March 13, 2007
For Immediate Release
LCP Investment Corporation
Nihon-bashi Nishikawa Bldg.,
1-5-3 Nihon-bashi, Chuo-ku, Tokyo
Shunji Miyazaki: Executive Officer(Securities Code: 8980)

LCP REIT Advisors Co., Ltd.
Nihon-bashi Nishikawa Bldg.,
1-5-3 Nihon-bashi, Chuo-ku, Tokyo
Shunji Miyazaki: CEO

Inquiries:
LCP REIT Advisors Co., Ltd.
Yuji Kubo: CFO
TEL: +81-3-3272-7311

Notice concerning Acquisition of Assets

LCP Investment Corporation (the “Investment Corporation”) is pleased to announce today that it has
acquired the following assets with details below.

Property

Property Name

Use

Type of Assets

No.

Scheduled Acquisition Price(in millions of yen)

R-27

Lexington Square Shirokane Takanawa

Residential

Beneficiary right in trust

7,660

R-28

Spacia Ebisu

Residential

Beneficiary right in trust

9,140

R-29

The Palms Yoyogi Uehara Cosmo Terrace

Residential

Beneficiary right in trust

1,780

R-30

Sun Terrace Yoyogi Uehara

Residential

Beneficiary right in trust

1,570

R-31

Park Habio Shinjuku Gyoen

Residential

Beneficiary right in trust

1,390

O-10

New Edobashi Building

OfficeBeneficiary right in trust

8,770

O-11

Shuwa Gotanda Building

OfficeBeneficiary right in trust

7,160

Total

(*1) Scheduled acquisition price cost does not include the acquisition fee, property tax, city planning tax andNote: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

37,470consumption tax, etc. and any amounts less than a million yen is rounded off to the nearest million yen.

1. Outline of Acquisition(1) Lexington Square Shirokane Takanawa(i) Property Name: Lexington Square Shirokane Takanawa(ii) Type of Assets of Scheduled Acquisition: Beneficiary right in trust(iii) Category of Properties: Residential Property(iv) Scheduled Acquisition Price (*1): 7,660 million yen(v) Scheduled Date of Purchase Agreement: March 13, 2007(vi) Scheduled Date of Acquisition: March 30, 2007 or the date which may be agreed upon by the
Seller and the Purchaser in writing.
(vii) Seller (*2): GE Real Estate Corporation, Japan(viii) Acquisition Funds: Proceeds obtained from the third party allotment of new investment units
and borrowing funds are planned to be the acquisition funds.
(ix) Collateral: None

(2) Spacia Ebisu(i) Property Name: Spacia Ebisu(ii) Type of Assets of Scheduled Acquisition: Beneficiary right in trust(iii) Category of Properties: Residential Property(iv) Scheduled Acquisition Price (*1): 9,140 million yen(v) Scheduled Date of Purchase Agreement: March 13, 2007(vi) Scheduled Date of Acquisition: March 30, 2007 or the date which may be agreed upon by the
Seller and the Purchaser in writing.
(vii) Seller (*2): Sakura Properties, Limited(viii) Acquisition Funds: Proceeds obtained from the third party allotment of new investment units
and borrowing funds are planned to be the acquisition funds.
(ix) Collateral: None

(3) The Palms Yoyogi Uehara Cosmo Terrace(i) Property Name: The Palms Yoyogi Uehara Cosmo Terrace(ii) Type of Assets of Scheduled Acquisition: Beneficiary right in trust(iii) Category of Properties: Residential Property(iv) Scheduled Acquisition Price (*1): 1,780 million yen(v) Scheduled Date of Purchase Agreement: March 13, 2007(vi) Scheduled Date of Acquisition: March 30, 2007 or the date which may be agreed upon by the
Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

Seller and the Purchaser in writing.
(vii) Seller (*2): GE Real Estate Corporation, Japan(viii) Acquisition Funds: Proceeds obtained from the third party allotment of new investment units
and borrowing funds are planned to be the acquisition funds.
(ix) Collateral: None

(4) Sun Terrace Yoyogi Uehara(i) Property Name: Sun Terrace Yoyogi Uehara(ii) Type of Assets of Scheduled Acquisition: Beneficiary right in trust(iii) Category of Properties: Residential Property(iv) Scheduled Acquisition Price (*1): 1,570 million yen(v) Scheduled Date of Purchase Agreement: March 13, 2007(vi) Scheduled Date of Acquisition: March 30, 2007 or the date which may be agreed upon by the
Seller and the Purchaser in writing.
(vii) Seller (*2): GE Real Estate Corporation, Japan(viii) Acquisition Funds: Proceeds obtained from the third party allotment of new investment units
and borrowing funds are planned to be the acquisition funds.
(ix) Collateral: None

(5) Park Habio Shinjuku Gyoen(i) Property Name: Park Habio Shinjuku Gyoen(ii) Type of Assets of Scheduled Acquisition: Beneficiary right in trust(iii) Category of Properties: Residential Property(iv) Scheduled Acquisition Price (*1): 1,390 million yen(v) Scheduled Date of Purchase Agreement: March 13, 2007(vi) Scheduled Date of Acquisition: March 30, 2007 or the date which may be agreed upon by the
Seller and the Purchaser in writing.
(vii) Seller (*2): GE Real Estate Corporation, Japan(viii) Acquisition Funds: Proceeds obtained from the third party allotment of new investment units
and borrowing funds are planned to be the acquisition funds.
(ix) Collateral: None

(6) New Edobashi Building(i) Property Name: New Edobashi Building(ii) Type of Assets of Scheduled Acquisition: Beneficiary right in trust(iii) Category of Properties: Other (Office Building)Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

(iv) Scheduled Acquisition Price (*1): 8,770 million yen(v) Scheduled Date of Purchase Agreement: March 13, 2007(vi) Scheduled Date of Acquisition: March 30, 2007 or the date which may be agreed upon by the
Seller and the Purchaser in writing.
(vii) Seller (*2): Yupitel Godo Corporation(viii) Acquisition Funds: Proceeds obtained from the third party allotment of new investment units
and borrowing funds are planned to be the acquisition funds.
(ix) Collateral: None

(7) Shuwa Nishi Gotanda Building(i) Property Name: Shuwa Nishi Gotanda Building(ii) Type of Assets of Scheduled Acquisition: Beneficiary right in trust(iii) Category of Properties: Other (Office Building)(iv) Scheduled Acquisition Price (*1): 7,160 million yen(v) Scheduled Date of Purchase Agreement: March 13, 2007(vi) Scheduled Date of Acquisition: March 30, 2007 or the date which may be agreed upon by the
Seller and the Purchaser in writing.
(vii) Seller (*2): Yupitel Godo Corporation(viii) Acquisition Funds: Proceeds obtained from the third party allotment of new investment units
and borrowing funds are planned to be the acquisition funds.
(ix) Collateral: None(*1) Scheduled acquisition price does not include the acquisition fee, property tax, city planning tax and consumption
tax, etc. and any amount less than a million yen is rounded off to the nearest million yen.
(*2) Please refer to 5. Seller’s Profile below.

