March 16, 2020
For Immediate Release
Real Estate Investment Trust Securities Issuer:
Comforia Residential REIT, Inc
1-1 Minami-Aoyama 1-chome, Minato-ku, Tokyo
Takehiro Izawa
Executive Director(Code: 3282)
Asset Management Company:
TLC REIT Management Inc.
Hiroyuki Tohmata
President & CEO
Inquires:
Kentaro Yoshikawa
General Manager of Strategy Department
Comforia Management Division(TEL: +81-3-6455-3388)

Notice Concerning Acquisition of Investment Asset (COMFORIA NISHIMAGOME HILLSIDE)

Comforia Residential REIT, Inc (“CRR”) announces that TLC REIT Management Inc. (“TRM”), to which
CRR entrusts management of its assets decided today for CRR to acquire the investment asset as shown below.
1. Summary of the Acquisition
No.

Type of Asset

Property Name

Acquisition Price(thousand yen)
(Note 1)

1

COMFORIA NISHIMAGOME HILLSIDE

Real Estate(Note 2)

Total

1,330,000
1,330,000(Note 1) “Acquisition Price” denotes the amount exclusive of the various expenses required in the acquisition of theconcerned asset, etc. (brokerage commission, taxes and public dues, etc.) (the amount of real estate or
beneficial interest in real estate trust specified in the Agreement on Purchase and Sale).
(Note 2) Although the current property name is “CONCIERIA NISHIMAGOME HILLSIDE SQUARE”, CRR plans tochange the name to “COMFORIA NISHIMAGOME HILLSIDE” about one month after the acquisition. The
current property name will be omitted hereinafter

①
②
③
④
⑤

Date of Agreement
Date of Acquisition
SellerFinancing for acquisition
Method of payment

March 17, 2020
March 30, 2020
Refer to “4. Summary of the Seller”
Borrowed funds (Note)
Full payment at the time of delivery(Note) For the borrowed funds, CRR will announce concerning the borrowings after its decision.

2. Reason for the Acquisition
TRM decided to acquire the investment asset based on asset management class and policy described inbylaws to ensure stable earnings and steady growth of the portfolio. On deciding to acquire the investment
asset, TRM evaluated the features of the property, etc. of the asset stated in “3. Summary of the Asset to be
Acquired.”
3. Summary of the Asset to be Acquired(1)

Details of the Asset-1-Property Name

COMFORIA NISHIMAGOME HILLSIDE

Type of Asset

Real Estate

Trustee of Beneficial Trust (planned)
Expiration Date of Beneficial Trust Contract(planned)
Location (Residential address) (Note 1)―

Area (Note 1)

Land

Building―
1-30-8 Nishimagome, Ota-ku, Tokyo
861.18 m2

Type of Ownership

OwnershipCompletion Date (Note 1)
Structure / Number of Floors(Note 1)Gross Floor Area (Note 1)

July, 2015
(Main building) RC / 6F
(Accessory building) RC / 1F
1,528.74 m2

Type of Ownership

Ownership

Use (Note 1)
Property Management Company (Note 2)(planned)
Master Leasing Company (Note 3)(planned)
Master Leasing Type (planned)
Appraisal Company

Apartment building / Parking / Bicycle parking
Tokyu Housing Lease Corporation
Tokyu Housing Lease Corporation
Pass-through type
Japan Real Estate Institute

Appraisal Value

1,400,000 thousand yen (Appraisal Date: January 1, 2020)

Collateral

None
None

Special affairs (Note 4)

The property comprised of mainly single-type rooms is located a 4-minute walkfrom Nishi-magome Station on the Toei Asakusa Line It takes an approximately
19-minute train ride to Shimbashi Station and an approximately 21-minute trainride to Higashi-ginza Station, which realizes good access to major business andcommercial zones. The Magome area where the property is located is on thesouthern end of Musashino Plateau, and the property is located on a quiet hill
Features of the Property
where there are many detached houses and low-rise apartment buildings. On theother hand, supermarkets, convenience stores, restaurants, etc. are located in thesurrounding area of Nishi-Magome Station, offering excellent living
convenience. Given these features, solid rental demand is expected mainly fromsingles who place a primary emphasis on proximity city-center and a pleasantresidential environment, etc.
Summary of Rental Status (as of February 29, 2020) (Note 5)
Rentable Area

