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.

October 6, 2014
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: Minoru Ishihara, Executive Vice President & Statutory Executive Officer
Tel: 03-3502-4891

Ichigo REIT Portfolio Occupancy (Flash Data) – September 2014
Ichigo Real Estate Investment Corporation (“Ichigo REIT”) hereby announces its portfolio
occupancy as of the end of September 2014:
End of August2014(Final: A)
96.0%

End of September2014(Flash: B)
95.7%

Offices (O)

95.6%

96.0%

+0.4%

Residences (R)

97.2%

97.8%

+0.6%

Others (Z)

96.2%

92.3%

-3.9%

95.8%

96.3%

+0.5%

95.6%95.2%

-0.4%

97.6%

95.0%

-2.6%

95.3%

95.5%

+0.2%

71
519
170,801.53m2
163,920.50m2

70
512
170,300m2
162,900m2-1-7Total
By AssetTypeCentral TokyoTokyo
Metropolitan Area
By Area
Four Major
Regional Cities
Other RegionalCities
No. of Assets
No. of Tenants
Leasable Area
Leased Area

Difference
(B-A)
-0.3%

(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
New tenant leases at Ichigo Hanzomon Building and Ichigo Eitai Building contributed toimproved occupancy in Offices and Central Tokyo. Meanwhile, lease termination of one tenant
at Falcon Shinsaibashi Building decreased occupancy in Others and Four Major Regional Cities.
As announced in “Sale of Portfolio Asset” on September 30, 2014, Ichigo REIT profitably soldthe Ichigo Kudan-Minami Building, increasing the efficiency of its asset management activities
by selling sub-scale assets. Ichigo REIT’s portfolio asset count and leasable area has thus had aminor decrease from this month.
Leasing and Value Enhancement Activities
Ichigo REIT conducted a value-add renovation of the elevator hall and other common areas on avacant office floor of Ichigo Nakano North Building. Upon completion of the renovation, Ichigo
REIT held a private viewing for leasing brokers, which garnered high reviews not only for thenewly-renovated areas, but also for the building’s overall functionality and competitiveness, suchas its attractive exterior and clean interiors. The value-add renovation has heightened the Ichigo
Nakano North Building’s competitiveness, and Ichigo REIT will work towards a rapid lease-up.
Ichigo Nakano North BuildingWebsite of Ichigo REIT: www.ichigo-reit.co.jp/english2