2. Reason for Acquisition
The Investment Corporation has acquired the properties described above in order to (i) securestable profits and steady growth in investment assets from a mid to long-term perspective inaccordance with the “asset management objectives and policies” provided for by the Investment
Corporation’s Articles of Incorporation; and (ii) focus the expansion of scale of the portfolio andthe expansion of the asset portfolio in the Tokyo Metropolitan area where stable rent income isexpected. As announced as of today in the “Notice concerning Business Cooperation with GE
Real Estate”, LCP REIT Advisors Co., Ltd. (the “Asset Management Company”), which is theasset manager of the Investment Corporation, has executed the Business Cooperation Agreementwith GE Real Estate Corporation, Japan (“GE Real Estate”), a Japanese subsidiary of GE Real
Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

Estate, which is the real estate business section of General Electric Company in the United States,
concerning (i) cooperation to secure a source of manpower of the Asset Management Company,and (ii) the information services concerning real estate, etc. and the granting of preferential
negotiation rights to the Asset Management Company. As announced as of today in the “Noticeconcerning Amendment of Management Guidelines of Asset Management Company,” the AssetManagement Company amends the management guidelines which are the internal regulations, andraises the upper limit of investment ratio by category concerning residential property from below
65% to below 75%. Additionally, with respect to senior and other properties, it has been clarified
that taking the economic environment and real estate market trends, etc. into consideration, in casewhere it is judged that the rent is expected to increase regarding senior and other properties, suchproperties may still be acquired even if such acquisition does not apply to LCP Style (*).

The

New Edobashi Building and Nishi Gotanda Building (Office Building) do not correspond to LCPStyle.

However, it was determined to acquire these properties in accordance with theaforementioned criteria.

(*) “LCP Style” means a long-term and stable asset management method by using a net lease or master lease,which LCP Group L.P. (the main shareholder of the Asset Management Company) and LXP have developed.
LCP Style shall adopt at least one of the following four methods: (i) net-lease, (ii) long-term contract, (iii)
fixed-rent master lease or (iv) block rental.
LXP: US REIT listed on the New York Stock Exchange, which LCP Group L.P. participated in theestablishment of.

3. Summary of Property
Please refer to “Summary of Assets of Scheduled Acquisition” described in “Exhibit” below.

4. Matters related to Building Resistance against Earthquake
The adequacy of structural calculation of the aforementioned seven properties has been reported
by a third party institution through investigations as follows.

(1) Investigation regarding five properties from the seven properties (except for Lexington Square
Shirokane Takanawa and Spacia Ebisu)(i) Investigator
Company’s Name

Tokio Marine & Nichido Risk Consulting Co., Ltd

Location (Head Office)1-2-1, Marunouchi, Chiyoda-ku, Tokyo

Representative

Representative Director: Tomohisa Yamada

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

Capital

1 billion yen

Business Activities

Due Diligence Inspection of Real Estate etc

Relationship with Investment CorporationNone(ii) Matter of Investigation: Verification and Inspection of Structural Calculation and related
Design and Specification(iii) Result of Investigation: The possibility that the architect has intentionally modified thestructural calculation has not been found.. Regarding the structural design ,it has been
determined that the design conforms to the regulations concerning resistance against
earthquakes, such as the Building Standard Law and the same enforcement order.

(2) Investigation regarding Spacia Ebisu(i) Investigator
Company’s Name

Sofwel Co., Ltd

Location (Head Office)4-5-11, Kudan Minami, Chiyoda-ku, Tokyo

Representative

Representative Director: Hideki Hirayama

Capital10,000,000 yen

Business Activities

Planning, design and supervising of public and general buildings.

Construction

consulting business and other.
Relationshipwith

Investment

None

Corporation(ii) Matter of Investigation: Verification and Inspection of Structural Calculation and related
Design and Specification(iii) Result of Investigation: The possibility that the architect has intentionally modified thestructural calculation. has not been discovered Regarding the structural design, it has been
judged that the design conforms to the regulations concerning resistance against earthquakes,
such as the Building Standard Law and the same enforcement order.

(3) Investigation regarding Shirokane Takanawa
Lexington Square Shirokane Takanawa is a super high-rise residential building which exceeds theheight of 60m.

As a result of deliberation by the super high-rise building structural judging

committee of The Building Center of Japan, it has been determined that the structural method of
the building complies with durability related-regulations of the Building Standard Law
Enforcement Order.

Therefore, the structural design has not been re-appraised.

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

5. Seller’s Profile(1) Seller of Lexington Square Shirokane Takanawa, The Palms Yoyogi Uehara Cosmo Terrace, Sun
Terrace Yoyogi Uehara and Park Habio Shinjyuku Gyoen
Company’s NameGE Real Estate Corporation, Japan

Location (Head Office)12-32, 1-chome, Akasaka, Minato-ku, Tokyo

Representative

Representative Director: Tomoyuki Yoshida

Capital21,241 million yen (as of February 1, 2007)

Main Shareholder

GE Japan Holdings, Inc

Business Activities

Real estate investment, development, real estate finance, real estate
management and business development.

Relationship with the Investment

Please refer to 2. Reason for Acquisition.

Corporation(2) Seller of Spacia Ebisu
Company’s Name

Sakura Properties Ltd

Location (Head Office)12-32, 1-chome, Akasaka, Minato-ku, Tokyo

Representative

Director: Keizou Ishikawa

Capital

3 million yen

Main shareholder

GE Real Estate Corporation, Japan

PurposeAcquisition, holding and sales of beneficiary right in trust, purchase, sales, leasing andmanagement of real estate.

Relationship

with

the

Investment Corporation

Sakura Properties, Ltd. is a wholly owned subsidiary of GE Real Estate Corporation,
Japan.

Regarding the relationship with the Investment Corporation, please refer to 2.

Reason for Acquisition.

(3) Seller of New Edobashi Building and Nishi Gotanda Building
Company’s Name

Yupitel Godo Corporation

Location (Head Office)12-32, 1-chome, Akasaka, Minato-ku, Tokyo

Representative

GE Real Estate Corporation, Japan

Capital

3 million yen

Main shareholder

GE Real Estate Corporation, Japan

PurposeAcquisition, holding and sales of real estate, acquisition, holding and sales ofbeneficiary right in trust.