1,333.36 m2

Rented Area

1,307.55 m2

Occupancy Rate

98.1%

Rentable Units

47 Units

Rented Units

46 Units

Total Number of Tenants

1

Total Monthly Rent

5,155 thousand yen

Security Deposit

4,682 thousand yen

Summary of the Engineering Report (Note 6)
Reporting Company

HI International Consultant Co., Ltd

Report Date
Estimated Amountof Emergency Repair Expenses
Estimated Amountof Short-Term Repair Expenses
Estimated Amountof Long-Term Repair Expenses

January, 2020―
190 thousand yen
24,830 thousand yen-2-Replacement Value

412,000 thousand yen

Summary of the Earthquake Risk Analysis (Note 7)
PML Reporting Company

Sompo Risk Management Inc.

Report Date

February, 2020

PML

7.98%

Architect/Contractor/Building Permit Agency, etc. (Note 8)
Architect

Shinyasekkei Co., Ltd.

Contractor

Shioda Construction Co., Ltd.

Building Permit Agency
Investment Agency or Structural
Calculation Fitness Judge, etc.

Kakunin Service Inc.
The Japan Building Equipment and Elevator Center Foundation(Note 1) “Location” is based on the residential address. However, for properties that have no residential address, the building address on
the registry is indicated. In addition, “Area” of “Land,” “Completion Date,” “Structure / Number of Floors,” “Gross Floor Area”
and “Use” of building are based on information in the real estate registry, and may not necessarily be identical with the actual
figures. “Gross Floor Area” of building denotes the area of the entire building (excepting annexes).
(Note 2) “Property Management Company” is the company that is scheduled to provide property management service for each property.
(Note 3) “Master Leasing Company” is the lessee that is scheduled to conclude a master lease agreement with the titleholder of each property.
(Note 4) “Special affairs” are matters recognized as important, regarding the right and use, etc. of the asset, as well as consideration of thedegree of impact on the appraised value, profitability, and appropriation. They include the following matters:i Significant limitation or restriction by laws, regulations and rules
ii Significant burdens or limitations on rights, etc.
iii Significant cases where there are architectural structures crossing the boundaries of the concerned property, etc. and cases
where there are issues with boundary confirmation, etc., and related arrangements, etc.
iv Significant agreements, arrangements, etc. concluded with co-owners / sectional owners.
(Note 5) Explanation of “Summary of Rental Status”
i “Rentable Area” is the total rentable floor area of residences and retail stores, etc. of the asset (if the common area, etc. isleased, the concerned area is also included).“Rentable Area” for Non-Pass-through type master lease agreements (master leaseagreements (defined in ii below) other than Pass-through type master lease agreements (defined in ii below)) is the rentablearea based on the lease agreement concluded between the Investment Corporation or Trustee of Beneficial Trust and theMaster Leasing Company. The Rentable Area is not based on the real estate registry, but the floor area stated in the leaseagreement or the floor area calculated from the building as-built drawing, etc., and may not necessarily be identical to thefloor area written in the real estate registry.
ii In the following cases, “Rented Area” means the floor area (based on the floor area in the lease agreement; however, limited
to the floor area of residences and retail stores, etc. (when all units are leased in bulk, the floor area of the entire leased units)
and excluding the leased area of parking lots) that is actually leased and a lease agreement is executed with the end-tenant.
Cases where all or some units are leased in bulk, based on the lease agreement (“Master Lease Agreement”), and the Master
Leasing Company in Master Lease Agreement subleases end-tenants, besides there is an agreement under which the rent ofMaster Lease Agreement is in accordance with the rent, etc. that end-tenants paid (hereafter this type of Master Lease
Agreement is referred to as “Pass-through type Master Lease Agreement”). “Rented Area” for Non-Pass-through type master
lease agreements is the rented area based on the lease agreement concluded between CRR or Trustee of Beneficial Trust andthe Master Leasing Company.
iii “Occupancy Rate” is the rate of rented area to rentable area.
iv “Rentable Units” is the number of rentable units (including the number of stores, if any). “Rentable Units” for Non-Passthroughtype master lease agreements are the number of units that the Master Leasing Company can sublease.
v“Rented Units” is the number of rented units (which includes the number of stores, if any) that is actually leased and a leaseagreement is executed with the end-tenant. “Rented Units” for Non-Pass-through type master lease agreements is the numberof units leased to the Master Leasing Company.
vi “Total Number of Tenants” is the number of tenants with which CRR or Trustee of Beneficial Trust has a direct rental contract
relationship (including a direct rental contract relationship to be concluded). Therefore, when CRR or Trustee of Beneficial
Trust leases comprehensively to the Master Leasing Company all units of the acquired property, and the Master Leasing
Company subleases each unit to end-tenants, the Total Number of Tenants is 1; that is, the end-tenants of the subleaseagreements are excluded. With regard to the properties to be acquired, a master lease agreement is scheduled to be concluded
with Tokyu Housing Lease Corporation as the master leasing company on the acquisition date of the properties. The “total
number of tenants” above is therefore the number of tenants after such a master lease agreement is concluded.
vii When the Master Leasing type is a Pass-Through type Master Lease Agreement, “Total Monthly Rent” means the totalmonthly rent, as of February 29, 2020 (including the common area expense, but not fees for incidental facilities such as parking
lot or trunk room) stated in the lease agreements executed by the Master Leasing Company, or the owner of each real estateor real estate in real estate trust with end-tenants. In addition, in the case that the master leasing type is a non-pass-throughmaster lease agreement, the monthly rent (common area expense are included (except when the common area expense is nota fixed amount.), except for parking lots, trunk rooms and other ancillary facilities.) based on the lease agreement between
CRR or the Trustee of Beneficial Trust and the Master Leasing Company is stated. Amounts are rounded down to the nearest
thousand yen. Consumption tax and other taxes are excluded.
viii In the case that the master leasing type is a Pass-Through type Master Lease Agreement, “Security Deposit” is the total amountof balance of Security Deposit, as of February 29 , 2020, based on lease agreements executed with the end-tenants, rounded
down to the nearest thousand yen. However, if all or a part of a Deposits, guarantees does not need to be repaid according to
special policy conditions such as the redemption of the deposit in a lease agreement, the amount of such Security Deposit is
excluded.
In addition, in the case that the Master Leasing type is a Non-Pass-Through type Master Lease Agreement, the Security
Deposit, guarantees based on the lease agreement between CRR or the Trustee of Beneficial Trust and the Master Leasing
Company are stated.
(Note 6) This section is a summary of the Engineering Report on the acquired asset prepared by the reporting company which

