka-ku,Nagoya-shi, Aichi | ||||||||||||
Type of asset | Trust beneficiary right in real estate | ||||||||||||
Trustee | Mizuho Trust & Banking Co., Ltd. | ||||||||||||
Trust period | June 30, 2021 - March 31, 2034 (Scheduled) | ||||||||||||
Land | |||||||||||||
Land area | 427.57 ㎡ | Zoning | Commercial districts | ||||||||||
FAR / building-to-land ratio | 500%/80% | Type of possession | Ownership | ||||||||||
Building | |||||||||||||
Structure / stories | 15 stories above ground, RC-structure with flat roof | ||||||||||||
Total floor area | 2,152.92 ㎡ | Type | Residence | ||||||||||
7 |
Completion date | April 21, 2021 | Type of possession | Ownership | ||||||||
Design | Tanaka Architect | ||||||||||
Construction | Magara Construction Co., Ltd. | ||||||||||
Constructional Inspector | CONFIRMATION INSPECTION TOKAI CO. | ||||||||||
PML | 10.1% (Based on the engineering report prepared by Japan Constructive | ||||||||||
Inspect Association CO.,LTD) | |||||||||||
Appraisal value | 1,580 million yen (as of February 1, 2024) | ||||||||||
Appraiser | JLL Morii Valuation & Advisory K.K. | ||||||||||
Tenant summary (as of February 29, 2024) | |||||||||||
Number of tenants | 77 | ||||||||||
Annual rent | 69 million yen | ||||||||||
Tenant leasehold / security | 3 million yen | ||||||||||
deposit | |||||||||||
Total leased area | 1,828.47 ㎡ | Occupancy rate | 92.3% | ||||||||
Total leasable area | 1,980.30 ㎡ | (based on leased area) | |||||||||
Collateral conditions | A lender of a non-recourse loan to Godo Kaisha Sapphire 1, the operator, is to | ||||||||||
take out a pledge as a pledgee. | |||||||||||
Special notes | None | ||||||||||
Property name | ASTERI Tsurumai Tesera | ||||||||||
Location | 15-24, Chiyoda 3-chome,Naka-ku,Nagoya-shi, Aichi | ||||||||||
Type of asset | Trust beneficiary right in real estate | ||||||||||
Trustee | Mizuho Trust & Banking Co., Ltd. | ||||||||||
Trust period | September 30, 2021 - March 31, 2034 (Scheduled) | ||||||||||
Land | |||||||||||
Land area | 657.31 ㎡ | Zoning | Commercial districts | ||||||||
FAR / building-to-land ratio | 500%/80% | Type of possession | Ownership | ||||||||
Building | |||||||||||
Structure / stories | 15 stories above ground, RC-structure with flat roof | ||||||||||
Total floor area | 4,081.28 ㎡ | Type | Residence | ||||||||
Completion date | July 28, 2021 | Type of possession | Ownership | ||||||||
Design | Tanaka Architect | ||||||||||
Construction | Magara Construction Co., Ltd. | ||||||||||
Constructional Inspector | CONFIRMATION INSPECTION TOKAI CO. | ||||||||||
PML | 10.0% (Based on the engineering report prepared by Japan Constructive | ||||||||||
Inspect Association CO.,LTD) | |||||||||||
Appraisal value | 2,550 million yen (as of February 1, 2024) | ||||||||||
Appraiser | JLL Morii Valuation & Advisory K.K. | ||||||||||
Tenant summary (as of February 29, 2024) | |||||||||||
Number of tenants | 130 | ||||||||||
Annual rent | 112 million yen | ||||||||||
Tenant leasehold / security | 3 million yen | ||||||||||
deposit | |||||||||||
Total leased area | 2,962.02 ㎡ | Occupancy rate | 93.3% | ||||||||
Total leasable area | 3,176.18 ㎡ | (based on leased area) | |||||||||
Collateral conditions | A lender of a non-recourse loan to Godo Kaisha Sapphire 1, the operator, is to | ||||||||||
take out a pledge as a pledgee. | |||||||||||
Special notes | None | ||||||||||
Property name | ASTERI Tsurumai Touria | ||||||||||
Location | 24-17, Chiyoda 3-chome,Naka-ku,Nagoya-shi, Aichi | ||||||||||
Type of asset | Trust beneficiary right in real estate | ||||||||||
Trustee | Mizuho Trust & Banking Co., Ltd. | ||||||||||
Trust period | June 30, 2021 - March 31, 2034 (Scheduled) |
8
Land
Land area | 585.57 ㎡ | Zoning | Commercial districts | |||||||||
FAR / building-to-land ratio | 500%/80% | Type of possession | Ownership | |||||||||
Building | ||||||||||||
Structure / stories | 15 stories above ground, RC-structure with flat roof | |||||||||||
Total floor area | 3,380.35 ㎡ | Type | Residence | |||||||||
Completion date | May 10, 2021 | Type of possession | Ownership | |||||||||
Design | TSUIKI IKKYUKENCHIKUSHIJIMUSHO, KK | |||||||||||
Construction | MURANAKA KENSETU CO., LTD. | |||||||||||
Constructional Inspector | CONFIRMATION INSPECTION TOKAI CO. | |||||||||||
PML | 9.8% (Based on the engineering report prepared by Japan Constructive | |||||||||||
