September 10, 2021

To All Concerned Parties
REIT Issuer: Daiwa Securities Living Investment Corporation
6-2-1 Ginza, Chuo-ku, Tokyo 104-0061
Ikuo Shoda, Executive Director(Securities Code: 8986)
Asset Manager: Daiwa Real Estate Asset Management Co. Ltd.
Toshio Fukushima, President and Chief Executive Officer
Inquiries: Takashi Chiba, General Manager, Corporate Division
Tel: +81-3-6757-9680

Notice Concerning Acquisition and Leasing of Assets(2 Rental Apartments and 4 Healthcare Facilities)
Daiwa Securities Living Investment Corporation (hereinafter referred to as the “Investment Corporation”) hereby announcesthat Daiwa Real Estate Asset Management Co. Ltd. (hereinafter referred to as the “Asset Manager”), the asset manager of theInvestment Corporation, has resolved to acquire and lease the real estate trust beneficiary interests (hereinafter referred to as the“Assets to Be Acquired”) described below. Details are provided below.
Ⅰ． General Outline of the Acquisition
A general outline of the Assets to Be Acquired is detailed in the table below. As of September 10, 2021, the Investment
Corporation has concluded trust beneficiary interest purchase agreements with each of the sellers for the Assets to Be Acquired,
which are scheduled for acquisition on October 1, 2021.
Appraisal value(August 2021)(B)(JPY thousand)(Note 3)Difference
betweenanticipatedacquisition priceand appraisal
value (B)-(A)(JPY thousand)((A)/(B))(Note 3)

Property nameLocation

Property type
(Note 1)

Anticipatedacquisition price(A)(JPY thousand)(Note2) (Note 3)

SplendideShin-Osaka SOUTH

Osaka City
Osaka

Residence(Studio)

4,310,000

4,500,000

190,000(95.8%)GK Tokyo
Residential 4

Serenite Nippombashi
Prier

Osaka City
Osaka

Residence(Studio)

2,606,772

2,750,000

143,228(94.8%)GK Tokyo
Residential 2

6,916,772

7,250,000

333,228(95.4%)

Healthcare
facility

2,550,000

2,630,000

80,000(97.0%)GK DA
Healthcare 4

Healthcare
facility

1,500,000

1,610,000

110,000(93.2%)GK DA
Healthcare 8(Note 4)

Subtotal for residences
Charm Premier
Kamakurayama
As-heim Tsunashima

Kamakura City
Kanagawa
Prefecture
Yokohama City
Kanagawa
Prefecture

Library ShinShibamata

Edogawa WardTokyo

Healthcare
facility

1,405,000

1,470,000

65,000(95.6%)

Ishinkan Kamiooka

Yokohama City
Kanagawa
Prefecture

Healthcare
facility

933,000

1,000,000

67,000(93.3%)

Subtotal for healthcare facilities

6,388,000

6,710,000

322,000(95.2%)

Total

13,304,772

13,960,000

655,228(95.3%)

Seller

Daiwa
Facilities, Co.,
Ltd.
Daiwa
Facilities, Co.,
Ltd.

(Note 1) Studio means residences with 1R, 1K, 1DK, or 1LDK.
(Note 2) Anticipated Acquisition Price does not include acquisition expenses, adjustments to property tax and city planning tax, and consumption tax and local
consumption tax. The same applies hereinafter.
(Note 3) Amounts are rounded to the nearest unit and percentages are rounded to the first decimal place. Unless stated otherwise, the same applies hereinafter.
(Note 4) The name of the property will be changed to “Gran Casa Shin-Osaka SOUTH” in November 2021. The same applies hereinafter.

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(Note 5) Although there is an intermediary for the acquisition of each property to be acquired, except for Splendide Shin-Osaka SOUTH, it does not fall under
the category of an interested persons or other close affiliate.

II. Reason for the Acquisition and Leasing
Based on the asset management objectives and policies set forth in the Investment Corporations Agreement, we have decided
to acquire and lease the Assets to Be Acquired in order to diversify and enhance the portfolio to achieve asset size growth andsecure stable earnings.
The tenants of the Assets to Be Acquired meet the tenant selection criteria outlined in the Investment Corporation’sManagement System Report dated June 25, 2021.
Ⅲ． Details of Assets to Be Acquired and Leasing
The details of the Assets to Be Acquired and leasing are summarized in the following individual property tables. The
following is a description of the items mentioned in the individual property tables.
<Description of Items>
a． Explanation of Overview of Properties
1.
2.
3.
4.
5.

6.

7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.

“Location (residential indication)” is stated based on the residential indication in principle. Where residential indication is
not shown, building location (if there is more than one, the location of one of the buildings) is shown in accordance witheither the housing number indication or the registry (including the Registration Record; the same applies hereinafter).
“Form of ownership” for both Land and Building refers the type of rights held by the Investment Corporation for real estateand by the Trustee for real estate trust beneficiary interests.
“Zoning” for Land refers to the types of use districts stipulated by Item 1, Paragraph 1, Article 8 of the City Planning Act(Law No. 100 of 1968, including later amendments) (hereinafter referred to as the “City Planning Act”).
“Area” for Land is shown in accordance with the registry and may not correspond to the current reality.
“FAR” for Land refers to the ratio of the sum of the floor space of the building to the land area as stipulated in Article 52 of
the Building Standards Act (Law No. 201 of 1950, including later amendments) (hereinafter referred to as the “BuildingStandards Act”), and the upper limit of floor-to-area ratio (designated floor-to-area ratio) as determined by city planningaccording to the use area. The designated floor-to-area ratio can be mitigated, increased, or reduced due to the width of roads
connected to the site and other reasons, and may differ from the floor-to-area ratio that is actually in use.
“Building-to-land ratio” for Land shows the ratio of the building area to the land area as stipulated in Article 53 of the
Building Standards Act, and the upper limit of building-to-land ratio (designated building-to-land ratio) as determined bycity planning according to the use area. The designated building-to-land ratio can be mitigated, increased, or reduced due tofireproofed structures in a fire prevention district and other factors, and may differ from the building-to-land ratio that is
actually in use.
“Use” for Building refers to the building type recorded in the registry.
“Structure/Floors” for Building is based on records in the registry.
“Number of leasable units” (in the case of a residence) indicates the number of units that can be leased as of July 31, 2021,
for the Assets to Be Acquired.
“Number of leasable compartments” (in the case of healthcare facilities) indicates the number of compartments of a building
where a lease contract has been concluded as of July 31, 2021, for the Assets to Be Acquired, and includes retail stores,
offices, etc., if any.
“Total floor area” for Building is based on records in the registry and does not include the floor area of annexed buildings.
“Construction completion” for Building refers to the date of completion recorded in the registry.
“Estimated emergency repair expenses,” “Estimated short-term repair expenses,” and “Estimated long-term repair expenses”
are rounded down to the nearest thousand, while ratios are rounded to the first decimal place.
“PML” data was acquired from Tokyo Marine dR Co., Ltd. in July 2021.
“Property manager” is the property management company entrusted with, or scheduled to be entrusted with the property
management operations.
“Master lessee” is the party that has, or is scheduled to enter into a master lease agreement concerning the asset in question.
“Type of master lease” is either “Pass through” or “Guaranteed rent.” “Pass through” is a master lease agreement where themaster lessee passes on the rent equivalent to rent paid by the end tenant, and “Guaranteed rent” is a master lease agreementin which the master lessee pays a fixed rent.
“Real estate rent revenue” is the monthly rental income (rent, common service fee, parking lot income, etc.) rounded down
to less than 1,000 yen based on the figures and information available as of July 31, 2021, of the Assets to Be Acquired.

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

19.
20.

21.
22.

23.
24.
25.

“Lease and guarantee deposits, etc.” are the lease or guarantee deposits (residences, retail stores, offices, parking lots, etc.)
rounded down to less than 1,000 yen based on the figures and information available as of July 31, 2021, of the Assets to Be
Acquired.
“Leasable area” shows the leasable area of each of the Assets to Be Acquired as of July 31, 2021, excluding area used bystorage spaces, parking spaces, custodian areas, signboards, vending machines, antennas and other spaces leased to the lesseein addition to their main use, or other areas leased for the maintenance and supervision of the relevant property (including
loan for use). Furthermore, leasable area is calculated using the center line of the wall, and includes the meter boxes and pipe
spaces allotted to each unit.
“Number of tenants” shows the total number of tenants for the Assets to Be Acquired as of July 31, 2021, and shall be one(1) if a master lease agreement has been concluded with a master lessee.
“Total leased area” is the sum of the area leased through lease agreements with end-tenants (however, in cases whereproperties are wholly leased to realtors through guaranteed rent agreements or where a master lessee wholly leases it toanother company, lease agreements where properties are wholly leased to a lessee) at the Assets to Be Acquired that are ineffect as of July 31, 2021.
“Occupancy rate” is the figure obtained by dividing the total leased area by the leasable area for the Assets to Be Acquired
as of July 31, 2021, rounded down to the first decimal place.
The “Features” sections have been prepared based on the analyses of the Asset Manager and the appraisal reports of the realestate appraiser concerning the Assets to Be Acquired.
The “Special Notes” section denotes important factors upon considering the rights, appraisal values, the impact on
profitability and disposability, etc., concerning the Assets to Be Acquired.

b. Explanation of Overview of Operator and Facility (Only for Healthcare Facilities)
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

11.

12.
13.
14.
15.
16.
17.
18.

“Operator” refers to the party operating the long-term care facilities at the Assets to Be Acquired as displayed in the
explanation of important matters.
“Opening date” refers to the date the facility opened as displayed in the explanation of important matters.
“Type of facility” refers the type of the facility as displayed in the explanation of important matters.
“Number of rooms” refers to the number of rooms as displayed in the explanation of important matters.
“Right to reside status” refers to the right to reside status as displayed in the explanation of important matters.
“Resident capacity” refers to the resident capacity as displayed in the explanation of important matters.
“Room area range” refers to the floor area of rooms as displayed in the explanation of important matters.
“Number of residents” refers to the number of residents as displayed in the explanation of important matters.
“Requirements for entry” refers to the requirements for occupancy at the facility as displayed in the explanation of importantmatters.
“Occupancy rate” is the ratio obtained by dividing the number of residents by resident capacity as displayed in the explanationof important matters, rounded down to one decimal place. Furthermore, the occupancy rate indicated in the explanation ofimportant matters may differ from the ratio obtained by dividing the number of residents by resident capacity due to situations
wherein people temporarily not residing at the facility are included.
“Average level of nursing care required” refers to the figure obtained by multiplying the respective number of residents
categorized in the explanation of important matters as either “independent,” “requiring support level 1,” “requiring support
level 2,” “requiring nursing care levels 1-5,” and “other” by 0, 0.375, 1, 1-5, and 1, respectively, and dividing the total by the
number of residents, rounded down to one decimal place.
“Average age of residents” refers to the average age as displayed in the explanation of important matters, rounded down to
the nearest whole number.
“One-time entrance fee” refers to the one-time entrance fee for single occupancy for the general public as displayed in the
explanation of important matters or on the price list obtained from the operator.
“Monthly service fee” refers to the monthly service fee for single occupancy for the general public (excluding user payments
for long-term care insurance services) as displayed in the explanation of important matters or on the price list obtained fromthe operator.
“Staff engaged in nursing care” refers to the ratio of the number of full-time equivalency nursing and nursing care staff tothe number of facility users as displayed in the explanation of important matters.
“Staff at night (number of staff members at minimum)” refers to the staff at night (number of staff members at minimum) as
displayed in the explanation of important matters.
“Cooperating medical organization” refers to the cooperating medical organization, etc. as displayed in the explanation ofimportant matters.
“Cooperating dental organization” refers to the cooperating dental organization as displayed in the explanation of importantmatters.