is a third party with no special interest in CRR. However, the content of the report is simply the opinion of the-3-

reporting company above, and CRR does not guarantee the adequacy and accuracy of the content.
i“Estimated Amount of Emergency Repair Expenses” is the amount of repair and renewal costs expected to emergently arise,and is stated in the engineering report. Amounts are rounded down to the nearest thousand yen.
ii “Estimated Amount of Short-term Repair expenses” is the amount of repair and renewal costs that are assumed to be required
within one year, and is stated in the engineering report. Amounts are rounded down to the nearest thousand yen.
iii “Estimated Amount of Long-term Repair expenses” is the amount of repair and renewal costs that are assumed to be requiredfor 12 years, and is stated in the engineering report. Amounts are rounded down to the nearest thousand yen.
iv “Replacement Value” is the estimated money amount provided in the Engineering Report of construction work required if theacquired asset with the same design and the same specifications were to be newly constructed at the time when the report was
prepared. However, the content of the report is simply the opinion of the reporting company above, and CRR does notguarantee the adequacy or accuracy of the content. All amounts are rounded down to the nearest thousand yen.
(Note 7) This section is a summary of the “Earthquake Risk Analysis” report on the acquired asset prepared by the PML reporting company
which is a third party with no special interest in CRR. However, the content of the report is simply the opinion of the PML reporting
company above, and CRR does not guarantee the adequacy or accuracy of the content. “PML” is the probable maximum loss froman earthquake. There is a PML for individual buildings and for the entire portfolio of buildings. In this document, PML is the
expected loss (which is equivalent to the 90% non-exceedance probability) as a percentage of the replacement price, and denotes
the costs incurred during the anticipated usable period (generally, the duration of a building is 50 years) from an expected largescale earthquake (which corresponds to a return period of 475 years; the possibility of the earthquake occurring during the next 50
years exceeds 10%).
(Note 8) In “Architect/Contractor/Building Permit Agency, etc.,” the architect, the contractor, the building permit agency and the investment
agency or structural calculation fitness judge, etc. of the asset to be acquired is stated. As a general rule, CRR has asked a specialized
third-party organization to make an inspection and received a report stating that there is no wrongful act such as the intentional
falsification and forgery of documents related to structural design (structural drawings and structural calculation sheets, etc.).
However, the content of the report is simply an opinion of the third-party organization, and CRR does not guarantee the adequacy
and accuracy of the content. For properties that have received from the specified structural calculation fitness judgment agency the
judgment that the structural calculation is appropriately conducted according to the methods prescribed by the Minister of Land,
Infrastructure, Transport and Tourism in accordance with the Building Standards Act revised in June 2007 (Act No. 201 of 1950.
Including subsequent revisions), the specified structural calculation fitness judgment agency constitutes a specialized third-party
organization.