Relationshipwith

Investment Corporation

the

Sakura Properties, Ltd. is a wholly owned subsidiary of GE Real Estate Corporation,
Japan. Regarding the relationship with the Investment Corporation, please refer to 2.

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

Reason for Acquisition.

6. Seller’s Situation(1) Lexington Square Shirokane Takanawa
Previous Owner

Owner

beforeprevious owner
Company’s NameGE Real Estate Corporation, Japan

Exceptspecialstakeholder
Relationship with special

Nonestakeholder
Circumstances/ Reason of

Investment management

Transaction
Acquisition Price

It shall not be disclosed due to a confidentiality provision in thePurchase/ Sales Agreement with the previous owner.

Acquisition Date

February 2006

(2) Spacia Ebisu
Previous Owner

Owner

beforeprevious owner
Company’s Name

Sakura Properties, Ltd.

Exceptspecialstakeholder
Relationship with special

Nonestakeholder
Circumstances/ Reason of

Investment management

Transaction
Acquisition Price

It shall not be disclosed due to a confidentiality provision in thePurchase/ Sales Agreement with the previous owner.

Acquisition Date

March 2003

(3) The Palms Yoyogi Uehara Cosmo Terrace
Previous Owner

Owner

beforeprevious owner
Company’s NameGE Real Estate Corporation, Japan

Exceptspecialstakeholder
Relationship with special

None

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

stakeholder
Circumstances/ Reason of

Investment management

Transaction
Acquisition Price

It shall not be disclosed due to a confidentiality provision in thePurchase/ Sales Agreement with the previous owner.

Acquisition Date

December 2004

(4) Sun Terrace Yoyogi UeharaPrevious Owner

Owner

beforeprevious owner
Company’s NameGE Real Estate Corporation, Japan

Exceptspecialstakeholder
Relationship with special

Nonestakeholder
Circumstances/ Reason of

Investment management

Transaction
Acquisition Price

It shall not be disclosed due to a confidentiality provision in thePurchase/ Sales Agreement with the previous owner.

Acquisition Date

July 2002(5) Park Habio Shinjuku Gyoen
Previous Owner

Owner

beforeprevious owner
Company’s NameGE Real Estate Corporation, Japan

Exceptspecialstakeholder
Relationship with special

Nonestakeholder
Circumstances/ Reason of

Investment management

Transaction
Acquisition Price

It shall not be disclosed due to a confidentiality provision in thePurchase/ Sales Agreement with the previous owner.

Acquisition Date

September 2005

(6) New Edobashi Building
Previous Owner

Owner before previous owner

Previous owner before

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

the entity described in“Owner before previous
owner”
Company’s Name

Yupitel Godo Corporation

GE

Real

EstateCorporation,

Japan
Relationship

with

None

None

Investment management

Investment management

It shall not be disclosed due to a

It shall not be disclosed due to aconfidentiality provision in theconfidentiality provision in thePurchase/ Sales Agreement with

Purchase/ Sales Agreement withthe previous owner.

the previous owner.

December 2006

February 2002

Exceptspecialstakeholder

special stakeholder
Circumstances/
ReasonofTransaction
Acquisition Price

Acquisition Date

(7) Shuwa Gotanda Building
Previous Owner

Owner before previous owner

Previous owner before
the entity described in“Ownerbeforeprevious owner”
Company’s Name

Yupitel Godo Corporation

GE Real Estate Corporation, Japan

Exceptspecialstakeholder
Relationship

with

None

None

Investment management

Investment management

It shall not be disclosed due to a

It shall not be disclosed due to aconfidentiality provision in theconfidentiality provision in thePurchase/ Sales Agreement with

Purchase/ Sales Agreement withthe previous owner.

the previous owner.

December 2006

November 2004

special stakeholder
Circumstances/
ReasonofTransaction
Acquisition Price

Acquisition Date

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

7. Transaction with Stakeholders, etc
As of March 13, 2007, GE Real Estate Corporation, Japan, Sakura Properties, Ltd. and Yupitel
Godo Corporation (Sellers of seven properties above) do not fall under the category of asponsor-related party (*) under self-regulation by the Asset Management Company, which is ameasure to prevent conflicts of interest concerning asset management of the Investment
Corporation.

However, taking into consideration the third-party allotment of a considerable

amount of investment units to the recipient, which belongs to the group company of General
Electric Company in the United States, as is the case with the said seller (please refer to the“Notice concerning Issuance of New Investment Units by way of Third-party Allotment”), thepurchase price is determined through careful deliberation recognizing the seller as a party similar
to sponsor-related parties from a standpoint to secure the fairness and transparency related to thescheduled acquisition of assets.

(*) Sponsor-related party means:(a) Party or person who falls under the category of Related-Parties, etc. defined by the Law concerning Investment
Trusts and Investment Corporations;(b) All shareholders of the Asset Management Company; and(c) Special Purpose Company which entrusts its asset management to a party or a person falling under the categoryof (b) above, or shares or Tokumei Kumiai Mochibun (note) of which are held by a party or a person fallingunder the category of (b) above.
(Note) Tokumei Kumiai Mochibun means equity interests of capital contribution in undisclosed associations.

8. Brokerage Summary
The Chuo Mitsui Trust and Banking Company, Ltd. and the Mitsubishi UFJ Trust and Banking
Corporation will mediate the transaction of Spacia Ebisu between the Investment Corporation andSeller as a broker.

Regarding six properties except for Spacia Ebisu, The Chuo Mitsui Trust andBanking Company Ltd. will mediate the property’s transaction between the Investment
Corporation and Seller as a brokerage company.

The Chuo Mitsui Trust and Banking Company

Ltd. and the Mitsubishi UFJ Trust and Banking Corporation do not fall under the category of asponsor-related party under self-regulation by the Asset Management Company which is ameasure to prevent conflicts of interest concerning asset management of the Investment
Corporation.

Regarding the property’s acquisition, the Investment Corporation pays 866,360,000

yen (excluding consumption tax) as a brokerage fee to The Chuo Mitsui Trust and Banking
Company, Ltd.

It also pays 182,800,000 yen (excluding consumption tax) as a brokerage fee tothe Mitsubishi UFJ Trust and Banking Corporation.
Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

9. Form of Payment
With respect to the aforementioned seven properties, the Investment Corporation plans to make alump-sum payment of the acquisition price to the seller on the scheduled date of acquisition.