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

1. Splendide Shin-Osaka SOUTH
Category of anticipatedproperty for acquisition
Trustee (scheduled)
Trust agreement period
Anticipated acquisition priceAppraisal value(appraisal date)
Location(residential indication)
AccessLand

Form ofownership
Area

Building

Form ofownership
Structure/Floors

Total floor area
Building engineer
Constructor
Building inspection agency
Estimated emergency repair
expenses
Estimated long-term repair
expenses
Property manager
Master lessee
Real estate rent revenue(note)
Lease and guarantee deposits,
etc.
Total leasable area
Total leased area (note)
Collateral

Overview of the Property
Trust beneficiary interests
Mitsubishi UFJ Trust and Banking Corporation
April 30, 2021 to April 30, 2031
JPY 4,310 million
Scheduled acquisition date
JPY 4,500 million
Appraisal firm
(as of August 1, 2021)

October 1, 2021
Tanizawa Sogo Appraisal
Co., Ltd.

4-11-1, Kikawahigashi, Yodogawa-ku, Osaka city, Osaka
Approximately 630 meters from Nishinakajima-Minamigata Station on the Osaka Metro
Midosuji Line
Approximately 900 meters from Shin-Osaka Station on the Osaka Metro Midosuji Line,etc.
(A) Category 2 Residential
District
Ownership
Zoning(B) Category 1 Residential
District(A) 300%／80%
FAR／Building-to-land
1,850.67 m2
ratio(B) 300%／80%
Ownership

Use

Condominium/shop

RC,
Number of leasable units
129 units
9-story building
6,718.01 m2
Construction completion
February 16, 2021
Shinto Keikaku Co., Ltd.
PREGIO Corporation
Kinkaku Kikou Co., Ltd. (buildings, elevators)
Kakunin Kensa Kikou Plan 21 Co., Ltd. (rooftop billboard)
Estimated short-term
JPY 0 thousand
JPY 0 thousand
repair expenses
JPY 47,690 thousand

PML

Shinwa Construction. Co., Ltd.
G.K. Japan Rental Housing Type of master lease
Overview of Leasing

8.8%
Pass throughJPY 19,231 thousand
JPY 12,464 thousand
5,506.87 m2
5,506.87 m2
None

Number of tenants
Occupancy rate (note)

1
100.0%

Features
The property is a condominium completed in February 2021, located an 8-minute walk from
Nishinakajima-Minamigata Station on the Osaka Metro Midosuji Line. The property is also a 12minute walk from Shin-Osaka Station on the Osaka Metro Midosuji Line and other lines, providing
easy access to Umeda, Yodoyabashi and Namba Stations by subway, as well as JR, Hankyu andShinkansen lines. As there are several supermarkets, etc. in the surrounding area and a drugstore on thefirst floor of the apartment building, the property is expected to have stable demand from young, single
adults who place importance on transportation access and living convenience, as well as transferees
who place importance on access to Shinkansen stations.
Property features: This building is a 9-story building made of reinforced concrete consisting of 128 1LDK rooms and one
shop. In addition to common facilities such as an auto-lock system, intercom with monitor, security
cameras, and home delivery box, as well as in-unit facilities such as a bathroom dryer and hot-water
washing toilet seat, each unit is equipped with a free Internet connection as standard, providing
residents with a high-quality and comfortable lifestyle.
Special Notes
Site features:Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

The road to the south of the target site is a city planning road (Juso Suita Line, with a planned width of 30 meters), and apart of the south side of the target site is included in the area scheduled to be widened. While no decision has been madeto execute the project, and the details of when the project would be conducted are undetermined, if the project isdetermined, a portion of the south side of the target site (approximately 327.97 m2) would likely be expropriated to
expand the road, which could make the existing building unfit.
(Note) The Seller has entered into an agreement with a party related to the transaction at the time of the initial acquisition toreceive rent guarantees for a unit for which rent has not yet been generated with the end tenant after the new
construction (target units) for the period from August 27, 2021 until the day before rent is generated with the end tenantof each unit. Accordingly, the total leased area is calculated including the units subject to rent guarantee for which rent
has not yet been paid as of July 31, 2021, and the occupancy rate is also calculated based on this total leased area. The
real estate rent revenue is also calculated in the same way, including the guaranteed rent for the rooms that will receive
the rent guarantee.
2. Serenite Nippombashi Prier
Category of anticipatedproperty for acquisition
Trustee (scheduled)
Trust agreement period
Anticipated acquisition priceAppraisal value(appraisal date)
Location(residential indication)

AccessLand

Form ofownershipArea

Form ofownership
Building
Structure/Floors
Total floor area
Building engineer
Constructor
Building inspection agency
Estimated emergency repair
expenses
Estimated long-term repair
expenses
Property manager
Master lessee
Real estate rent revenue
Lease and guarantee deposits,
etc.
Total leasable area
Total leased area
Collateral
Site features:

Overview of the Property
Trust beneficiary interests
Mitsubishi UFJ Trust and Banking Corporation
From February 26, 2021 to February 28, 2031
JPY 2,606 million
Scheduled acquisition date
JPY 2,750 million
Appraisal firm
(as of August 1, 2021)

October 1, 2021
Tanizawa Sogo Appraisal
Co., Ltd.

1-6-7, Nippombashi Higashi, Naniwa-ku, Osaka city, Osaka
Approximately 770 meters from Nippombashi Station on the Osaka Metro Sakaisuji Lineand Sennichimae Line
Approximately 680 meters from Shitennojimae-yuhigaoka Station on the Osaka Metro
Line
Approximately 770 meters from Kintetsu-Nippombashi Station on the Kintetsu NambaLine
Ownership

ZoningCommercial District

879.38 m2

FAR／Building-to-land
ratio

400%／80%

Ownership

Use

Condominium

RC, 15-story building
Number of leasable units
140 units
3,721.21 m2
Construction completion
January 18, 2021
First-class Registered Architect Office Sunada Construction Co., Ltd.
Sunada Construction Co., Ltd.
Osaka Building Disaster Prevention Center
Estimated short-term
JPY 0 thousand
JPY 0 thousand
repair expenses
JPY 32,582 thousand

PML

Haseko Livenet, Inc.
G.K. Japan Rental Housing Type of master lease
Overview of Leasing
JPY 9,417 thousand

11.7%
Pass throughJPY 1,494 thousand
3,498.04 m2
2,737.76 m2
None

Number of tenants
Occupancy rate

1
78.3%

Features
The property is a condominium completed in January 2021, located a 10-minute walk from
Nippombashi Station on the Osaka Metro Sakaisuji Line and Sennichimae Line and the Kintetsu
Nippombashi Station on the Kintetsu Namba Line, and a 9-minute walk from Shitennojimae Yuhigaoka

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

Station on the Osaka Metro Tanimachi Line. The Namba area, one of Osaka's most popular shopping
areas, is only one station away, and multiple train lines are available from each station within walking
distance. The property is surrounded by supermarkets, convenience stores, restaurants, etc., and is
expected to meet the stable needs of single adults who value the proximity to the city and convenienceof living therein.
Property features: The property is a 15-story reinforced concrete building consisting of 84 1K, 28 1DK and 28 1LDK
rooms. All units face south and are available in three types of floor plans, making the property capableof meeting the needs of various tenants. In addition to common facilities such as an auto-lock system,
intercom with monitor, security cameras, and home delivery box, and in-unit facilities such as abathroom dryer and hot-water washing toilet seat, each unit is equipped with a free Internet connection
as standard, providing residents with a high-quality and comfortable lifestyle.
Special Notes
None.
3. Charm Premier Kamakurayama
Category of anticipatedproperty for acquisition
Trustee (scheduled)
Trust agreement period
Anticipated acquisition priceAppraisal value(appraisal date)
Location(residential indication)
AccessLand

Form ofownershipArea
Form ofownership

Building

Structure/Floors

Total floor area
Building engineer
Constructor
Building inspection agency
Estimated emergency repair
expenses
Estimated long-term repair
expenses
Property manager
Master lessee
Real estate rent revenue
Lease and guarantee deposits,
etc.
Total leasable area

Overview of the Property
Trust beneficiary interests
Mitsubishi UFJ Trust and Banking Corporation
From September 1, 2020, to August 31, 2030
JPY 2,550 million
Scheduled acquisition date
JPY 2,630 million
Appraisal firm
(as of August 1, 2021)

October 1, 2021
Tanizawa Sogo Appraisal
Co., Ltd.

3-20-1, Kamakurayama, Kamakura-shi, Kanagawa
Approx. 1,000 meters from Nishikamakura Station on the Shonan Monorail Enoshima
Line
Category 1 low-riseOwnership
Zoningresidential area
FAR／
Building-to-land
6,555.38 m2
80%／40%ratio
OwnershipUse

RC, 3-story building with
Numberofleasablealloy-plated steel sheet
compartments
roofing
3,373.52 m2
Construction completion
IAO TAKEDA ARCHITECTS ASSOCIATES CO., LTD.
Kadokura Co., Ltd.
Bureau Veritas Japan Co., Ltd.
Estimated short-term repair
JPY 0 thousand
expenses
JPY 21,025 thousand

PML

AIP Healthcare Japan GK
The Investment Corporation Type of master lease
Overview of Leasing
Undisclosed (Note)

Home for the elderly
1
July 17, 2020

JPY 0 thousand
13.1%
Pass throughUndisclosed (Note)
3,373.52 m2

Major tenant

Total leased area
3,373.52 m2
Occupancy rate
Area of space occupied by
3,373.52 m2
Ratio to total leasable areamajor tenant(Overview of contract with major tenant)Contract format:
Standard building lease contract
Contract period:
From September 1, 2020, to August 31, 2050

K.K. Charm Care
Corporation
100.0%
100.0%

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

Rent revision:

The rent shall remain unchanged for 10 years from the commencement date of the lease, and shallbe determined through mutual consultation based on the rent of the previous month in the 11th
year. The same shall apply every five years thereafter. In the event of a major change in economic
conditions, the rent may be revised upon mutual consultation.
Contract renewal:
If the lessor or lessee do not express their intention to refuse renewal at least 6 months prior to the
expiration date of the above-mentioned agreement period, the contract shall be automaticallyrenewed for a period of 3 years starting the day following the expiration date of the agreement
period, and the same shall apply thereafter.
Mid-term cancellation: If the lessee wishes for a mid-term cancellation during the contract period, the lessee may do so
by giving a written notice to the lessor at least 1 year prior to the desired date of mid-term
cancellation. In the event of mid-term cancellation, the total project cost of the property (allexpenses such as construction cost, design cost, surveying cost, insurance premiums, interest
paid, various taxes, advance preparation cost, etc.) up to the time of cancellation shall be divided
by the number of contract months, and the amount of one month multiplied by the number ofremaining contract months shall be paid to the lessor as compensation for damages. In addition,in the event that the lessee determines that the continuation of the agreement is difficult anddesignates a successor or another lessee and transfers the right of lease, the transfer of the right oflease shall be recognized if the lessor agrees and the successor agrees to the continued
performance of this agreement, and the lessee shall be exempted from responsibility for paymentof compensation for damages by paying the amount equivalent to the rent until the date the newlessee's rent accrues.
Overview of Operator and Facility (Date of explanation of important matters: June 1, 2021)
Charm Care Corporation
Operator
Opening date
October 1, 2020
Co., Ltd.
Fee-based home for theType of facility
elderly with nursing care
Number of rooms
57(designated facility)
Right to reside status
Right to use
Resident capacity
68
Room area range
21.99 m² to 45.25 m²
Number of residents
26
Independent/requiring
Requirements for entry
support/requiring nursing
Occupancy rate
38.2%
care
Average level of nursing care
1.9
Average age of residents
85
requiredService fee payment method
One-time entrance fee
Monthly fee
One-time entrance fee
4,920,000 yen to－(rent received in advance)
32,400,000 yen
JPY 248,500 to JPY
JPY 412,500 to JPY
Monthly service fee
644,500
914,500
Staff at night (number ofStaff engaged in nursing care
Not statedstaff members at
1 nursing care staff
minimum)
Cooperating medical
Medical Corporation SHONAN CHU-OKAI Katase Clinic
organization
Cooperating dental organization Medical Corporation Wakaba Group Shonan Shoku Support Dentistry
Features
Site features:
The property is located a 13-minute walk from Nishi-Kamakura Station on the Shonan Monorail
Enoshima Line, and the surrounding area is a quiet residential area on a hilltop. The area is also popular
as a vacation home area due to its proximity to the Shonan area, and is surrounded by mountains andforests, providing a rich natural environment. It takes less than 10 minutes to get to Ofuna Station, thecenter of transportation, by monorail, making it a convenient living environment that combines a richnatural environment with convenient transportation.
Property features: The building is a fee-based home for the elderly with nursing care and provides private rooms of 21 m2
or more, as a size for specified facilities for people in need of nursing care. The room facilities include a
Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

washstand and a toilet, as well as a kitchen in some units, while the common space has various
common-use facilities including an exclusive café/lounge for residents, a culture room, art exhibits, anda rooftop garden.
Special Notes
The lease agreement with the tenant stipulates that in the case where the Trustee is to sell the property to a third party, thelessee is to be given an opportunity to negotiate a preferential purchase agreement.
(Note) Undisclosed as the tenant has not provided consent for disclosure.
4. As-heim Tsunashima
Category of anticipatedproperty for acquisition
Trustee (scheduled)
Trust agreement period
Anticipated acquisition priceAppraisal value(appraisal date)
Location(residential indication)
AccessLand

Form ofownership
Area

Building

Form ofownership
Structure/Floors

Total floor area
Building engineer
Constructor
Building inspection agency
Estimated emergency repair
expenses
Estimated long-term repair
expenses
Property manager
Master lessee
Real estate rent revenue
Lease and guarantee deposits,
etc.
Total leasable area

Overview of the Property
Trust beneficiary interests
Sumitomo Mitsui Trust Bank, Limited
From May 31, 2021 to May 31, 2031
JPY 1,500 million
Scheduled acquisition date
JPY 1,610 million
Appraisal firm
(as of August 1, 2021)

October 1, 2021
Tanizawa Sogo Appraisal
Co., Ltd.