(2) Summary of the Appraisal Report(thousand yen)
COMFORIA NISHIMAGOME HILLSIDE
Japan Real Estate Institute
January 1, 2020
1,400,000

Property Name
Appraisal Company
Appraisal Date
Appraisal Value

Income Approach Value
Price of the Direct
Capitalization Method ((6)/(7))(1) Operating Income
Potential Gross Income
Rental Income(including common
area expense)
Utility Charge Income
Parking Lot Income
Key Money / Renewal
IncomeOther Income(2)

Appraisal summary

Content
1,400,000
1,410,000
70,28573,33069,2130812

Calculated with consideration of the average income according to ongoingrental agreements as well as the assumed income level of new rents.

3,305
0

Vacancy Loss

▲3,045

Collection Loss
Operating Expense
Maintenance andManagement Fee
Utility Charge

013,732

Repair Cost

1,226

Property Management
Fee

1,678

3,230
629

Calculated with consideration of occupancy rates in the past and those ofsimilar properties in the same market area.
Collection loss has not been calculated.
Calculated with consideration of the characteristics of the property,
referring to fees for similar properties as well as actual fees in previous
years.
Expenses for restoring rooms to their original conditions are calculatedwith consideration of the level of expenses that are typically incurred,
while repair costs are calculated with consideration of the cost level insimilar properties, and average repair costs presented in engineering
reports.
Calculated with consideration of commissions for managing similar
properties and the property’s characteristics, referring to the tariff of

-4-

(3)

Tenant Advertisement
Cost

2,865

Taxes and Public Dues

3,273

Insurance

211

Other Expenses
Net Operating Income(NOI, (1)-(2))(4) Interest on Security
Deposit

620

(5)
(6)

(7)

Capital Expenditure

Net Cash Flow
(NCF, (3)+(4)-(5))

Cap Rate

Price of the DCF Method

56,55351
1,448

Assumed in consideration of rental conditions for ongoing and newcontracts, as well as occupancy rates and yields on deposits.
Appraised in consideration of capital expenditure in similar properties,building ages, and the average renovation expenses per year in engineering
reports.

55,156

3.9%

Appraised based on basic yields for the respective areas, adjusted withspreads calculated from the geographical and social conditions of theproperty’s location, conditions of the building, and other factors, whileconsidering future uncertainties, yields on trades pertaining to similar
properties, etc.

1,390,000

Discount Rate

3.6%

Terminal Cap Rate

4.0%

Cost Approach Value
Total Value of Land andBuilding

1,330,000

Land Value

930,000

Building Value

338,000

Adjustment for Change

105%

Other matters taken into
consideration by appraisal
institutions when issuing
appraisalscommissions of the property management company.
Calculated with consideration of such factors as average replacement rateof residents per year and occupancy rates, while referring to the conditionsof ongoing agreements and rental agreements of similar properties.
Appraised referring to the standard amount of taxation for the property.
Calculated with consideration of insurance premium rates of those forsimilar properties.
Calculated with consideration of the management of current assets.

Appraised in full consideration of the characteristics of the property andother factors, referring to yields on investments in similar properties.
Appraised in full consideration of future trends in yields on investments,
possible risks from investment in the property, general forecasts on future
economic growth, trends in property prices and rents, and other factors,
while referring to yields on trade pertaining to similar properties.

1,268,000
Appraised based on actual trade prices, calculated using a market
comparison approach method.
Appraised based on a cost approach method, where new prices for
repurchasing properties are multiplied by a discount rate that has been
decided from current situations and regional characteristics.
Appraised in consideration of marketability etc.