10. Forecasts of Financial Results
With respect to the effect of the acquisition on the forecasts of financial results of the Investment
Corporation for the fiscal period ending August 31, 2007 (from March 1, 2007 to August 31, 2007)
please refer to the “Notice concerning Revisions of Forecasts of Financial Results for the Fiscal
Period Ending August 31, 2007” as of March 13, 2007.
＊ This document is being distributed today to the Kabuto Club (the press club of the TSE) as well as to the pressclub for the Ministry of Land, Infrastructure and Transport and to the press club for newspapers specialized inconstruction at the Ministry of Land, Infrastructure and Transport.
＊ The website of the Investment Corporation: http://www.lcp-reit.co.jp＊ This English language notice is a translation of the Japanese language notice issued on the same day and was
prepared solely for the convenience of, and reference by, overseas investors.

LCP Investment Corporation

makes no warranties as to its accuracy or completeness.

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

[Exhibit]

Summary of Assets of Scheduled Acquisition
Property Number：

R-27

Property Name：

Lexington Square Shiroｋane Takanawa

Property Features
The property is a high-rise apartment, adjacent to Shirokane Takanawa Station (Tokyo Metro Nanboku-line, Toei Mita-line). Very good accessibility to thecentral Tokyo (11 minutes to Otemachi Station by Toei Mita-line). The said area has a very high reputation as a residential area and the apartment is locatedon Sakurada-dori is highly visible.

Strong demand is expected from high income earners.

Address

1-4-3, Takanawa, Minato-ku, Tokyo

Land number

1-112-2,Takanawa, Minato-ku, Tokyo

Location

Type of ownership

Ownership right

Summary of Engineering Report

Commercial district,
Area usage（Unit： in thousands of yen）
Tokio Marine & Nichido

Investigation Company
Category 1 mid-high-rise exclusive area

Risk Consulting Co., Ltd.

Land
Site area

1,340.1 ㎡

Date of Investigation

Floor area ratio

500%/ 300%

Urgent0

RepairWithin 1 year

0

costs

Annual average overBldg. coverage ratio

80%/ 60%

Type of ownership

February 2007

3,513

Ownership right
12 years

Usage

Apartment

Floor space (*）

9,474.0 ㎡

Earthquake PML

7.9%

Summary of Real Estate Appraisal Report（Unit： in millions of yen）
Structure/ Number ofRC,22Ｆ/B1F

Appraiser

Nihon Real Estate InstituteDecember 2005

Appraisal Date

March 1, 2007

The Building Center of Japan

Appraisal ValuefloorsBldg.

Completion date
Bldg. Inspection Agency

7,660

Konoike Construction Co., Ltd.
Architect

Capitalization approach price7,660

1st class licensed architect officePrice calculated by the direct capitalization
Constructor

Konoike Construction Co., Ltd.

7,750
approach

Current owner

GE Real EstatePrevious owner

Sumitomo Realty & Development Co., Ltd.

Gross income

420

Rental income

420

Other income0

The Chuo Mitsui Trust and Banking Company,
TrusteeLtd.
Scheduled expiration date of trust term

March 31, 2017

Gross expenses

62

Tokyo Tatemono Real Estate Sales Co., Ltd.
Maintenance management

ＰＭ company(scheduled)

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

14Tokyo Tatemono Real Estate Sales Co., Ltd.
Master lease company

Water/ Utilities

7(scheduled)
Expenses for commission ofType of master lease

Pass through (scheduled)8
building management

Lease Details （Unit in thousands of yen）
Investigation date

January 31, 2007

Total number of tenants

1

The number of rentable units

129

The number of leased units

124

Tax and public charges

20

Damage insurance

1

Other

4

Lease advertising

8

Reserve for large-scale repair
8
expenses
Rentable area

6,134.4 ㎡

NOI

340

Rented area

5,871.2 ㎡

NCF

333

Monthly rent

29,751

Capitalization rate

4.3%

Deposit/ Security deposit

60,244

Price calculated by the discounted cash flow
7,570
approach
Operating ratio （based on the space）
Property type

95.7%

Discount rate

4.1%

Terminal cap rate

4.5%

Number of units

Ratio of units

Ratio of area

Compact

44

34%

20%

Estimated value

6,350

Spacious

85

66％

80%

Land price

4,130

Others---Bldg. price

2,220

Scheduled Acquisition Price （Unit： in millions of
7,660
yen）
Notes
N/A

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

Property Number：

R-28

Property Name：

Spacia Ebisu

Property Features
The property is a high-grade apartment, located 9 minutes on foot from Ebisu Station (JR Yamanote-line).

Ebisu Station has good accessibility to Shibuya

Station, Shinjuku Station, Ikebukuro Station and Tokyo Station. The Ebisu area is very popular among young people and is known as an upscale residential
area.

Stable demand is expected from single and small households who are fond of brands and good accessible locations.
Address

3-6-22, Higashi, Shibuya-ku, Tokyo

Land number

3-14-6, Higashi, Shibuya-ku, Tokyo together with nine other parcels of land

Location

Type of ownership

Ownership right

Summary of Engineering Report (*) （Unit： in thousands of yen）

Category 2 ｍid-high rise exclusive resideArea usage

Tokio Marine & Nichido Risk
Investigation Company

ntial area

Consulting Co., Ltd.

Land
Site area

2707.0 ㎡

Date of Investigation

Floor area ratio

300%

Urgent-Bldg. coverage ratio

60%

RepairWithin 1 year

-

costs

Annual average

Type of ownership

February 2007

5,805

Ownership rightover 12 years

Usage

Apartment

Floor space (*）

10,367.0 ㎡

Earthquake PML

10.8%

Summary of Real Estate Appraisal Report（Unit： in millions of yen）
Structure/ Number of
ＲＣ,8Ｆ/B1F

Appraiser

Japan Real Estate InstituteFebruary 2003

Appraisal Date

March 1, 2007

Japan ERI Co., Ltd.