4-29-1 Komaoka, Tsurumi-ku, Yokohama city, Kanagawa
Approximately 2,200 m from Tsunashima Station on the Tokyu Toyoko Line
(A) Category 1 Residential
District
Ownership
Zoning(B) Category 2 Residential
District
FAR ／ Building-to-land (A) 200%／60%
22,338.26 m
ratio(B) 200%／60%
OwnershipUse

S, 4-story building with flat Numberofleasableroof
compartments
2,897.29 m2
Construction completion
First-Class Architect's Office Minoru Design Office Ltd.
Daiwa House Industry Co., Ltd.
Away Building Evaluation Network Inc.
Estimated short-term repair
JPY 0 thousand
expenses
JPY 23,481 thousand

PML

AIP Healthcare Japan GK
The Investment Corporation Type of master lease
Overview of Leasing
Undisclosed (Note)

Home for the elderly
1
January 19, 2021

JPY 0 thousand
7.7%
Pass throughUndisclosed (Note)
2,976.60 m2

Major tenant

As Partners Co., Ltd.

Total leased area
2,976.60 m
Occupancy rate
100.0%
Area of space occupied by
2
2,976.60 m
Ratio to total leasable area 100.0%
major tenant(Overview of contract with major tenant)Contract format:
Standard building lease contract
Contract period:
From February 1, 2021 to January 31, 2046
Rent revision:
The rent may be revised upon discussion if it is deemed unreasonable in comparison with similarbuildings in the neighborhood due to changes in economic conditions, etc.
Contract renewal:
If the lessor or lessee does not indicate in writing to the other party of their intentions at least 6months prior to the expiration date of the above-mentioned agreement period, the contract shallbe automatically renewed for a period of 2 years starting the day following the expiration date of
the agreement period, and the same shall apply thereafter.
2

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

Mid-term cancellation: The contract may not be terminated before the expiration date. In the event that the lessee wishes
to terminate the contract before the end of the contract period, the lessee may do so by paying apenalty fee (960,000,000 yen / 300 months x the number of months remaining in the contract security deposit) and waiving the security deposit in full. In the event that the lessee appoints anoperator approved by the lessor to succeed to the contract, no penalty fee shall be incurred andthe security deposit shall not be waived. However, if the monthly rent is reduced as a result of thesuccession, a penalty fee (difference in rent x number of months remaining in the contract security deposit) shall be incurred (the amount of the penalty fee shall be offset against the
security deposit and the amount of the penalty fee after the offset shall be paid to the lessor).
Overview of Operator and Facility (Date of explanation of important matters: April 1, 2021)
Operator
As Partners Co., Ltd.
Opening date
March 1, 2021
Fee-based home for theType of facility
elderly with nursing care
Number of rooms
80(designated facility)
Right to reside status
Right to use
Resident capacity
80
Room area range
18.00 m2
Number of residents
11
Requirements for entry
Requiring nursing care
Occupancy rate
13.7%
Average level of nursing care
2.6
Average age of residents
85
requiredService fee payment method
One-time entrance fee
Monthly fee
One-time entrance fee
JPY 6,000,000 to JPY－(rent received in advance)
9,000,000
JPY 173,000 to JPY
Monthly service fee
323,000 yen
223,000
Staff at night (number ofStaff engaged in nursing care
2.0:1
staff members at
1 nursing care staff
minimum)
Medical Corporation Hinokikai Kawasaki Yamabuki Clinic
Cooperating medical
Medical Corporation Youseikai Kawai Clinic Musashi Kosugi
Welfare Association Yokohama Workers’ Ushioda General Hospitalorganization
Medical Corporation Sanseikai Ookurayama Memorial Hospital
Cooperating dental organization Medical Corporation Seibi-Kai Shimizu Dental Clinic
Features
Site features:This property is located approximately 2.2 km from Tsunashima Station on the Tokyu Toyoko Line.
Although it is not within walking distance, there are semi-arterial roads in the surrounding area,
ensuring convenient transportation by bus or private car. As the property is located on a hill, it is a quiet
residential area with an excellent view, which is recognized as a comfortable place to live, and as there
are retail stores, restaurants, etc. in the surrounding area, it is also a convenient location for visitors.
Property features: The building is a fee-based home for the elderly with nursing care and provides private rooms of 18 m2,
a standard size for specified facilities for people in need of nursing care. The room facilities include awashstand, a toilet, and a closet, while the common area has a lounge space, functional training area,
rooftop garden, and other shared facilities. In addition, EGAOlink, an operator’s system developed inhouse, is linked to the nurse call system to monitor sleep status and share recorded information.
Special Notes
The lease agreement with the tenant stipulates that in the case where the Trustee is to sell the property to a third party, thelessee is to be given an opportunity to negotiate a preferential purchase agreement.
(Note) Undisclosed as the tenant has not provided consent for disclosure.
5. Library Shin-Shibamata
Category of anticipatedproperty for acquisition
Trustee (scheduled)

Overview of the Property
Trust beneficiary interests
Mitsubishi UFJ Trust and Banking Corporation

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

Trust agreement period
Anticipated acquisition priceAppraisal value(appraisal date)
Location(residential indication)
AccessForm ofownership
Land
Area

Building

Form ofownership
Structure/Floors

Total floor area
Building engineer
Constructor
Building inspection agency
Estimated emergency repair
expenses
Estimated long-term repair
expenses
Property manager
Master lessee
Real estate rent revenue
Lease and guarantee deposits,
etc.
Total leasable area

From September 30, 2020 to September 30, 2030
JPY 1,405 million
Scheduled acquisition date
JPY 1,470 million
Appraisal firm
(as of August 1, 2021)

October 1, 2021
Tanizawa Sogo Appraisal
Co., Ltd.

8-13-2, Kita-Koiwa, Edogawa-ku, Tokyo
Approx. 600 meters from Shin-Shibamata Station on the Hokuso Railway Hokuso Line
Category 1 medium- to
Ownership
Zoninghigh-rise residential area
FAR ／ Building-to-land
2
1,302.46 m
200%／60%
ratio
OwnershipUse

S, 3-story building with flat Numberofleasableroof
compartments
2,210.6 m2
Construction completion
Daiwa House Industry Co., Ltd.
Daiwa House Industry Co., Ltd.
KBI(Kanagawa Building Inspection)
Estimated short-term repair
JPY 0 thousand
expenses
JPY 15,696 thousand

PML

AIP Healthcare Japan GK
The Investment Corporation Type of master lease
Overview of Leasing
Undisclosed (Note)

Home for the elderly
1
August 17, 2020

JPY 0 thousand
2.4%
Pass throughUndisclosed (Note)
2,215.88 m2

Major tenant

Living Platform Co., Ltd.

Total leased area
2,215.88 m
Occupancy rate
100.0%
Area of space occupied by
2,215.88 m2
Ratio to total leasable area 100.0%
major tenant(Overview of contract with major tenant)Contract format:
Standard building lease contract
Contract period:
From October 1, 2020 to September 30, 2050
Rent revision:
As a general rule, although rent cannot be revised during the lease period, if the rent becomessignificantly unreasonable due to changes in the economic situation, the rent may be revised bymutual agreement between the lessor and lessee upon consultation.
Contract renewal:
If the lessor or lessee does not indicate in writing of their intentions of non-renewal to the otherparty between one year and six months prior to the expiration date of the above-mentioned
agreement, the contract shall be automatically renewed for two years from the day after the
expiration date of the lease term, and the same shall apply thereafter.
Mid-term cancellation: The lessee may not cancel the contract mid-term until September 30, 2040. However, if the lessee
wishes to terminate the contract between the day after the last day of the non-cancellable period
and the expiration date, the lessee may do so by giving a written notice to the lessor at least 12
months prior to the desired date of mid-term cancellation. In the event of a mid-term termination,
the lessee must either pay three months' rent to the lessor, or introduce a candidate for analternative lessee to the lessor at least six months prior to the desired mid-term termination date,
and a new lease contract between the alternative lessee and the lessor must be concluded.
Overview of Operator and Facility (Date of explanation of important matters: April 1, 2021)
Operator
Living Platform Co., Ltd.
Opening date
October 1, 2020
Fee-based home for theelderly with nursing care
Type of facility
Number of rooms
65(designated facility)
Right to reside status
Right to use
Resident capacity
65
Room area range
18.00
Number of residents
392

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

Requirements for entry
Average level of nursing carerequiredService fee payment method

Requiringsupport/requiring nursing
care

Occupancy rate

60.0%

2.4

Average age of residents

85

One-time entrance fee

Monthly fee－－－
Staff at night (number ofstaff members at
minimum)

194,600 yen

One-time entrance fee(rent received in advance)
Monthly service fee
Staff engaged in nursing care
Cooperating medicalorganization
Cooperating dental organization

3.0:1

2 nursing care staff

Medical Corporation Jikoukai Horikiri Central Hospital

Kameari Yurodo Dental Clinic
Features
Site features:
The property is located an 8-minute walk from Shin-Shibamata Station on the Hokuso Railway Hokuso
Line, making it possible to access Asakusa Station in approximately 20 minutes and Akihabara Station
and Kita-Senju Station, the largest terminal station in the northeastern part of Tokyo, in approximately
30 minutes by train. The area is surrounded by detached houses and low- to medium-rise apartment
houses with stores, providing a good living environment. The property is close to the nearest station,
making it a convenient location not only for visitors but also for facility workers.
Property features: The building is a new fee-based home for the elderly with nursing care, completed in August 2020, andprovides private rooms of 18 m2, a standard size for specified facilities for people in need of nursing
care. In addition, the property is equipped with a washbasin and toilet as room facilities.
Special Notes
The lease agreement with the tenant stipulates that in the case where the Trustee is to sell the property to a third party, thelessee is to be given an opportunity to exercise preemptive rights.
(Note) Undisclosed as the tenant has not provided consent for disclosure.
6. Ishinkan Kamiooka
Category of anticipatedproperty for acquisition
Trustee (scheduled)
Trust agreement period
Anticipated acquisition priceAppraisal value(appraisal date)
Location(residential indication)
AccessLand

Building

Form ofownershipArea
Form ofownership
Structure/Floors

Total floor area
Building engineer
Constructor

Overview of the Property
Trust beneficiary interests
Mitsubishi UFJ Trust and Banking Corporation
From September 30, 2020 to September 30, 2030
JPY 933 million
Scheduled acquisition date
JPY 1,000 million
Appraisal firm
(as of August 1, 2021)

October 1, 2021
Tanizawa Sogo Appraisal
Co., Ltd.