Inspect Association CO.,LTD) | ||||||||||||
Appraisal value | 2,140 million yen (as of February 1, 2024) | |||||||||||
Appraiser | JLL Morii Valuation & Advisory K.K. | |||||||||||
Tenant summary (as of February 29, 2024) | ||||||||||||
Number of tenants | 115 | |||||||||||
Annual rent | 93 million yen | |||||||||||
Tenant leasehold / security | 2 million yen | |||||||||||
deposit | ||||||||||||
Total leased area | 2,469.66 ㎡ | Occupancy rate | 91.4% | |||||||||
Total leasable area | 2,703.12 ㎡ | |||||||||||
(based on leased area) | ||||||||||||
Collateral conditions | A lender of a non-recourse loan to Godo Kaisha Sapphire 1, the operator, is to | |||||||||||
take out a pledge as a pledgee. | ||||||||||||
Special notes | None |
9
(b) Summary of underlying assets in Godo Kaisha Sapphire 2
Property name | ADVANCE Kyoto Detendu | ||||||||||||
Location | 40 kisshoinkujocho Minami-ku,Kyoto-shi, Kyoto | ||||||||||||
Type of asset | Trust beneficiary right in real estate | ||||||||||||
Trustee | Mitsubishi UFJ Trust and Banking Corporation | ||||||||||||
Trust period | April 14, 2023 - March 31, 2034 (Scheduled) | ||||||||||||
Land | ㎡ | Commercial districts・ | |||||||||||
Land area | 722.91 | Zoning | |||||||||||
Quasi-industrial districts | |||||||||||||
FAR / building-to-land ratio | 500%・200%/80%・ | Type of possession | Ownership | ||||||||||
60% | |||||||||||||
Building | |||||||||||||
Structure / stories | 9 stories above ground, RC-structure with flat roof | ||||||||||||
Total floor area | 3,846.05 ㎡ | Type | Residence | ||||||||||
Completion date | October 11, 2022 | Type of possession | Ownership | ||||||||||
Design | SUPESUGURAFITI IKKYUKENCHIKUSHIJIMUSHO, YK | ||||||||||||
Construction | MELDIA Development & Construction CO.,LTD. | ||||||||||||
Constructional Inspector | KYOTO ORGANIZATION OF CONFIRMATION & INSPECTION CO.,LTD. | ||||||||||||
PML | 9.7% (Based on the engineering report prepared by Japan Constructive | ||||||||||||
Inspect Association CO.,LTD) | |||||||||||||
Appraisal value | 2,170 million yen (as of February 1, 2024) | ||||||||||||
Appraiser | JLL Morii Valuation & Advisory K.K. | ||||||||||||
Tenant summary (as of February 29, 2024) | |||||||||||||
Number of tenants | 106 | ||||||||||||
Annual rent | 96 million yen | ||||||||||||
Tenant leasehold / security | 0 yen | ||||||||||||
deposit | |||||||||||||
Total leased area | 2,710.56 ㎡ | Occupancy rate | 99.1% | ||||||||||
Total leasable area | 2,735.64 ㎡ | (based on leased area) | |||||||||||
Collateral conditions | A lender of a non-recourse loan to Godo Kaisha Sapphire 2, the operator, is to | ||||||||||||
take out a pledge as a pledgee. | |||||||||||||
This land is within a well-known buried cultural property site under the | |||||||||||||
Special notes | Act on the Protection of Cultural Properties. For that reason, any | ||||||||||||
engineering work on the land requires at least 60 days' notice prior to the | |||||||||||||
start of such work. | |||||||||||||
Property name | ADVANCE Uemachidai Stadt | ||||||||||||
Location | 1-7, Uehonmachinishi 4-chome,Chuo-ku,Osaka-shi, Osaka | ||||||||||||
Type of asset | Trust beneficiary right in real estate | ||||||||||||
Trustee | Mizuho Trust & Banking Co., Ltd. | ||||||||||||
Trust period | July 29, 2022 - March 31, 2034 (Scheduled) | ||||||||||||
Land | |||||||||||||
Land area | 299.97 ㎡ | Zoning | Commercial districts | ||||||||||
FAR / building-to-land ratio | 600%・400%/80% | Type of possession | Ownership | ||||||||||
Building | |||||||||||||
Structure / stories | 15 stories above ground, RC-structure with flat roof・1 story above ground, | ||||||||||||
RC-structure with flat roof | |||||||||||||
Total floor area | 2,096.63 | ㎡ | Type | Residence・Garbage | |||||||||
storage | |||||||||||||
Completion date | July 4, 2022 | Type of possession | Ownership | ||||||||||
Design | Toki Sekkei | ||||||||||||
Construction | Universal Construction Co., Ltd. | ||||||||||||
Constructional Inspector | Nihon Kakunin Architectures Inspection Center Co.,Ltd | ||||||||||||
PML | 8.3% (Based on the engineering report prepared by Japan Constructive | ||||||||||||
Inspect Association CO.,LTD) | |||||||||||||
10
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Japan Metropolitan Fund Investment Corporation published this content on 22 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 March 2024 10:07:15 UTC.