Appraisal ValuefloorsBldg.
Completion date
Bldg. Inspection
9,140

AgencyMatsumura-gumi Corporation
Architect

Capitalization approach price

9,140

Higashi Nihon Design Department
Matsumura-gumi Corporation

Price calculated by the direct capitalization

Constructor

9,270Tokyo Head Office

Current owner

Sakura Properties

Previous owner

Joint Corporation Co., Ltd.

approach
Gross income

470

Rental income

468

Other income

2

The Chuo Mitsui Trust and Banking Company,
TrusteeLtd.
Scheduled expiration date of trust
March 31, 2017

Gross expenses

54

term
ＰＭ company

Joint Asset Management Co., Ltd. (scheduled)

Maintenance management

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

11

Master lease company

Joint Asset Management Co., Ltd. (scheduled)Type of master lease

Pass through (scheduled)

Water/ Utilities

3

Expenses for commission of5
building management
Lease Details （Unit： in thousands of yen）
Investigation date

January 31, 2007

Total number of tenants

1

The number of rentable units

109

The number of rented units

103

Tax and public charges

19

Damage insurance

1

Other

5

Lease advertising10

Reserve for large-scale repair
10
expenses
Rentable area

7,794.9 ㎡

NOI

416

Rented area

7,354.8 ㎡

NCF

408

Monthly rent

33,866

Capitalization rate

4.4%

Deposit/ Security deposit

63,720Price calculated by the discounted cash flow
9,010
approach
Operating ratio （based on the space）
Property type

94.4％

Discount rate

4.2%

Terminal cap rate

4.6%

Number of units

Ratio of units

Ratio of area

Compact―――

Estimated value

8,590

Spacious

108

99％

99%

Land price

6,020

Others11％1％Bldg. price

2,570

Scheduled Acquisition Price （Unit： \ in millions）
Notes
N/A

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

9,140

Property Number：

R-29

Property Name：

The Palms Yoyogi Uehara Cosmo Terrace

Property Features
The property is a high-grade apartment, located about 7 minutes on foot to, 520 m south-east of, Higashi-kitazawa Station (Odakyu-line,Tokyo Metro
Chiyoda-line).

It has very good accessibility to the center of Tokyo (10 minutes on foot to Yoyogi-Uehara Station (Odakyu-line, Tokyo Metro

Chiyoda-line), 10 minutes on foot to Ikenoue Station (Keio Inogashira-line), 7 minutes by train to Shinjuku Station, 5 minutes by train to
Shibuya Station).

Demand is expected from business people and couples whose priority is location.

Address

2-33-1, Uehara, Shibuya-ku, Tokyo

Land number

2-1213-2, Uehara, Shibuya-ku, Tokyo together with five other parcels of land

Location

Type of ownership

Ownership right

Summary of Engineering Report (*) （Unit： in thousands of yen）

Neighborhood Commercial district,
Area usage

Tokio Marine & Nichido Risk
Investigation Company

Category 1 low-rise exclusive residential aｒea
Land

Site area
Floor area ratio

Consulting Co., Ltd.

753.8 ㎡

Date of Investigation

February 2007

300%, 150%

Urgent-Within 1 year-

Bldg. coverage
80%, 60%

Repairratio
costs
Annual average
Type of ownership

Sectional Ownership

4,141
over 12 years

Usage

Apartment

Floor space(*）

1,858.5 ㎡

Earthquake PML

8.1%

Summary of Real Estate Appraisal Report（Unit： in millions of yen）
Structure/
SRC,１１Ｆ

Appraiser

Morii Appraisal & Investment Consulting Inc

November ２００４

Appraisal Date

February 28, 2007

E Homes Co., Ltd.

Appraisal Value

Number of floors
Bldg.
Completion date
Bldg. Inspection
1,780

AgencySpace Tech Co., Ltd.
Architect

Capitalization approach price

1,780

1st class licensed architect officePrice calculated by the direct capitalization
Constructor

Tobu Construction Co., Ltd.

1,800
approach

Current owner

GE Real Estate

Gross income

97

Previous owner

Tosei Corporation

Rental income

97

Trustee

The Chuo Mitsui Trust and Banking Company, Ltd.

Other income0

Scheduled expiration date ofMarch 31, 2017

Gross expenses

trust term

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

13

ＰＭ company

Best Property Co., Ltd. (scheduled)

Maintenance management

3

Master lease company

Best Property Co., Ltd. (scheduled)

Water/ Utilities

1

Type of master lease

Pass through (scheduled)

Expenses for commission of2
building management
Lease Details （Unit： in thousands of yen）
Investigation date

January 31, 2007

Tax and public charges

4

Damage insurance

0
1

Total number of tenants

1

Other

The number of rentable units

30

Lease advertising

The number of leased units

29

2

Reserve for large-scale repair
3
expenses
Rentable area

1,801.2 ㎡

NOI

83

Leased floor area

1,721.2 ㎡

NCF

81

Monthly rent （assuming no vacancies）

7,286

Deposit/ Security deposit

14,572

Capitalization rate

4.5%

Price calculated by the discounted cash flow
1,750
approach
Operating ratio （based on the space）
Property type

95.6%

Discount rate

4.3%

Terminal cap rate

4.7%

Number of units

Ratio of units

Ratio of area

Compact―――

Estimated value

1,230

Spacious

30

100％

100%

Land price852

Others---Bldg. price382

Scheduled Acquisition Price （Unit： \ in millions）

1,780

Notes
On the west-side of the property there is a private road which is a road under the Building Standard Law, Article 42, Item 2.

Therefore, the land of the said

property includes a private road (about 64 ㎡).

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

Property Number：

R-30

Property Name：

Sun Terrace Yoyogi Uehara

Property Features
The property is a high-grade apartment, located 6 minutes on foot to and about 420m south-east of Yoyogi Uehara Station (Odakyu-line, Tokyo Metro
Chiyoda-line).

It has a good accessibility to central Tokyo (7 minutes to Shinjuku Station, 9 minutes to Omotesando Station, 20 minutes to Otemachi

Station by Tokyo Metro Chiyoda-line).

The said area is a very popular residential area.

Demand is expected from families whose priorities areconvenience and good accessible location.
Address

2-3-7, Uehara, Shibuya-ku, Tokyo

Land number

2-1139-3, Uehara, Shibuya-ku, Tokyo together with 12 other parcels of land

Location

Type of ownership

Ownership right

Summary of Engineering Report (*) （Unit： in thousands of yen）
Tokio Marine & Nichido Risk

Area usage

Neighborhood Commercial district

Investigation Company
Consulting Co., Ltd.

Land
Site area

638.1 ㎡

Date of Investigation

Floor area ratio

300%

Urgent-Bldg. coverage ratio

80%

RepairWithin 1 year

-

costs

Annual average

Type of ownership

February 2007

3,750

Ownership rightover 12 years

Usage

Apartment

Floor space (*）

2,001.2 ㎡

Earthquake PML

10.9%

Summary of Real Estate Appraisal Report（Unit： in millions of yen）
Structure/ Number of
ＲＣ,8Ｆ
Bldg.

Appraiser

Morii Appraisal & Investment Consulting Inc

February, 1999

Appraisal Date

February 28, 2007

Governmental Body (Shibuya-ku, Tokyo)

Appraisal ValuefloorsCompletion date
Bldg. Inspection
1,570

AgencyArchitect

Mitsui Home Co., Ltd.