1-11-13, Okubo, Konan-ku, Yokohama city, Kanagawa
Approx. 350 meters from Kamiooka Station on the Yokohama Municipal Subway BlueLine and Keikyu Electric Express Railway Main Line
Category 1 Residential
Ownership
ZoningDistrict
FAR／
Building-to-land
676.12 m2
200%／60%
ratio
OwnershipUse

RC, 3-story building
1,243.46 m
Keiyo Technica Co., Ltd.
Keiyo Technica Co., Ltd.
2

Numberofleasablecompartments
Construction completion

Home for the elderly
1
August 11, 2020

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

Building inspection agency
Estimated emergency repair
expenses
Estimated long-term repair
expenses
Property manager
Master lessee
Real estate rent revenue
Lease and guarantee deposits,
etc.
Total leasable area

Nihon Kakunin Center Co., Ltd.
Estimated short-term repair
JPY 0 thousand
expenses
JPY 8,374 thousand

PML

AIP Healthcare Japan GK
The Investment Corporation Type of master lease
Overview of Leasing
Undisclosed (Note)

JPY 0 thousand
14.4%
Pass throughUndisclosed (Note)
1,243.46 m2

Major tenant

Amvis Co., Ltd.

Total leased area
1,243.46 m
Occupancy rate
100.0%
Area of space occupied by
2
1,243.46 m
Ratio to total leasable area 100.0%
major tenant(Overview of contract with major tenant)Contract format:
Standard building lease contract
Contract period:
From September 1, 2020, to August 31, 2050
Rent revision:
As a general rule, although rent cannot be revised during the lease period, in the event that therent becomes significantly unreasonable due to changes in the economic situation, the other party
may be requested to consult on the revision of the rent.
Contract renewal:
If the lessor or lessee does not indicate in writing to the other party of their intentions at least 1
month prior to the expiration date of the above-mentioned agreement period, the contract shall be
automatically renewed for a period of 2 years starting the day following the expiration date of theagreement period, and the same shall apply thereafter.
Mid-term cancellation: Undisclosed (Note)(Date of explanation of important matters: April 1,
Overview of Operator and Facility
2021)
Operator
Amvis Co., Ltd.
Opening date
September 1, 2020
Fee-based assisted-living
Type of facility
Number of rooms
49
homes for the elderly
Right to reside status
Right to use
Resident capacity
49
Room area range
13.20 m² to 14.69 m²
Number of residents
49
Independent/requiringsupport/requiring nursing
Requirements for entry
Occupancy rate
100.0%
care
Average level of nursing care
3.4
Average age of residents
76
requiredService fee payment method
One-time entrance fee
Monthly fee
One-time entrance fee－－(rent received in advance)
JPY 108,400 to JPY
Monthly service fee－
120,900
Staff at night (number of
Total of 1 nursing andStaff engaged in nursing care
Not statedstaff members at
nursing care staff
minimum)
Cooperating medical
Medical Corporation Koujukai Hikari Home Clinic
organization
Cooperating dental organization －Features
Site features:
The property is located a 5-minute walk from Kamiooka Station on the Yokohama Municipal Subway
Blue Line and the Keikyu Electric Express Railway Main Line, making it possible to access Yokohama
Station in about 10 minutes and the Tokyo area in about 50 minutes by train. The surrounding area is aquiet residential area with a good living environment. The proximity to the nearest station makes the2

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

location highly convenient not only for visitors, but also for facility workers, making it highly
advantageous from the perspective of securing facility workers.
Property features: The building is a new fee-based assisted-living home for the elderly, completed in August 2020, and all
rooms are private rooms equipped with nursing care beds, toilets with bidet functions, etc. In addition,
the facility has the character of a hospice, and is capable of accepting residents requiring a high level of
medical care, and has a generous nursing and care system in place.
Special Notes
The lease agreement with the tenant stipulates that in the case where the Trustee is to sell the property to a third party, thelessee is to be given an opportunity to negotiate a preferential purchase agreement.
(Note) Undisclosed as the tenant has not provided consent for disclosure.
IV. Profile of the Counterparty
Splendide Shin-Osaka SOUTH(1)
Company name(2)
Location
Title and name of(3)
representative(4)

Description ofbusiness(5)

Amount of capital(6)

Sales amount(7)

Date ofincorporation(8)

Net assets

(9)
(10)
(11)

GK Tokyo Residential 41-4-1 Nihonbashi, Chuo-ku, Tokyo
Representative member, General Incorporated Association Tokyo Residential 4
Function Manager Takanori Mishina
1. Acquisition, owning, and disposition of trust beneficiary interests in real estate
as asset in trust
2. Trading, leasing, management, acquisition, owning, disposition, and use of realestate3. All operations incidental to or relating to the preceding items
JPY 400,000
The sales amount is not disclosed as consent for disclosure has not been obtained
from the seller.
February 2, 2021

The amount of net assets is not disclosed as consent for disclosure has not beenobtained from the seller.
The amount of total assets is not disclosed as consent for disclosure has not been
Total assets
obtained from the seller.
Major
Major shareholders are not disclosed as consent for disclosure has not beenshareholders
obtained from the seller.
Relationship between the seller and the Investment Corporation/Asset Manager
There is no capital relationship required to be disclosed between the Investment
Corporation and the seller.
However, Daiwa Securities Group Inc. (hereinafter referred to as the “Daiwa
Securities Group”), the parent company of the Asset Manager, has conducted
Capitalrelationshipinvestment equal to the entire equity of silent partnership interest of the seller as
its sole silent partner. In addition, the seller falls under the category of interested
persons or other close affiliate of the Asset Manager as stipulated in the Act on
Investment Trusts and Investment Corporations.
There is no personnel relationship required to be disclosed between theInvestment Corporation/Asset Manager and the seller. In addition, there is no
Personnel
personnel relationship required to be disclosed between the affiliated parties andrelationshipthe affiliated companies of the Investment Corporation/Asset Manager and theaffiliated parties and the affiliated companies of the seller.
There is no business relationship required to be disclosed between the Investment
Corporation/Asset Manager and the seller. In addition, there is no businessBusinessrelationship required to be disclosed between the affiliated parties and therelationshipaffiliated companies of the Investment Corporation/Asset Manager and theaffiliated parties and the affiliated companies of the seller.
Status of
The seller is a subsidiary of Daiwa Securities Group, the parent company of theclassification as
Asset Manager, and falls under the classification of related party.
related party

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

Serenite Nippombashi Prier
(1)
(2)
(3)

Company nameLocation
Title and name ofrepresentative(4)

Description ofbusiness(5)

Amount of capital(6)

Sales amount(7)

Date ofincorporation(8)

Net assets

(9)
(10)
(11)

April 1, 2019

The amount of net assets is not disclosed as consent for disclosure has not beenobtained from the seller.
The amount of total assets is not disclosed as consent for disclosure has not been
Total assets
obtained from the seller.
Major
Major shareholders are not disclosed as consent for disclosure has not beenshareholders
obtained from the seller.
Relationship between the seller and the Investment Corporation/Asset Manager
There is no capital relationship required to be disclosed between the Investment
Corporation and the seller.
However, Daiwa Securities Group, the parent company of the Asset Manager, has
Capitalconducted investment equal to the entire equity of silent partnership interest of therelationshipseller as its sole silent partner. In addition, the seller falls under the category ofinterested persons or other close affiliate of the Asset Manager as stipulated in the
Act on Investment Trusts and Investment Corporations.
There is no personnel relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there is no
Personnel
personnel relationship required to be disclosed between the affiliated parties andrelationshipthe affiliated companies of the Investment Corporation/Asset Manager and theaffiliated parties and the affiliated companies of the seller.
There is no business relationship required to be disclosed between the Investment
Corporation/Asset Manager and the seller. In addition, there is no businessBusinessrelationship required to be disclosed between the affiliated parties and therelationshipaffiliated companies of the Investment Corporation/Asset Manager and theaffiliated parties and the affiliated companies of the seller.
Status of
The seller is a subsidiary of Daiwa Securities Group, the parent company of theclassification as
Asset Manager, and falls under the classification of related party.
related party

Charm Premier Kamakurayama(1)Company name(2)
Location
Title and name of(3)
representative(4)

GK Tokyo Residential 2
1-4-1 Nihonbashi, Chuo-ku, Tokyo
Representative member, General Incorporated Association Tokyo Residential 2
Function Manager Takanori Mishina
1. Acquisition, owning, and disposition of trust beneficiary interests in real estate
as asset in trust
2. Trading, leasing, management, acquisition, owning, disposition, and use of realestate3. All operations incidental to or relating to the preceding items
JPY 400,000
The sales amount is not disclosed as consent for disclosure has not been obtained
from the seller.

Description ofbusiness

GK DA Healthcare 4
Shiroyama Trust Tower 33F, 4-3-1 Toranomon, Minato-ku, Tokyo
Representative member, Japan HC Holdings
Function Manager, Yusuke Sato
1. Trading, owning, leasing and management of real estate
2. Development, creation and sale of residential land, commercial site andindustrial site
3. Acquisition, owning, disposition and trading of real estate trust beneficiaryinterests
4. All operations incidental or relating to the preceding items

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(5)Amount of capital(6)

Sales amount(7)

Date ofincorporation(8)

Net assets

(9)
(10)
(11)

(4)

Description ofbusiness(5)

Amount of capital(6)

Sales amount(7)

Date ofincorporation(8)

Net assets

(10)
(11)

February 19, 2019

The amount of net assets is not disclosed as consent for disclosure has not beenobtained from the seller.
The amount of total assets is not disclosed as consent for disclosure has not been
Total assets
obtained from the seller.
Major
Major shareholders are not disclosed as consent for disclosure has not beenshareholders
obtained from the seller.
Relationship between the seller and the Investment Corporation/Asset Manager
There is no capital relationship required to be disclosed between the Investment
Corporation and the seller.
However, Daiwa Securities Group, the parent company of the Asset Manager, has
Capitalconducted investment equal to the entire equity of silent partnership interest of therelationshipseller as its sole silent partner. In addition, the seller falls under the category ofinterested persons or other close affiliate of the Asset Manager as stipulated in the
Act on Investment Trusts and Investment Corporations.
There is no personnel relationship required to be disclosed between theInvestment Corporation/Asset Manager and the seller. In addition, there is no
Personnel
personnel relationship required to be disclosed between the affiliated parties andrelationshipthe affiliated companies of the Investment Corporation/Asset Manager and theaffiliated parties and the affiliated companies of the seller.
In the fiscal period ended March 2021, the Investment Corporation acquired one
property from the seller. In addition, there is no business relationship required toBusinessbe disclosed between the affiliated parties and the affiliated companies of therelationship
Investment Corporation/Asset Manager and the affiliated parties and the affiliatedcompanies of the seller.
Status of
The seller is a subsidiary of Daiwa Securities Group, the parent company of theclassification as
Asset Manager, and falls under the classification of related party.
related party

As-heim Tsunashima(1)Company name(2)
Location
Title and name of(3)
representative(9)

JPY 300,000
The sales amount is not disclosed as consent for disclosure has not been obtained
from the seller.

