Translation
May 14, 2010

JOINT REIT Investment Corporation
Financial Report for the Fiscal Period ended March 31, 2010

Head Office:Stock Exchange Listing:
URL:Inquiries:

Tokyo
Tokyo Stock Exchange (code number 8973)
http://www.joint-reit.co.jp/
Makoto Asamoto
Sekisui House SI Asset Management, Ltd. (Asset Management Company)
General Manager, Administration+81-3-5759-8848

Name:Title:
TEL:

Planned date of submissionof the Securities Report:
Planned commencement date ofdistribution payment:

June 25, 2010
June 15, 2010
(Note: Amounts less than one million yen have been omitted.)

1. Performance for the Fiscal Period ended March 31, 2010 (October 1, 2009 through March 31, 2010)(1) Operating Results*Percentages indicate changes over the previous fiscal period.
Operating Revenue

Operating Income

Ordinary Income

Net Income

Million yen％*

Million yen％*

Million yen％*

Million yen％*

Fiscal period ended
March 31, 2010

3,402

0.3

1,688

0.1

1,053

△2.0

1,052

△2.1

Fiscal period ended
September 30, 2009

3,391

△1.2

1,685

△0.8

1,075

△5.7

1,074

87.1

Net Incomeper Unit

Return on Unitholders’Equity (ROE)

Ordinary Income on Total
AssetsOrdinary Income on
Operating Revenue

Yen％％％

Fiscal period ended
March 31, 2010

10,0522.1

1.031.0

Fiscal period ended
September 30, 2009

10,2622.2

1.031.7(2) Distributions
Distributionper Unit

Total
Distributions

Distribution in
Excess ofEarnings per Unit

Total
Distributions in
Excess ofEarnings

Distribution
Ratio toNet Assets

Payout Ratio

YenMillion yen

Yen

Yen％％

Fiscal period ended
March 31, 2010

10,052

1,052

00

100.0

2.1

Fiscal period ended
September 30, 2009

10,262

1,074

00100.0

2.2

Note: The payout ratio is rounded down to the first decimal place.

1This translation is for informational purpose only. If there is any discrepancy between the Japanese version and theEnglish translation, the Japanese version shall prevail.

(3) Financial Position
Total Assets

Unitholders’ Equity to
Total Assets

Net Assets

Net Assets per Unit

Million yen

Million yen%Yen

Fiscal period ended
March 31, 2010

104,750

49,75647.5

475,363

Fiscal period ended
September 30, 2009

105,001

49,77847.4

475,573(4) Cash Flow Position
Cash Flows fromOperating Activities

Cash Flows from
Investing Activities

Cash and Cash
Equivalents at the End ofthe Period

Cash Flows from
Financing Activities

Million yen

Million yen

Million yen

Million yen

Fiscal period ended
March 31, 2010

1,697

△190

△1,171

5,678

Fiscal period ended
September 30, 2009

1,650

△195

△623

5,342

2. Forecast of Results for the Next Fiscal Period (April 1, 2010 through September 30, 2010)*Percentages indicate changes over the previous fiscal period.
Operating
Revenue
MillionOperating
Income％*yen

Fiscal period ending
September 30, 2010

3,296

MillionOrdinary
Income％*yen

△3.1

1,576

MillionNet
Income％*yen△6.6937

MillionDistributionper Unit％*YenYen△11.28,1200yen△11.0934

Distribution in
Excess ofEarnings per Unit

Reference: Estimated net income per unit for the next fiscal period ending September 30, 2010: 8,124yen

Explanation concerning the Proper Use of the Forecast of Results and Other Issues to be Noted
Descriptions with regard to future issues including the forecast of operating results are based on the current information
held by the Joint Reit Investment Corporation and certain assumptions deemed reasonable. The actual operating results
may materially differ from the forecast for various reasons. The forecast is not intended to assure the amount ofdistributions to investors.

2This translation is for informational purpose only. If there is any discrepancy between the Japanese version and theEnglish translation, the Japanese version shall prevail.