Capitalization approach price

1,570

Price calculated by the direct capitalization
Constructor

Mitsui Home Co. ,Ltd.

1,590
approach

Current owner

GE Real EstatePrevious owner

Yuraku-cho Sogo Kaihatsu Co., Ltd.

Gross income

89

Rental income

89

Other income0

The Chuo Mitsui Trust and Banking Company,
TrusteeLtd.
Scheduled expiration date of trust
March 31, 2017

Gross expenses

15

term
ＰＭ company

Ken Real Estate Lease Ltd. (scheduled)

Maintenance management

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

3

Master lease company

Ken Real Estate Lease Ltd. (scheduled)Type of master lease

Pass through (scheduled)

Water/ Utilities

1

Expenses for commission of3
building management
Lease Details （Unit： in thousands of yen）
Investigation date

January 31, 2007

Tax and public charges

1

Damage insurance

02

Total number of tenants

1

Other

The number of rentable units

21

Lease advertising

The number of leased unit

21

2

Reserve for large-scale repair
3
expenses
Rentable area

1,760.9 ㎡

NOI74

Leased floor area

1,760.9 ㎡

NCF

71

Monthly rent （assuming no vacancies）

7,058

Deposit/ Security deposit

14,155

Capitalization rate

4.5%

Price calculated by the discounted cash flow
1,540
approach
Operating ratio （based on the space）
Property type100.0％

Discount rate

4.3%

Terminal cap rate

4.7%

Number of units

Ratio of units

Ratio of area

Compact―――

Estimated value

1,290

Spacious

21

100％

100%

Land price

944

Other

-

-

-

Bldg. price347

Scheduled Acquisition Price （Unit： \ in millions）

1,570

Notes
On the west-side of the property there is a private road which is a road under the Building Standard Law, Article 42, Item 2.
is a road designated by the special administrative agency.

The south-side private road

Therefore, the land of the said property includes private roads (about 34.09 ㎡).

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

Property Number：

R-31

Property Name：

Park Habio Shinjuku Gyoen

Property Features
The property is a high-grade apartment, located 4 minutes on foot to, and 280 m north of, Shinjuku-Gyoen-mae Station (Tokyo Metro Marunouchi-line) 5
minutes on foot to Shinjuku 3-chome Station (Toei Shinjuku-line).
Station).

It is highly convenient and accessible to central Tokyo (3 minutes by train to Shinjuku

The said property is in walking distance to downtown Shinjuku and Shinjuku-gyoen Park.

Demand is expected from business persons whose

priorities are convenience and accessibility to central Tokyo.
Address

1-36-15, Shinjuku, Shinjuku-ku, Tokyo

Land number

1-36-18,19, Shinjuku, Shinjuku-ku, Tokyo

Location

Type of ownership

Ownership right

Summary of Engineering Report (*) （Unit： in thousands of yen）
Tokio Marine & Nichido Risk

Area usage

Commercial area

Investigation Company
Consulting Co., Ltd.

Land
Site area

402.8 ㎡

Date of Investigation

Floor area ratio

363%

Urgent-Bldg. coverage ratio

90%

RepairWithin 1 year

-

costs

Annual average

Type of ownership

February 2007826

Ownership rightover 12 years

Usage

Apartment

Floor space (*）

1,853.6 ㎡

Earthquake PML

10.4%

Summary of Real Estate Appraisal Report（Unit： in millions of yen）
Structure/ Number of
ＲＣ,10F

Appraiser

Morii Appraisal &Investment Consulting Inc

August 2005

Appraisal Date

February 28, 2007

Urban Housing Evaluation Center

Appraisal ValuefloorsBldg.
Completion date
Bldg. Inspection
1,390

AgencyMatsui Kensetsu K.K.
Architect

Capitalization approach price

1,390

1st class licensed architect officePrice calculated by the direct capitalization
Constructor

Matsui Kensetsu K.K.

1,410
approach

Current owner

GE Real EstatePrevious owner

Mitsubishi Estate Co., Ltd.

Gross income

79

Rental income

79

Other income0

The Chuo Mitsui Trust and Banking Company,
TrusteeLtd.
Scheduled expiration date of trust
March 31, 2017

Gross expenses

term

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

14

Mitsubishi Real Estate Services Co., Ltd.
ＰＭ company

Maintenance management

3

Water/ Utilities

1(scheduled)
Mitsubishi Real Estate Service Co., Ltd.
Master lease company(scheduled)
Expenses for commissions ofType of master lease

Pass through (scheduled)3
building management

Lease Details （Unit： in thousands of yen）
Investigation date

January 31, 2007

Tax and public charges

1

Damage insurance

0

Total number of tenants

1

Other

1

The number of rentable units

48

Lease advertising3

The number of leased units

41

Reserve for large-scale repair
1expenses
Rentable area

1,357.5 ㎡

NOI64

Leased floor area

1,156.4 ㎡

NCF

63

Monthly rent （assuming no vacancies）

5,393

Deposit/ Security deposit

11,365

Capitalization rate

4.5%

Price calculated by the discounted cash flow
1,370
approach
Operating ratio （based on the space）
Property type85.2％

Discount rate

4.3%

Terminal cap rate

4.7%

Number of units

Ratio of units

Ratio of area

Compact

42

87 %

78 %

Estimated value

866

Spacious

6

13％

22%

Land price

536

Other

-

-

-

Bldg. price330

Scheduled Acquisition Price （Unit： \ in millions）
Notes
N/A

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

1,390Property Number：

O-10

Property Name：New Edobashi Building

Property Features
The property is an office building, located 3 minutes on foot from Mitsukoshi Mae Station.

The neighboring area around the said property has goodaccessibility (2 minutes to Otemachi Station by train with use of 3 different stations and 5 different lines).
694 ㎡, and there are standard level facilities.

The standard floor area of the said property has

The condition of maintenance management is relatively good, and it is competitive in comparison to otheroffice buildings.
Address

1-7-2, Nihonbashi-honcho, Chuo-ku, Tokyo

Land number

1-12-1, Nihonbashi-honcho, Chuo-ku, Tokyo

Location

Type of ownership

Ownership right

Area usage

Commercial area

Summary of Engineering Report （Unit： in thousands of yen）
Tokio Marine & Nichido Risk
Investigation Company
Consulting Co., Ltd.