GK DA Healthcare 8
1-1-7 Motoakasaka, Minato-ku, Tokyo
Representative member, General Incorporated Association DA Healthcare 5
Function Manager Terumitsu Nosaka
1. Trading, owning, leasing and management of real estate
2. Development, creation and sale of residential land, commercial sites andindustrial sites, etc.
3. Acquisition, owning, disposition and trading of real estate trust beneficiaryinterests
4. All operations incidental or relating to the preceding items
JPY 200,000
The sales amount is not disclosed as consent for disclosure has not been obtained
from the seller.
December 1, 2020

The amount of net assets is not disclosed as consent for disclosure has not beenobtained from the seller.
The amount of total assets is not disclosed as consent for disclosure has not been
Total assets
obtained from the seller.
Major
Major shareholders are not disclosed as consent for disclosure has not beenshareholders
obtained from the seller.
Relationship between the seller and the Investment Corporation/Asset Manager
CapitalThere is no capital relationship required to be disclosed between the Investment

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

relationship

Personnel
relationship

Businessrelationship
Status ofclassification as
related party

Corporation and the seller.
However, Daiwa Securities Group, the parent company of the Asset Manager, hasconducted investment equal to the entire equity of silent partnership interest of theseller as its sole silent partner. In addition, the seller falls under the category ofinterested persons or other close affiliate of the Asset Manager as stipulated in the
Act on Investment Trusts and Investment Corporations.
There is no personnel relationship required to be disclosed between theInvestment Corporation/Asset Manager and the seller. In addition, there is no
personnel relationship required to be disclosed between the affiliated parties andthe affiliated companies of the Investment Corporation/Asset Manager and theaffiliated parties and the affiliated companies of the seller.
There is no business relationship required to be disclosed between the Investment
Corporation/Asset Manager and the seller. In addition, there is no business
relationship required to be disclosed between the affiliated parties and theaffiliated companies of the Investment Corporation/Asset Manager and theaffiliated parties and the affiliated companies of the seller.
The seller is a subsidiary of Daiwa Securities Group., the parent company of theAsset Manager, and falls under the classification of related party.

Library Shin-Shibamata, Ishinkan Kamiooka(1)
Company nameDaiwa Facilities, Co., Ltd.
(2)
Location
1-2-1 Kyobashi, Chuo-ku, Tokyo
Title and name of(3)
President and CEO, Shinji Kawakami
representative
1. Operations related to the ownership and leasing of commercial stores,
dormitories, and other real estate of Daiwa Securities Group and its subsidiaries
and affiliated companies
2. Operations related to the maintenance, management, and repair of real estateand facilities owned by Daiwa Securities Group and its subsidiaries andaffiliated companies
3. Operations related to sale, purchase, exchange, lease, agency, and brokerage ofreal estate
4. Consulting services related to management and building management of realestate5. Brokerage and leasing of construction equipment and materials, etc.
6. Ownership, brokerage, and leasing of office assets (appliances, furniture, andIT assets), etc.
7. Real estate appraisal services
8. Operations related to Type II Financial Instruments Business9. Design, construction, supervision, and contracting of construction work
Description of(4)business
10. Consulting services related to real estate specific joint ventures
11. Consignment of the following business entrusted by Daiwa Securities Group
companies(1) Building service operation(2) Building facility maintenance and operation(3) IT facility maintenance and operation(4) General administration
12. Contracting and brokerage of general cleaning, repair, maintenance, anddisinfection of buildings and structures, etc.
13. Sales of equipment and materials used in the operations described in thepreceding item
14. Fee billing and collection agency services
15. Help desk, in-building logistics, and other building operations management for
managed buildings
16. Operation and maintenance services for computers and peripheral equipment
17. Information processing services and information provision services
Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(5)Amount of capital(6)

Sales amount(7)

Date ofincorporation(8)

Net assets

(9)
(10)
(11)

18. Sales of the following products(1) Office supplies, office equipment, and measuring instruments(2) Building materials, room furnishings, and air-conditioning equipment(3) Foodstuffs, clothing, medical instruments and quasi-drugs, ornaments,and other daily commodities and sundries(4) Books(5) Lighting equipment(6) Optical instruments and apparatus(7) Computers and peripheral equipment(8) Household electrical appliances and office automation equipment(9) Software
19. Purchase, resale and consignment sale of office furniture and equipment
20. First-class freight forwarding business21. Non-life insurance agency and life insurance solicitation business
22. Purchase and sale of golf club memberships, solicitation, brokerage andconsulting services
23. All operations incidental or relating to the preceding items
JPY 100 million
The sales amount is not disclosed as consent for disclosure has not been obtained
from the seller.
November 29, 2019

The amount of net assets is not disclosed as consent for disclosure has not beenobtained from the seller.
The amount of total assets is not disclosed as consent for disclosure has not been
Total assets
obtained from the seller.
Major
Major shareholders are not disclosed as consent for disclosure has not beenshareholders
obtained from the seller.
Relationship between the seller and the Investment Corporation/Asset Manager
There is no capital relationship required to be disclosed between the Investment
Corporation/Asset Manager and the seller.
CapitalHowever, Daiwa Securities Group, the parent company of the Asset Manager isrelationshipthe 100% parent company of the seller. In addition, the seller falls under the
category of interested persons or other close affiliate of the Asset Manager as
stipulated in the Act on Investment Trusts and Investment Corporations.
There is no personnel relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there is no
Personnel
personnel relationship required to be disclosed between the affiliated parties andrelationshipthe affiliated companies of the Investment Corporation/Asset Manager and theaffiliated parties and the affiliated companies of the operator.
The seller has entered into a basic warehousing, etc. agreement with the AssetBusiness
Manager and the seller provides warehousing functions and other cooperation in
relationshipthe bridge scheme. In the fiscal period ended March 2021, the Investment
Corporation acquired one property from the seller.
Status of
The operator is a subsidiary of Daiwa Securities Group, the parent company ofclassification as
the Asset Manager, and falls under the classification of related party.
related party

V. Profile of the Property Seller
The sellers of the respective Assets to Be Acquired are special purpose companies in which Daiwa Securities Group, theparent company of the Asset Manager, has conducted investment equal to the entire equity of silent partnership interest, orcompanies wholly owned by Daiwa Securities Group, and each of them is a subsidiary of Daiwa Securities Group. Each of thesellers falls under the category of interested persons or other close affiliate as stipulated in the Investment Trusts Act andunder Interested Parties pursuant to the “Rules on Prevention of Conflicts of Interest,” an internal rule of the Asset Manager.
Thus, the Asset Manager proceeded with procedures to reach a decision as stipulated in the Rules on Prevention of Conflictsof Interest in making transactions with the sellers to acquire the respective Assets to Be Acquired, in addition to ensuring thatthe scheduled acquisition price was equal to or lower than the appraisal value.
Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

The following table indicates (1) Company name, (2) Relationship with party having special relationship of interest, (3)History/reason, etc. for acquisition, (4) Acquisition price, (5) Date of acquisition, and (6) Estimated warehousing fees to be
paid by the Investment Corporation to the previous owner (Note 1).
Property nameSplendide Shin-Osaka
SOUTH

Previous owner(1) GK Tokyo Residential 4
Company in which parent company of Asset(2)
Manager conducts silent partnership investment(3) Acquired for the purpose of investment management

Earlier previous
owner
Not a party having
special relationshipof interest(4) 4,310 million yen(5) April 2021
(6) 160 million yen(1) GK Tokyo Residential 2
Company in which parent company of AssetManager conducts silent partnership investment(3) Acquired for the purpose of investment management(2)

Serenite Nippombashi
Prier

Not a party having
special relationshipof interest(4) 2,606 million yen(5) February 2021
(6) 24 million yen

Charm Premier
Kamakurayama

As-heim Tsunashima(1) GK DA Healthcare 4
Company in which parent company of Asset(2)
Manager conducts silent partnership investment(3) Acquired for the purpose of investment management
This information is omitted because the owner has(4)owned the property for more than one year.
(5) September 2020
This information is omitted because the owner has(6)
owned the property for more than one year.
(1) GK DA Healthcare 8
Company in which parent company of Asset(2)
Manager conducts silent partnership investment(3) Acquired for the purpose of investment management

Not a party having
special relationshipof interest

Not a party having
special relationshipof interest(4) 1,500 million yen(5) May 2021
(6) 23 million yen(1) Daiwa Facilities, Co., Ltd.
(2) Subsidiary of parent company of the Asset Manager

Not a party having
special relationshipof interest(3) Acquired for the purpose of investment management
Library Shin-Shibamata

Ishinkan Kamiooka

This information is omitted because the owner has
owned the property for more than one year.
(5) September 2020
This information is omitted because the owner has(6)
owned the property for more than one year.
(1) Daiwa Facilities, Co., Ltd.
(4)(2) Subsidiary of parent company of the Asset Manager

Not a party having
special relationshipof interest

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(3) Acquired for the purpose of investment management
This information is omitted because the owner has(4)owned the property for more than one year.
(5) September 2020
This information is omitted because the owner has(6)
owned the property for more than one year.

(Note 1) The warehousing fees indicated are expenses such as brokerage fees scheduled to be paid by the Investment Corporation to theprevious owner apart from the sale and purchase price in the acquisition of each property. Furthermore, as the warehousing fees will
be determined following a final agreement with the previous owner, the amounts are not determined at the present time.
(Note 2) Each of the Assets to Be Acquired will be acquired from a bridge fund aiming to own the properties temporarily with an aim totransfer them to the Investment Corporation utilizing the bridge scheme of the sponsor. Therefore, the holding period by the previous
owner may be short depending on the date of acquisition by the previous owner, which is the bridge fund, etc.

VI. Details of Operators of Healthcare Facilities
Charm Premier Kamakurayama(1)Company name(2)
Location
Title and name of(3)
representative(4)

Description ofbusiness

K.K. Charm Care Corporation
3-6-32, Nakanoshima, Kita-ku, Osaka city, Osaka
Representative Director, Takahiko Shimomura
1. In-home care service and preventive care service based on the Long-TermCare Insurance Act
2. In-home care support business and care prevention support businessbased on the Long-Term Care Insurance Act
3. Community-based services and community-based care prevention
services based on the Long-Term Care Insurance Act
4. Home nursing services based on the Health Insurance Act
5. Installation management of fee-based assisted-living homes for theelderly and elderly housing with supportive services
6. Disability welfare services based on the Act on the Comprehensive
Support for the Daily and Social Life of Persons with Disabilities
7. Services related to nursing care and support for independence for theelderly and physically disabled
8. Functional recovery training and consulting for the elderly and physicallydisabled
9. Food service business10. Food service and food service management business
11. Worker dispatch business based on the Act on Securing the Proper
Operation of Worker Dispatching Businesses and Protecting Dispatched
Workers
12. Sales and rental of clothing, daily necessities, ornaments, foodstuffs,
medical equipment, welfare equipment, nursing care products, andnursing care equipment, etc.
13. Training and counseling services for the development of human resources
based on the Long-Term Care Insurance Act
14. Consulting services related to the overall nursing care business15. Sale, purchase, lease, brokerage and management of real estate
16. Consulting business related to the real estate business in general
17. Provision of in-home nursing care and life support services not coveredby long-term care insurance
18. Business in No. 1 based on the Long-Term Care Insurance Act
19. Travel agency business
20. Non-life insurance agency and life insurance solicitation business
21. Building construction business22. Repair and renovation of buildings
23. Laundry, cleaning agency, and linen supply business
24. Leasing business25. Operation of nursery schools and day care centers, etc.
26. Sale and purchase of antiques

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(5)
(6)
(7)
(8)
(9)
(10)
(11)

27. Development, operation, maintenance, and sales of systems and software
28. Fee-charging job placement business
29. Janitorial services and brokerage of janitorial services
30. Restaurant business
31. Wedding and funeral services
32. Traditional Japanese inns and hotels
33. Housekeeping assistance services at residences, etc.
34. All businesses incidental and related to the above
JPY 2,759.25 million
Not disclosed as consent for disclosure has not been obtained.
August 22, 1984

Amount of capital
Sales amount
Date of incorporation
Attribute (listed
Listed on the First Section of the Tokyo Stock Exchange
market)Number of facilities
64 facilities
operated (Note 1)
Number of resident
rooms operated (Note4,288 rooms
1)
Relationship between the operator and the Investment Corporation/Asset Manager
There is no capital relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there
is no capital relationship required to be disclosed between the affiliatedCapital relationshipparties and the affiliated companies of the Investment Corporation/AssetManager and the affiliated parties and the affiliated companies of theoperator.
There is no personnel relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there
is no personnel relationship required to be disclosed between the affiliated
Personnel relationshipparties and the affiliated companies of the Investment Corporation/AssetManager and the affiliated parties and the affiliated companies of theoperator.
The operator is a lessee and operator of the Investment Corporation’s assets
under management, and has concluded a backup operator agreement with
the Investment Corporation. There is no business relationship required to bedisclosed between the Asset Manager and the operator. In addition, there isBusiness relationshipno business relationship required to be disclosed between the affiliatedparties and the affiliated companies of the Investment Corporation/AssetManager and the affiliated parties and the affiliated companies of theoperator.
The operator does not fall under the classification of related party of the
Status of classification Investment Corporation/Asset Manager. In addition, the affiliated parties
as related party
and the affiliated companies of the operator do not fall under theclassification of related party of the Investment Corporation/Asset Manager.

