Creating peace of mind through honest and committed management.

[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

March 5, 2015
REIT Issuer
Ichigo Real Estate Investment Corporation (8975)
1-1-1, Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
Asset Management Company
Ichigo Real Estate Investment Advisors Co., Ltd.
Representative: Wataru Orii, President & Representative Statutory Executive Officer
Inquiries: Hiroto Tajitsu, Head of Administration
Tel: 03-3502-4891

Ichigo REIT Portfolio Occupancy (Flash Data) – February 2015
Ichigo Real Estate Investment Corporation (“Ichigo REIT”) hereby announces its portfolio
occupancy as of the end of February 2015:
End of January
2015(Final: A)
96.2%

End of February
2015(Flash: B)
96.2%

Offices
Others

96.5%

96.2%

-0.3%

95.3%

96.2%

+0.9%

Central Tokyo

97.9%

97.4%

-0.5%

95.4%

96.0%

+0.6%

93.6%

94.0%

+0.4%

96.1%

95.7%

-0.4%66621
187,320.58m2
180,196.39m2

66
621
187,300m2
180,100m2－TotalBy AssetTypeTokyo
Metropolitan Area
By Area
Four Major
Regional Cities
Other RegionalCities
No. of Assets
No. of Tenants
Leasable Area
Leased Area

Difference
(B-A)
－－

(Note 1) The above figures have not been audited.
(Note 2) Leasable Area is the total space of the individual properties that is available to be leased
and is subject to minor adjustments due to refurbishing or individual rental contract terms.
(Note 3) “Central Tokyo” refers to Chiyoda, Minato, Chuo, Shinjuku, Shibuya, and Shinagawa
Wards. “Tokyo Metropolitan Area” refers to Tokyo (excluding the six wards above),
Kanagawa, Chiba, and Saitama Prefectures. “Four Major Regional Cities” refers to Osaka,
Nagoya, Fukuoka, and Sapporo.
(Note 4) Leasable Area and Leased Area for Flash Data are rounded down to the nearest hundred
square meters.

1Explanation of Changes
A new tenant at Burg Omori resulted in improved occupancy for Others and Tokyo MetropolitanArea. Meanwhile, lease terminations at Ichigo Kanda Ogawamachi Building, Ichigo
Takadanobaba Building, and Ichigo Mirai-Shinkin Building decreased occupancy in Office,Central Tokyo, and Other Regional Cities.
Leasing and Value Enhancement Activities
The Ichigo Yotsuya 4 Chome Building has a regulatory requirement to include residential floors,
but one of the floors had been vacant for a long time due to a rent mismatch in its existing
configuration. Based on the building’s prime location, Ichigo REIT decided to reposition andrebrand the residential floors as studio serviced apartments, which will serve the needs ofoverseas individuals coming to and living in Japan, along with having the potential to generatehigh returns for Ichigo REIT. In collaboration with Enplus, Ichigo REIT’s partner in operating
Ichigo Serviced Apartments Ginza, the residential floors were re-launched as Tokyo Apartments
Shinjuku EAST in February 2015.
Ichigo REIT will continue to enhance the value of every Ichigo asset, working with its many
partners to bring to life Ichigo’s values of Ichigo Ichie, the ancient Japanese spirit of hospitality
and service.
Tokyo Apartments Shinjuku EAST in Ichigo Yotsuya 4 Chome Building(www.tokyoapartments.jp/serviced-apartments/Tokyo-Apartments-Shinjuku-EAST+10080.html)

Website of Ichigo REIT: www.ichigo-reit.co.jp/english

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