Land
Site area

924.0 ㎡

Date of Investigation

Floor area ratio

800%

Urgent-Bldg. coverage ratio

100%

RepairWithin 1 year

-

costs

Annual average

Type of ownership

February 2007

16,881

Ownership rightover 12 years

Usage

OfficeEarthquake PML

13.1,%

Summary of Real Estate Appraisal Report
Floor space (*）

8,076.4 ㎡（Unit： in millions of yen）

Structure/ Number of
SRC, 10Ｆ/B1F
Bldg.

Appraiser

Japan Real Estate InstituteNovember 1986

Appraisal Date

March 1, 2007

Governmental body (Chuo-ku, Tokyo)

Appraisal ValuefloorsCompletion date
Bldg. Inspection
8,770

AgencyArchitect

Kajima Corporation

Capitalization approach price

8,770

Price calculated by the direct capitalization
Constructor

Kajima Corporation

8,960
approachPrevious owner

Yupitel Godo Corporation

Current owner

GE Real Estate

Gross income

529

Rental income

477

Other income

52

The Chuo Mitsui Trust and Banking Company,
TrusteeLtd.
Scheduled expiration date of trust
March 31, 2017

Gross expenses

116

term
ＰＭ company

M S Building Support Co., Ltd. (scheduled)

Maintenance management

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

22

Master lease company-

Type of master lease-

Water/ Utilities

29

Expenses for commission of8
building management
Main tenant

Nomura Research Institute, Ltd.

Lease Details （Unit： in thousands of yen）
Investigation date

January 31, 2007

Tax and public charges

28

Damage Insurance

2

Other

2

Lease advertising0

Reserve for large-scale repair
Total number of tenants

425
expenses

Rentable area

5,695.7 ㎡

Rented area

5,695.7 ㎡

Monthly rent

34,628

NOI

438

Deposit/ Security deposit

356,155

NCF

412

Operating ratio （based on the space）

100.0%

Capitalization rate

4.6%

Price calculated by the discounted cash flow
8,580
approach
Discount rate

4.3%

Terminal cap rate

4.8%

Estimated value

5,980

Land price

4,797

Bldg. price

1,183

Scheduled Acquisition Price （Unit： \ in millions）
Notes
N/A

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

8,770

Property Number：

O-１１

Property Name：

Shuwa Nishi Gotanda Building
Property Feature

The property is an office building, located in 4 mins on foot to north-east to Fudomae Station ( Tokyu Meguro-line) and 11 mins on foot South-west of
Gotanda Station ( JR Yamanote-line). It takes 20 mins by train from the closest station Fudomae Station to Otemachi Station, The standard floor area has
150-180 tsubo. The facility is equipped for the needs of tenant. The condition of maintenance management of the said property is relatively good and it iscompetitive in comparison to other office buildings.
Address

5-2-4,Nishi Gotanda, Shinagawa-ku,Tokyo

Land Number

5-435-1, Nishi Gotanda, Shinagawa-ku, Tokyo

Location

Type of Ownership

Ownership right

Summary of Engineering Report （Unit：\ in thousands）
Tokio Marine & Nichido Risk

Use area

Commercial district

Investigation Company
Consulting Co.,Ltd

Land
Site area

918.2 ㎡

Time of Investigation

February , 2007

Floor area ratio

600%

Urgent-Bldg coverage ratio

100%

RepairingWithin 1 year

-

cost

Average for 12

Type of Ownership

Ownership right

15,619
years

Usage

OfficeFloor space (*）

7,994.4 ㎡

Earthquake PML

10.5,%

Summary of Real Estate Appraisal Report （Unit：\ in millions）

Structure/Number of
SRC/S、11Ｆ/B1F

Appraiser

Japan Real Estate InstituteJune, 1993

Appraisal Date

March 1, 2007

Governmental Body (Shinagawa-ku, Tokyo)

Appraisal Value

floor
Bldg

Completion date
Bldg Inspection

7,160

AgencyShuwa Co., Ltd
Architect

Capitalization approach price7,160

1st class licensed architect officePrice calculated by the direct
Constructor

Kumagai Gumi Co., Ltd

7,270
Capitalization approach

Previous Owner

Yupitel Godo Corporation

Current Owner

GE Real Estate

Gross income

461

Rental income

404

Other income

57

The Chuo Mitsui Trust ＆Banking Company,
TrusteeLtd
Scheduled expiration date of trust
March 31, 2017

Gross expenses

112

term
ＰＭ Company

M S Building Support Co., Ltd (scheduled)

Maintenance management

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

23

Master lease company-

Type of Master lease-

Water/Utility

36

Expense for commission of building
9
management
Mein Tenant

Nestle Japan
Lease Details （Unit：\ in thousands）

Investigation date

Jan 31, 2007

Total number of tenant3

Tax and public charge

25

Damage Insurance

1

Others1

Leasing advertisement0

Reserve for big-scale repairing
Leasable floor area

6030.2 ㎡

17
expenseLease area

6030.2 ㎡

Monthly rent

28,292

NOI

366

Deposit/Security deposit

307,075

NCF

349

Occupancy rate （based on area）

100.0%

Capitalization rate

4.8%

Price calculated by the discounted cash flow
7,040
approach
Discount rate

4.4%

Terminal cap rate

5.1%

Estimated value

4,710

Land price

3,165

Bldg price

1,545

Scheduled Acquisition Price （Unit：\ in millions）

7,160

Notes
1, The condition of the property is unqualified in terms of floor area ratio, because a part of land was transferred due to a decision to widen the lanes.
2, The land of the said property includes a private road ( about 21.84 ㎡)．
3, A part of the boundary with adjacent land has not been confirmed in writing.

(*) The Investment Corporation makes no warranties as to the accuracy or completeness of the description in thetables of the “Summary of Engineering Report” and “Summary of Real Estate Appraisal Report.”