As-heim Tsunashima(1)Company name(2)
Location
Title and name of(3)
representative(4)

Description of business

As Partners Co., Ltd.
2-2, Kanda-Surugadai, Chiyoda-ku, Tokyo
Representative Director, Kenji Uemura
1. Businesses based on daily long-term care for those admitted to a specified
facility, communal daily long-term care for dementia patients, short-term
admission for daily life long-term care, outpatient rehabilitation,
outpatient long-term day care, guidance for management of in-homemedical long-term care, etc. based on the Long-Term Care Insurance Act
2. Businesses based on daily long-term care for those admitted to a specified
facility for prevention, short-term admission for daily life long-term carefor prevention, outpatient rehabilitation for prevention, outpatient day
long-term care for prevention, guidance for management of in-home

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(5)
(6)
(7)
(8)
(9)
(10)

Amount of capital
Sales amount
Date of incorporation
Attribute(listed market)
Number of facilities
operated (Note 1)
Number of resident
rooms operated (Note1)

medical long-term care for prevention, No. 1 day-care center business,
etc. in comprehensive nursing care prevention and daily life support
business based on the Long-Term Care Insurance Act
3. In-home service visits, home-visit long-term care, home-visit nursing
care, and rental of welfare equipment, etc. services based on the LongTerm Care Insurance Act
4. Home-visit long-term care for prevention, home-visit nursing long-termcare for prevention, rental of welfare equipment for long-term care forprevention, No. 1 day-care center business, etc. in comprehensive nursing
care prevention and daily life support business based on the Long-TermCare Insurance Act
5. In-home long-term care support business based on the Long-Term Care
Insurance Act
6. Operation and management of each office related to items 1 through 5above
7. Consulting and mediation business for operation, facilities, maintenance,
etc. related to items 1 through 6 above
8. Management of culture schools and business related to human resource
development and education and training
9. Worker dispatch business and fee-charging employment placementbusiness
10. Outsourcing, provision of services, and sales of operations related tofacility management, such as hairdressing, daily commodities, andnursing-care hygiene products
11. Planning and organization of various events
12. General travel brokerage business13. Food service, food service management, and food delivery service
business
14. Construction and supervision of architectural design, civil engineering
work, and facility construction
15. Consulting and brokerage services for architectural design and civilengineering work
16. Business related to the manufacture, sale, import, export, and lease of
medical equipment and nursing care equipment
17. Business related to the nursing care service business and its consulting,customer consultation, introduction, and brokerage
18. Buying and selling, brokerage, consulting, leasing and management ofreal estate
19. Management and consulting of fee-based home for the elderly and rental
housing for the elderly
20. Home-visit care services, housekeeping services, hotel stays, and otherservices not covered by long-term care insurance
21. Management, leasing and administration of lodging facilities such as
hotels and traditional Japanese inns
22. Management of coin-operated laundries and sales, leasing, and rental ofequipment related to coin-operated laundries
23. Management of convenience stores
24. All business incidental and related to the preceding items
40 million yen
Not disclosed as consent for disclosure has not been obtained.
November 2, 2004
Unlisted
22 facilities
1,421 rooms

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(11)Relationship between the operator and the Investment Corporation/Asset Manager
There is no capital relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there
is no capital relationship required to be disclosed between the affiliatedCapital relationshipparties and the affiliated companies of the Investment Corporation/AssetManager and the affiliated parties and the affiliated companies of theoperator.
There is no personnel relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there
is no personnel relationship required to be disclosed between the affiliated
Personnel relationshipparties and the affiliated companies of the Investment Corporation/AssetManager and the affiliated parties and the affiliated companies of theoperator.
There is no business relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there
is no business relationship required to be disclosed between the affiliatedBusiness relationshipparties and the affiliated companies of the Investment Corporation/AssetManager and the affiliated parties and the affiliated companies of theoperator.
The operator does not fall under the classification of related party of the
Status of classification Investment Corporation/Asset Manager. In addition, the affiliated parties
and the affiliated companies of the operator do not fall under theas related party
classification of related party of the Investment Corporation/Asset Manager.

Library Shin-Shibamata(1)Company name(2)
Location
Title and name of(3)
representative(4)

Description of business

Living Platform, Ltd.
Minami 2-jo Nishi 20-chome, 291, Chuo-ku, Sapporo city
Representative Director, Hirofumi Kaneko
1. Medical, nursing care, and welfare services
2. In-home, long-term care support business based on the Long-Term Care
Insurance Act
3. In-home service businesses based on the Long-Term Care Insurance Act
4. Community-based care prevention service businesses based on the LongTerm Care Insurance Act
5. Community-based service businesses based on the Long-Term Care
Insurance Act
6. Community-based care prevention service business based on the LongTerm Care Insurance Act
7. Care prevention support service business based on Long-Term Care
Insurance Act
8. Comprehensive nursing care prevention and daily life support businessbased on the Long-Term Care Insurance Act
9. Fee-based home for the elderly business based on the Long-Term Care
Insurance Act
10. Elderly housing with supportive services business based on the Act on
Securement of Stable Supply of Elderly Persons' Housing
11. Disability welfare services business based on the Act on theComprehensive Support for the Daily and Social Life of Persons with
Disabilities
12. Transportation support business based on the Act on the Prevention of
Abuse of Persons with Disabilities and Support for Caregivers
13. Specified consultation support business based on the Act on thePrevention of Abuse of Persons with Disabilities and Support for
Caregivers
14. General consultation support business based on the Act on the Preventionof Abuse of Persons with Disabilities and Support for Caregivers
15. Day-care support services for disabled children based on the Child

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(5)
(6)
(7)
(8)
(9)
(10)
(11)

Welfare Act
16. Consultation support services for disabled children based on the Child
Welfare Act
17. Day-care center services based on the Child Welfare Act
18. Employee training, supervision, and management services incidental tothe above, and facility management services on consignment
19. Sale, purchase, lease, brokerage, management of real estate
20. Establishment and operation of hotels, stores, restaurants, and otherlodging facilities
21. Research, analysis, and consulting services related to overallmanagement
22. Worker dispatch business23. Fee-charging job placement business
24. Training and education services for caregivers, etc.
25. All operations incidental to the preceding items
JPY 357.07 million yen
Not disclosed as consent for disclosure has not been obtained.
June 28, 2011

Amount of capital
Sales amount
Date of incorporation
Attribute
Listed on the Tokyo Stock Exchange Mothers(listed market)
Number of facilities
52 facilities
operated (Note 1)
Number of resident
rooms operated (Note2,347 rooms
1)
Relationship between the operator and the Investment Corporation/Asset Manager
There is no capital relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there
is no capital relationship required to be disclosed between the affiliatedCapital relationshipparties and the affiliated companies of the Investment Corporation/AssetManager and the affiliated parties and the affiliated companies of theoperator.
There is no personnel relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there
is no personnel relationship required to be disclosed between the affiliated
Personnel relationshipparties and the affiliated companies of the Investment Corporation/AssetManager and the affiliated parties and the affiliated companies of theoperator.
There is no business relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there
is no business relationship required to be disclosed between the affiliatedBusiness relationshipparties and the affiliated companies of the Investment Corporation/AssetManager and the affiliated parties and the affiliated companies of theoperator.
The operator does not fall under the classification of related party of the
Status of classification Investment Corporation/Asset Manager. In addition, the affiliated parties
as related party
and the affiliated companies of the operator do not fall under theclassification of related party of the Investment Corporation/Asset Manager.

Ishinkan Kamiooka(1)
Company name(2)
Location
Title and name of(3)
representative(4)

Description of business

Amvis Co., Ltd.
2-7-2 Yaesu, Chuo-ku, Tokyo
Representative Director, Keiichi Shibahara
1. Fee-based home for the elderly business, elderly housing with supportive
services business, care house business, senior housing business, medical
specialized home facility business, home hospice businessNote: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

2. Operation and management of facilities engaged in the above businesses
3. (1) In-home, long-term care support business based on theLong-Term Care Insurance Act(2) The following in-home service businesses based on the Long-TermCare Insurance Act(1) Home-visit care(2) Home-visit bathing care(3) Home-visit nursing(4) Outpatient day long-term care(5) Short-term admission for daily life long-term care(6) Daily long-term care for those admitted to a specified facility(7) Rental of welfare equipment(8) Sale of specified welfare equipment(9) Guidance for management of in-home medical long-term care(3) The following community-based service businesses based on theLong-Term Care Insurance Act(1) Nighttime visit care(2) Daily long-term care for dementia patients(3) Small-scale multifunctional in-home care(4) Communal daily long-term care for dementia patients(5) Daily long-term care for admission to a community-based
specified facility(4) Community-based care prevention service businesses based on theLong-Term Care Insurance Act(1) Home-visit long-term care for prevention(2) Home-visit bathing long-term care for prevention(3) Home-visit nursing long-term care for prevention(4) Outpatient day long-term care for prevention(5) Short-term admission for daily life long-term care for prevention(6) Daily long-term care for admission to a specified facility forprevention(7) Rental of welfare equipment for long-term care for prevention(8) Sale of specified welfare equipment for long-term care forprevention(9) Guidance for management of in-home medical long-term care forprevention(5) Community-based care prevention services based on the Long-TermCare Insurance Act(6) Following community-based prevention service business based on
the Long-Term Care Insurance Act(1) Daily long-term care for dementia patients for prevention(2) Small-scale multifunctional in-home care for prevention(3) Communal daily long-term care for dementia patients forprevention(7) Community-based businesses based on the Long-Term Care
Insurance Act(8) In-home care home repair business(9) Comprehensive nursing care prevention and daily life support
business based on the Long-Term Care Insurance Act(1) General care prevention business(2) Prevention and daily life support service business
4. Home nursing services based on the Health Insurance Act
5. Provision of in-home support services not covered by the Long-TermCare Insurance Act
6. Consulting business related to the operation of nursing care businesses
7. Support services for elderly people to prevent decline of their physicalfunctions
8. Consultation support business based on the Act on the Comprehensive
Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

Support for the Daily and Social Life of Persons with Disabilities
9. Transportation support business based on the Act on the Prevention of
Abuse of Persons with Disabilities and Support for Caregivers
10. Disability welfare services business based on the Act on the Preventionof Abuse of Persons with Disabilities and Support for Caregivers business
11. Vocational guidance or job mediation for persons with physicaldisabilities
12. Other community life support business based on the Act on thePrevention of Abuse of Persons with Disabilities and Support for
Caregivers
13. Home help service business for patients with intractable disease
14. Day-care support services for disabled children based on the Child
Welfare Act
15. Consultation support services for disabled children based on the Child
Welfare Act
16. Goods purchase and housekeeping service
17. Sales and delivery of foodstuffs, soft drinks, clothing, daily sundries,
pharmaceuticals, quasi-drugs, nursery products, childcare products,
housing equipment, kitchen equipment; and sales, delivery, rental,
leasing, and import/export of medical equipment, medical devices,
welfare equipment, nursing care products, medical supplies, hygiene
products, rehabilitation equipment, exercise equipment, and sportinggoods
18. Education, training, and information exchange services related to welfare
and nursing care
19. Nursing care insurance billing agency business
20. Welfare-paid transportation business based on the Road Transportation
Act
21. Childcare services for school children
22. General and specific dispatching business based on the Act on Securing
the Proper Operation of Worker Dispatching Businesses and Protecting
Dispatched Workers
23. Provision of information on and mediation for nursing homes and elderly
housing
24. Research, planning, and guidance regarding the establishment of medical
and nursing care facilities
25. General affairs, accounting, and other clerical services
26. Management and operation of hospitals and medical facilities
27. Introduction of medical and nursing care professionals
28. Various information provision services using the Internet
29. Planning and production of advertising and corporate sales promotion
activities, and advertising agency business
30. Search and provision of medical information
31. Brokerage, mediation, and advisory services related to M&As
32. General passenger automobile transportation business
33. Worker dispatch business and fee-charging employment placementbusiness
34. Buying, selling, managing, and leasing of real estate, and brokerage
services
35. Publication of information magazines related to each of the preceding
items
36. Consulting business related to each of the preceding items
37. All business incidental and related to the preceding items
(5)
(6)
(7)
(8)

Amount of capital
Sales amount
Date of incorporation
Attribute

JPY 10 million
Not disclosed as consent for disclosure has not been obtained.
September 11, 2013
Group company of a listed company (Note 2)

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(9)
(10)
(11)

(listed market)
Number of facilities
41 facilities
operated (Note 1)
Number of resident
rooms operated (Note1,977 rooms
1)
Relationship between the operator and the Investment Corporation/Asset Manager
There is no capital relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there
is no capital relationship required to be disclosed between the affiliatedCapital relationshipparties and the affiliated companies of the Investment Corporation/AssetManager and the affiliated parties and the affiliated companies of theoperator.
There is no personnel relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there
is no personnel relationship required to be disclosed between the affiliated
Personnel relationshipparties and the affiliated companies of the Investment Corporation/AssetManager and the affiliated parties and the affiliated companies of theoperator.
There is no business relationship required to be disclosed between theInvestment Corporation/Asset Manager and the operator. In addition, there
is no business relationship required to be disclosed between the affiliatedBusiness relationshipparties and the affiliated companies of the Investment Corporation/AssetManager and the affiliated parties and the affiliated companies of theoperator.
The operator does not fall under the classification of related party of the
Status of classification Investment Corporation/Asset Manager. In addition, the affiliated parties
as related party
and the affiliated companies of the operator do not fall under theclassification of related party of the Investment Corporation/Asset Manager.

(Note 1) “Number of facilities operated and number of resident rooms operated” indicate number of facilities and resident rooms of fee-based
homes for the elderly, group homes and elderly housing with supportive services, whose information was obtained from theoperator’s website and by interviewing the operator (as of July 31, 2021).
(Note 2) The operator of Ishinkan Kamiooka, Amvis Co., Ltd., is a subsidiary of Amvis Holdings, Inc., which is listed on the JASDAQ(Standard) market of the Tokyo Stock Exchange.

VII. Funds for Acquisition
Funds are scheduled to be allotted from the proceeds from the issuance of new investment units by way of public offering
indicated in “Notice Concerning Issuance of New Investment Units and Secondary Offering” separately announced today,
borrowings indicated in “Notice Concerning Borrowing of Funds and Early Repayment of Loans” separately announced today,and cash on hand.
VIII. Acquisition Schedule・ Decision on acquisition and conclusion of purchase agreement: September 10, 2021
・ Payment and delivery: October 1, 2021
Ⅸ. Payment Method, Etc.
Lump-sum payment at the time of transaction.
Ⅹ. Future Prospects
Please refer to “Notice Concerning Revision of Forecasts of Operating Results and Distribution for the Fiscal Period Ending
March 2022 (32nd Fiscal Period) and Forecasts of Operating Results and Distribution for the Fiscal Period Ending September
2022 (33rd Fiscal Period)” separately announced today for the impact of the acquisition on the prospects for the operating results
and distributions.

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

Ⅺ. Summary of Appraisal Report
Property nameAppraisal value
Appraiser
Date of appraisal

Splendide Shin-Osaka SOUTH
4,500,000,000 yen
Tanizawa Sogo Appraisal Co., Ltd.
Date: August 1, 2021

Item

Details(JPY
thousand)

4,500,000(JPY
thousand)

4,530,000(JPY
thousand)

230,560

Rental revenue includingcommon service fees

(JPY
thousand)

227,758

Parking fees

(JPY
thousand)

5,807

Other revenue(JPY
thousand)

4,723

Value indicated by income approach
Value indicated by the direct capitalization
method(1) Total Operating Income: (a) – (b)

(a)

(b)

Losses from vacancies
Bad debt losses(2) Total Operating Expenses(JPY
thousand)(JPY
thousand)(JPY
thousand)7,729
040,722

Operation costs(JPY
thousand)

3,236

Utilities(JPY
thousand)

1,874

Repairs and maintenanceexpense(JPY
thousand)

5,337

Property management fees

(JPY
thousand)

4,065

Tenant promotion fees, etc.

(JPY
thousand)

4,633

Taxes and public dues

(JPY
thousand)

16,647

Nonlife insurance(JPY
thousand)

546

Outline, etc.
Assessed by using the standardized net income value using the DCF
method and by conducting verification from the net income value using
the direct capitalization method
Assessed by capitalizing the standardized net income, which isrecognized to be stable over the medium to long term, with thecapitalization yield－
Rental revenue: Revenue that can be earned on an ordinary basis byleasing or contracting the operation of all or part of the subject property(assuming full occupancy)
Common service fee revenue: Among the expenses required on arecurring basis for the maintenance, management, and operation of thesubject property, revenue collected through contracts with lessees
related to common areas (assuming full occupancy)
Income generated by leasing the parking lot attached to the subject
property to tenants, etc. and income generated by renting the parking lot
by the hour (assuming the lot is full)
Other revenue such as signage fees, facility installation fees such as
bicycle parking lot registration fees, and non-refundable lump-sum
payments such as key money and renewal fees
Decrease in each income based on the projected occurrence of vacancy
and replacement period, etc.
Decrease in each income based on the projected occurrence of bad debt－
Expenses required on a recurring basis for the maintenance andmanagement of the subject property, including building and facility
management, security, cleaning, etc.
Expenses required for electricity, water, gas, district heating and coolingheat source, etc. in the operation of the subject property
Of the amount paid for repair or improvement of buildings, facilities, etc.
related to the subject property, the cost required for ordinary maintenanceand management of the said buildings, facilities, etc. or to restore thepartially damaged buildings, facilities, etc. to their original state.
Expenses for the management of the subject property
Expenses required for intermediary services and advertising, etc. whenrecruiting new tenants, as well as expenses required for the renewal oftenant lease contracts and re-signing of lease contracts.
Property tax (land, buildings, depreciable assets), city planning tax (landand buildings)
Charges for fire insurance for the subject property and attached facilities,
liability insurance to cover damage to third parties, etc. due to defects or
accidents in the management of the subject property, etc.

JPY
thousand(JPY
thousand)(JPY
thousand)

189,838
245

Investment income is recorded assuming an investment yield of 1.0%.

(5) Capital Expenditure(JPY
thousand)

4,200(6) Net Cash Flow (NCF): (3) + (4) – (5)(JPY
thousand)Expenses for repair or improvement of buildings, facilities, etc. related tothe subject property that are recognized to increase the value of the saidbuildings, facilities, etc. or increase their durability

185,883－

Other expenses(3) Net Operating Income (NOI): (1) –(2)(4) Lump-Sum Investment Return(7) Capitalization Rate

(%)

4,380

4.1

Other expenses such as Internet usage fees－

Assessed by comprehensively considering the subject property's
location, building conditions, and contract conditions.

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

Value indicated by DCF method(JPY
thousand)

4,480,000

Discount rate

(%)

4.2

Terminal capitalization rate

(%)

4.3

Value indicated by cost approach
Land ratio
Property ratio(JPY
thousand)(%)(%)

Other items of note by appraiser

－

64.0
36.0

－
－

None

Serenite Nippombashi Prier
2,750,000,000 yen
Tanizawa Sogo Appraisal Co., Ltd.
Date: August 1, 2021

Item

Details(JPY
thousand)

2,750,000(JPY
thousand)

2,780,000(JPY
thousand)

141,298

Rental revenue includingcommon service fees

(JPY
thousand)

134,618

Parking fees

(JPY
thousand)

7,951

Other revenue(JPY
thousand)

2,833

Value indicated by the direct capitalization
method(1) Total Operating Income: (a) – (b)

(a)

(b)

Losses from vacancies
Bad debt losses(2) Total Operating Expenses

Assessed by comparing with transaction examples of similar properties
and by adding the individual characteristics of the property to the yieldof the financial assets.
Assessed by taking into account the nature of the net income employed
for the capitalization yield, future uncertainty, liquidity, marketability,etc.

4,140,000

Name of property
Appraisal value
Appraiser
Date of appraisal
Value indicated by income approach－(JPY
thousand)(JPY
thousand)(JPY
thousand)

4,104
0
28,499Operation costs(JPY
thousand)

3,240

Utilities(JPY
thousand)

1,259

Repairs and maintenanceexpense(JPY
thousand)

3,715

Property management fees

(JPY
thousand)

3,190

Tenant promotion fees, etc.

(JPY
thousand)

2,881

Taxes and public dues

(JPY
thousand)

11,423Outline, etc.
Assessed by using the standardized net income value using the DCF
method and by conducting verification from the net income value using
the direct capitalization method
Assessed by capitalizing the standardized net income, which isrecognized to be stable over the medium to long term, with thecapitalization yield－
Rental revenue: Revenue that can be earned on an ordinary basis byleasing or contracting the operation of all or part of the subject property(assuming full occupancy)
Common service fee revenue: Among the expenses required on arecurring basis for the maintenance, management, and operation of thesubject property, revenue collected through contracts with lessees
related to common areas (assuming full occupancy)
Income generated by leasing the parking lot attached to the subject
property to tenants, etc. and income generated by renting the parking
lot by the hour (assuming the lot is full)
Other revenue such as signage fees, facility installation fees such as
bicycle parking lot registration fees, and non-refundable lump-sum
payments such as key money and renewal fees
Decrease in each income based on the projected occurrence of vacancy
and replacement period, etc.
Decrease in each income based on the projected occurrence of bad debt－
Expenses required on a recurring basis for the maintenance andmanagement of the subject property, including building and facility
management, security, cleaning, etc.
Expenses required for electricity, water, gas, district heating and coolingheat source, etc. in the operation of the subject property
Of the amount paid for repair or improvement of buildings, facilities,
etc. related to the subject property, the cost required for ordinary
maintenance and management of the said buildings, facilities, etc. or to
restore the partially damaged buildings, facilities, etc. to their originalstate.
Expenses for the management of the subject property
Expenses required for intermediary services and advertising, etc. whenrecruiting new tenants, as well as expenses required for the renewal oftenant lease contracts and re-signing of lease contracts.
Property tax (land, buildings, depreciable assets), city planning tax (landand buildings)

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

Nonlife insurance(JPY
thousand)387

Charges for fire insurance for the subject property and attached facilities,
liability insurance to cover damage to third parties, etc. due to defects or
accidents in the management of the subject property, etc.

JPY
thousand(JPY
thousand)(JPY
thousand)

112,799
98

Investment income is recorded assuming an investment yield of 1.0%.

(5) Capital Expenditure(JPY
thousand)

1,605(6) Net Cash Flow (NCF): (3) + (4) – (5)(JPY
thousand)Expenses for repair or improvement of buildings, facilities, etc. related
to the subject property that are recognized to increase the value of thesaid buildings, facilities, etc. or increase their durability

111,292－

Other expenses(3) Net Operating Income (NOI): (1) –(2)(4) Lump-Sum Investment Return(7) Capitalization Rate(%)

Value indicated by DCF method(JPY
thousand)

2,402

4.0

(%)

4.1

Terminal capitalization rate

(%)

4.2

Land ratio
Property ratio(JPY
thousand)(%)(%)

Other items of note by appraiser－

Assessed by comprehensively considering the subject property's
location, building conditions, and contract conditions.

2,730,000

Discount rate

Value indicated by cost approach

Other expenses such as Internet usage fees－
Assessed by comparing with transaction examples of similar properties
and by adding the individual characteristics of the property to the yieldof the financial assets.
Assessed by taking into account the nature of the net income employed
for the capitalization yield, future uncertainty, liquidity, marketability,etc.