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

【Appendix１】Photograph of the Scheduled Acquisition Property（１）Lexington Square Shirokane Takanawa(Exterior and Entrance）

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

（２）Spacia Ebisu（Exterior and Entrance）

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

（３）The Palms Yoyogi Uehara Cosmo Terrace（Exterior and Entrance）

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

（４）Sun Terrace Yoyogi Uehara（Exterior and Entrance）

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

（５）Park Habio Shinjuku Gyoen（Exterior and Entrance）

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

（６）New Edobashi Building（Exterior and Entrance）

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

（７）Shuwa Nishi Gotanda Building（Exterior and Entrance）

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

【Appendix 2】Portfolio after Acquisition of the Property（Scheduled）
Investment
Acquisition
Category of

Number of（Scheduled）
Property Name

Properties

Area

Properties

Ratio
Price

Acquisition Date（million（％）yen）

Residential

R-1

City House Tokyo Shinbashi

Greater Tokyo

May 25, 2006

2,790

3.1%

R-2

Pure City Roppongi

Greater Tokyo

May 23, 2006

525

0.6%

R-3

Winbell Kagurazaka

Greater Tokyo

May 23, 2006

3,690

4.1%

R-4

Nishiwaseda Crescent Mansion

Greater Tokyo

May 23, 2006

2,190

2.4%

R-5

Lexington Square Akebonobashi

Greater Tokyo

May 25, 2006

1,600

1.8%

R-6

Montserrat Yotsuya

Greater Tokyo

May 23, 2006

557

0.6%

R-7

Casa Eremitaggio

Greater Tokyo

May 25, 2006

1,240

1.4%

R-8

Homes East Hills

Greater Tokyo

May 23, 2006

521

0.6%

R-9

Lexington Square Shimokitazawa

Greater Tokyo

May 25, 2006

2,700

3.0%

R-10

Homest Ikejiri

Greater Tokyo

May 23, 2006

806

0.9%

R-11

Towa City Cope Shin-otsukaⅡ

Greater Tokyo

May 25, 2006

937

1.0%

R-12

Towa City Cope Asukayama-Koen

Greater Tokyo

May 25, 2006

529

0.6%

R-13

Bichsel Musashiseki

Greater Tokyo

May 23, 2006

703

0.8%

R-14

Lexel Mansion Ueno Matsugaya

Greater Tokyo

May 23, 2006

1,130

1.3%

R-15

Cosmo Nishiojima Grand Stage

Greater Tokyo

May 25, 2006

909

1.0%

R-16

Towa City Cope Sengencho

Greater Tokyo

May 25, 2006

1,240

1.4%

R-17

Royal Park Ohmachi

TohokuMay 25, 2006

564

0.6%

R-18

Lexington Square Hagino-machi

TohokuMay 23, 2006

411

0.5%

R-19

Visconti Kakuozan

Chubu

May 23, 2006

397

0.4%

R-20

Lexington Square Kitahorie

Kansai

May 25, 2006

596

0.7%

R-21

Lexington Square Shinmachi

Kansai

May 25, 2006

421

0.5%

R-22

Luna Coat Tsukamoto

Kansai

May 23, 2006

632

0.7%

R-23

Lexington Square Fushimi

Chubu

October 31, 2006

2,990

3.3%

R-24

Lexington Square Daitabashi

1,019

1.1%

525

0.6%

March 29, 2007

Greater Tokyo(Scheduled)
March 29, 2007

R-25

Lexington Square Honjo-Azumabashi

Greater Tokyo(Scheduled)

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

March 30,2007

R-26

AMS TOWER Minami 6-Jo

Greater Tokyo

1,400

1.6%

(Scheduled)
Lexington Square Shirokane

R-27

March 30,2007

7,660

Greater Tokyo
Takanawa

8.5%(Scheduled)
March 30,2007

R-28

Greater Tokyo

Spacia Ebisu

9,140

10.2%

1,780

2.0%

1,570

1.8%

1,390

1.6%

52,562

58.6%(Scheduled)
The Palms Yoyogi Uehara Cosmo

R-29

March 30,2007

Greater Tokyo
Terrace(Scheduled)
March 30,2007

R-30

Sun Terrace Yoyogi Uehara

Greater Tokyo(Scheduled)
March 30,2007

R-31

Park Habio Shinjuku Gyoen

Greater Tokyo(Scheduled)

Sub-total

Senior

S-1

Bon Sejour Chitose Funabashi

Greater Tokyo

May 25, 2006

791

0.9%

S-2

Bon Sejour Yotsugi

Greater Tokyo

May 25, 2006

765

0.9%

S-3

Bon Sejour Hino

Greater Tokyo

May 25, 2006

699

0.8%

S-4

Bon Sejour Musashi-Shinjo

Greater Tokyo

November 24, 2006

610

0.7%

2,865

3.2%

Sub-total

Others

OfficeO-1

Otsuka Cent Core Building

Greater Tokyo

May 25, 2006

2,540

2.8%

OfficeO-2

Ueno Fujita Estate 1

Greater Tokyo

May 23, 2006

1,840

2.1%

OfficeO-3

Cross Square NAKANOGreater Tokyo

May 23, 2006

1,038

1.2%

RetailO-4

Lexington Plaza Hachiman

TohokuMay 23, 2006

4,760

5.3%

OfficeO-5

Ohki Aoba Building

TohokuMay 25, 2006

847

0.9%

RetailO-6

Loc Town Sukagawa

TohokuMay 23, 2006

2,563

2.9%

RetailO-8

Valor Takinomizu-ten

Chubu

May 23, 2006

2,230

2.5%

Hotel

O-9

Chugoku/Shikoku

November 24, 2006

2,450

2.7%

8,770

9.8%

7,160

8.0%

Sub-total

34,198

38.2%

Total

89,625100.0%

Lexington Plaza Hiroshima
OtemachiMarch 30,2007

Office

O-10

New Edobashi Building

Greater Tokyo（Scheduled）
March 30, 2007

OfficeO-11

Shuwa Nishi Gotanda Building

Greater Tokyo（Scheduled）(*1) “Area” is divided into five sub-areas which consist of prefectures shown below.

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.

Tohoku area: Aomori, Miyagi, Akita, Iwate, Yamagata, Fukushima
Greater Tokyo area: Tokyo, Kanagawa, Saitama, Chiba
Chubu area: Shizuoka, Nagano, Aichi, Niigata, Fukui, Ishikawa, Toyama, Mie, Gifu
Kansai area: Kyoto, Osaka, Hyogo, Shiga, Nara, Wakayama
Chugoku/Shikoku area: Hiroshima, Okayama, Yamaguchi, Tottori, Shimane, Ehime, Kagawa, Kochi, Tokushima(*2) In the column of “(Scheduled) Acquisition Price”, the sale price provided in Transfer Agreement with precedent condition isshown. (Excluding consumption tax etc), and rounded off to the nearest million yen.
(*3) In the column of “Investment Ratio”, each ratio equals each (scheduled) acquisition price divided by grand total (scheduled)acquisition price and is rounded off to the nearest tenth.
(*4) Regarding “O-7 Lexington Plaza Sakae Minami”, it is determined to be transferred as of today. The aforementioned listshows the portfolio after acquisition of the property. Regarding the said sale, please refer to ‘Notice concerning the Sales ofAssets’ announced as of today.

Note: This document is a public announcement regarding the acquisition of assets by the Investment
Corporation and has not been prepared as an inducement or invitation for investment. We caution
readers to undertake investment decisions at their own examination and responsibility.