2,860,000

－

61.2
38.8

－
－

None

Property nameAppraisal value
Appraiser
Date of appraisal

Charm Premier Kamakurayama
2,630,000,000 yen
Tanizawa Sogo Appraisal Co., Ltd.
Date: August 1, 2021

Item

Details

Value indicated by income approach
Value indicated by the direct capitalization
method(1) Operating Income
Gross potential income
Losses from vacancies(2) Operating Expenses
Operation costs
Utilities
Repairs and maintenanceexpenseProperty management fees
Tenant promotion fees, etc.
Taxes and public dues
Nonlife insurance(JPY
thousand)

2,630,000(JPY
thousand)

2,640,000(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)

Outline, etc.
Assessed by using the standardized net income value using the DCF
method and by conducting verification from the net income value using
the direct capitalization method
Assessed by capitalizing the standardized net income, which isrecognized to be stable over the medium to long term, with thecapitalization yield

Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed(Note)

Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

Other expenses(3) Net Operating Income (NOI): (1) –(2)(4) Lump-Sum Investment Return(5) Capital Expenditure(6) Net Cash Flow (NCF): (3) + (4) – (5)JPY
thousand(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)

Undisclosed
117,374
879

Investment income is recorded assuming an investment yield of 1.0%.

1,900

Assessed by allocating the figures based on ER and similar cases to“Repairs and maintenance expense 3: Capital Expenditures 7.”

116,353－

4.4(7) Capitalization Rate(%)

Value indicated by DCF method(JPY
thousand)

2,620,000

Discount rate(%)

4.4/4.5

Terminal capitalization rate

(%)

4.6

Value indicated by cost approach
Land ratio
Property ratio(JPY
thousand)
(%)
(%)

－

Assessed by comprehensively considering the subject property's
location, building conditions, and contract conditions.
－
Assessed by comparing with transaction examples of similar properties
and by adding the individual characteristics of the property to the yieldof the financial assets.
Assessed by taking into account the nature of the net income employed
for the capitalization yield, future uncertainty, liquidity, marketability,etc.

3,040,000

－

65.9
34.1

－
－

Other items of note by appraiser
None(Note) The figures are not disclosed as the Asset Manager judged that the disclosure of these might negatively impact the competitiveness of theInvestment Corporation and harm unitholder interest as the appraisal uses figures based on actual results as reference.

Property nameAppraisal value
Appraiser
Date of appraisal

As-heim Tsunashima
1,610,000,000 yen
Tanizawa Sogo Appraisal Co., Ltd.
Date: August 1, 2021

Item

Details

Value indicated by income approach
Value indicated by the direct capitalization
method(1) Operating Income
Gross potential income
Losses from vacancies(2) Operating Expenses
Operation costs
Utilities
Repairs and maintenanceexpenseProperty management fees
Tenant promotion fees, etc.
Taxes and public dues
Nonlife insurance
Other expenses(JPY
thousand)

1,610,000(JPY
thousand)

1,620,000(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)

Outline, etc.
Assessed by using the standardized net income value using the DCF
method and by conducting verification from the net income value using
the direct capitalization method
Assessed by capitalizing the standardized net income, which isrecognized to be stable over the medium to long term, with thecapitalization yield

Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed(Note)

Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(3) Net Operating Income (NOI): (1) –(2)(4) Lump-Sum Investment Return(5) Capital Expenditure(6) Net Cash Flow (NCF): (3) + (4) – (5)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)

69,251－

196

Investment income is recorded assuming an investment yield of 1.0%.

1,320

Assessed by allocating the figures based on ER and similar cases to“Repairs and maintenance expense 3: Capital Expenditures 7.”

68,128－(7) Capitalization Rate(%)

Value indicated by DCF method(JPY
thousand)

1,600,000

Discount rate(%)

4.2/4.3

Terminal capitalization rate

(%)

4.4

Value indicated by cost approach
Land ratio
Property ratio(JPY
thousand)
(%)
(%)

4.2

Assessed by comprehensively considering the subject property's
location, building conditions, and contract conditions.
－
Assessed by comparing with transaction examples of similar properties
and by adding the individual characteristics of the property to the yieldof the financial assets.
Assessed by taking into account the nature of the net income employed
for the capitalization yield, future uncertainty, liquidity, marketability,etc.

1,870,000

－

59.0
41.0

－
－

Other items of note by appraiser
None(Note) The figures are not disclosed as the Asset Manager judged that the disclosure of these might negatively impact the competitiveness of theInvestment Corporation and harm unitholder interest as the appraisal uses figures based on actual results as reference.

Property nameAppraisal value
Appraiser
Date of appraisal

Library Shin-Shibamata
1,470,000,000 yen
Tanizawa Sogo Appraisal Co., Ltd.
Date: August 1, 2021

Item

Details

Value indicated by income approach
Value indicated by the direct capitalization
method(1) Operating Income
Gross potential income
Losses from vacancies(2) Operating Expenses
Operation costs
Utilities
Repairs and maintenanceexpenseProperty management fees
Tenant promotion fees, etc.
Taxes and public dues
Nonlife insurance
Other expenses(3) Net Operating Income (NOI): (1) –
(2)

(JPY
thousand)

1,470,000(JPY
thousand)

1,490,000(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)
JPY
thousand(JPY
thousand)

Outline, etc.
Assessed by using the standardized net income value using the DCF
method and by conducting verification from the net income value using
the direct capitalization method
Assessed by capitalizing the standardized net income, which isrecognized to be stable over the medium to long term, with thecapitalization yield

Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed(Note)

Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed
63,345－

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(4) Lump-Sum Investment Return(5) Capital Expenditure(6) Net Cash Flow (NCF): (3) + (4) – (5)(JPY
thousand)(JPY
thousand)(JPY
thousand)

175

Investment income is recorded assuming an investment yield of 1.0%.

1,020

Assessed by allocating the figures based on ER and similar cases to“Repairs and maintenance expense 3: Capital Expenditures 7.”

62,501－(7) Capitalization Rate(%)

Value indicated by DCF method(JPY
thousand)

1,460,000

Discount rate(%)

4.2/4.3

Terminal capitalization rate

(%)

4.4

Value indicated by cost approach
Land ratio
Property ratio(JPY
thousand)(%)(%)

Other items of note by appraiser

4.2

Assessed by comprehensively considering the subject property's
location, building conditions, and contract conditions.
－
Assessed by comparing with transaction examples of similar properties
and by adding the individual characteristics of the property to the yieldof the financial assets.
Assessed by taking into account the nature of the net income employed
for the capitalization yield, future uncertainty, liquidity, marketability,etc.

1,580,000

－

62.9
37.1

－
－

None

(Note) The figures are not disclosed as the Asset Manager judged that the disclosure of these might negatively impact the competitiveness of theInvestment Corporation and harm unitholder interest as the appraisal uses figures based on actual results as reference.

Property nameAppraisal value
Appraiser
Date of appraisal
Item
Value indicated by income approach
Value indicated by the direct capitalization
method(1) Operating Income
Gross potential income
Losses from vacancies(2) Operating Expenses
Operation costs
Utilities
Repairs and maintenanceexpenseProperty management fees
Tenant promotion fees, etc.
Taxes and public dues
Nonlife insurance
Other expenses(3) Net Operating Income (NOI): (1) –(2)(4) Lump-Sum Investment Return

Ishinkan Kamiooka
1,000,000,000 yen
Tanizawa Sogo Appraisal Co., Ltd.
Date: August 1, 2021
Details(JPY
thousand)

1,000,000(JPY
thousand)

1,020,000(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)(JPY
thousand)
JPY
thousand(JPY
thousand)(JPY
thousand)

Outline, etc.
Assessed by using the standardized net income value using the DCF
method and by conducting verification from the net income value using
the direct capitalization method
Assessed by capitalizing the standardized net income, which isrecognized to be stable over the medium to long term, with thecapitalization yield

Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed(Note)

Undisclosed
Undisclosed
Undisclosed
Undisclosed
Undisclosed
44,080－244

Investment income is recorded assuming an investment yield of 1.0%.

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(5) Capital Expenditure(6) Net Cash Flow (NCF): (3) + (4) – (5)(JPY
thousand)(JPY
thousand)610

Assessed by allocating the figures based on ER and similar cases to“Repairs and maintenance expense 3: Capital Expenditures 7.”

43,714－(7) Capitalization Rate(%)

Value indicated by DCF method(JPY
thousand)

996,000

Discount rate(%)

4.3/4.4

Terminal capitalization rate

(%)

4.5

Value indicated by cost approach
Land ratio
Property ratio
Other items of note by appraiser(JPY
thousand)
(%)
(%)

4.3

Assessed by comprehensively considering the subject property's
location, building conditions, and contract conditions.
－
Assessed by comparing with transaction examples of similar properties
and by adding the individual characteristics of the property to the yieldof the financial assets.
Assessed by taking into account the nature of the net income employed
for the capitalization yield, future uncertainty, liquidity, marketability,etc.

876,000

－

60.5
39.5

－
－

None

(Note) The figures are not disclosed as the Asset Manager judged that the disclosure of these might negatively impact the competitiveness of the Investment
Corporation and harm unitholder interest as the appraisal uses figures based on actual results as reference.

End
URL: https://www.daiwa-securities-living.co.jp/en/

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(Reference Material) Exterior and Map of the Assets to Be Acquired
1. Splendide Shin-Osaka SOUTH

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

2. Serenite Nippombashi Prier

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

3. Charm Premier Kamakurayama

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

4. As-heim Tsunashima

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

5. Library Shin-Shibamata

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

6. Ishinkan Kamiooka

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.

(Additional Material) Overview of Portfolio After the Acquisition<Number of Properties, Etc.>

Total number ofproperties
Number of leasable
units
Total leasable area

(Note)

Other properties
scheduled to beacquired(c) (Note)

Properties owned asof today(a)

Properties scheduled
to be acquired(b)

232 properties

6 properties

1 property

239 properties

16,736 units

520 units

36 units

17,292 units

724,715.07 m

18,814.37 m

1,423.92 m

744,953.36 m2

Properties owned asof today(a)

Properties scheduled
to be acquired(b)

JPY 329.7 billion

JPY 13.3 billion

JPY 1.5 billion

JPY 344.5 billion

JPY 389.5 billion

JPY 13.9 billion

JPY 1.5 billion

JPY 405.1 billion

22(a) + (b) + (c)2This refers to the Kuramae Project (tentative name) announced on August 23, 2021 (scheduled acquisition date: March 31, 2023).

<Asset Size, Etc.>

Total (anticipated)acquisition price(Note 1)
Appraisal value (Note 2)

Other properties
scheduled to beacquired(c)(a) + (b) + (c)(Note 1) Total (anticipated) acquisition price is calculated based on the (anticipated) acquisition price.
(Note 2) Appraisal value is calculated based on the appraisal value as of May 1, 2021 for Gran Casa Ueno Iriya, the appraisal value as of June 1, 2021 forGran Casa Itabashi EAST, the appraisal value as of July 1, 2021 for Gran Casa Monzennakacho, the appraisal value as of August 1, 2021 for Gran
Casa Magome II, and the appraisal value as of the end of March 2021 for the other properties among the properties owned as of today. Each appraisal
value is calculated based on each appraisal value as of August 1, 2021 for properties scheduled to be acquired and other properties scheduled to beacquired.

<Amount and Rate of Investment by Type (Based on (Anticipated) Acquisition Price)>
Other properties
Properties owned as
Properties scheduledscheduled to beof todayto be acquired
acquired
(a)
(b)
(c)
JPY 154.5 billion
StudioJPY 6.9 billion
JPY 1.5 billion(46.9%)
JPY 79.6 billion
Family(24.2%)
JPY 95.5 billion
Healthcare
JPY 6.3 billion(29.0%)(a) + (b) + (c)JPY 162.9 billion(47.3%)
JPY 79.6 billion(23.1%)
JPY 101.9 billion(29.6%)

End

Note: This press release was prepared as a public announcement regarding the acquisition and leasing of assets by the Investment Corporation and was notprepared with the aim of soliciting investments. Investors should exercise their own judgment in making investment decisions upon reviewing theprospectus, including any amendments thereto, prepared by the Investment Corporation in relation to the issuance of any new investment units.