Income approach value is adopted based on the determination that it is more convincing to use
income approach value as it precisely recreates a value building process in terms of
profitability, while the cost approach is used only for reference.

(Note) “Summary of the Appraisal Report” is the appraisal value described in the respective real estate appraisal reports that were preparedby Japan Real Estate Institute based on an important notice concerning real estate appraisal in the context of the Act on Investment
Trusts and Investment Corporations, the Act on Real Estate Appraisal (Act No. 152 of 1963. Including subsequent revisions) andreal estate appraisal standards. The appraisal value is the judgment and opinion of the appraiser at a fixed point in time, with noguarantees as to the validity or accuracy of the report, nor to the possibility of transactions at the appraised value.

4．Summary of the Sellers
The seller is an individual in Japan, but the details aren’t disclosed by the intention of the one. The seller is
not an interested party of TRM or CRR.
5. Ownership History of Asset
Description is omitted because the acquisition of the asset is not an acquisition from any persons having a
special interest in CRR or TRM.
6. TRM’s Interested Parties in the Asset to be Acquired
CRR plans to entrust the master leasing and property management service in relation to the assets to beacquired to Tokyu Housing Lease Corporation, which are interested parties in relation to TRM. Therefore, the-5-procedures required in accordance with the bylaws were completed with respect to agreements with thesecompanies.
7. Summary of Brokerage
Brokerage is an operating company in Japan which is not an interested party of TRM or CRR.
8. Forecast
For the earnings forecasts for fiscal period ending July 31, 2020 (February 1, 2020 - July 31, 2020) and fiscal
period ending January 31, 2021 (August 1, 2020 – January 31, 2021) as a result of the Acquisition, pleaserefer to the “Financial Results for the Fiscal Period Ended January 31, 2020” released today.

*The original Japanese version of this press release has been distributed to the press club of TSE (Kabuto Club), the Ministryof Land, Infrastructure, Transport and Tourism, and to the press club of the construction trade newspaper of the Ministryof Land, Infrastructure, Transport and Tourism.
*Website of CRR: https://www.comforia-reit.co.jp/en/-6-Attachments
1. Portfolio List
2. Exterior Image and Map of the Asset to be Acquired-7-

Attachment 1. Portfolio List
Area (Note 1)

CentralTokyo

CentralTokyo

Property Name

Location (Residential address)

COMFORIANIHONBASHININGYOCHO

3-5-10 Nihonbashi Ningyocho, Chuoku, Tokyo

COMFORIA WASEDA

147 Bentencho, Shinjuku-ku, Tokyo

COMFORIA SHIMOOCHIAI

2-7-10Tokyo

Nakaochiai,

Shinjuku-ku,

COMFORIA HIGASHINAKANO

4-34-2
Tokyo

Kitashinjuku,

Shinjuku-ku,

COMFORIA GINZA EAST

1-3-1 Irifune, Chuo-ku, Tokyo

COMFORIA AZABUDAI

3-4-4 Azabudai, Minato-ku, Tokyo

COMFORIA SHIBAKOEN

2-2-15 Shibakoen, Minato-ku, Tokyo

COMFORIA NISHIAZABU

4-1-10 Nishiazabu, Minato-ku, Tokyo

COMFORIA MINAMIAOYAMA

4-1-12 Minamiaoyama, Minato-ku,
Tokyo

COMFORIA NISHIWASEDA

1-5-19 Takadanobaba, Shinjuku-ku,
Tokyo

COMFORIA HARAJYUKU

3-61-3 Sendagaya, Shibuya-ku, Tokyo

COMFORIA MITA NORTH

2-7-16 Mita, Minato-ku, Tokyo

COMFORIA
SHIBAURA BOWHOUSE

3-13-12 Kaigan, Minato-ku, Tokyo

COMFORIASHIROKANETAKANAWA

5-1-21 Mita, Minato-ku, Tokyo

COMFORIANIHONBASHININGYOCHO
EAST

3-6-3 NihonbashiNingyocho, Chuoku, Tokyo

COMFORIA ATAGO

3-23-7 Toranomon, Minato-ku, Tokyo

COMFORIA KUDAN

2-6-12 Kudanminami, Chiyoda-ku,
Tokyo

COMFORIANIHONBASHININGYOCHO
NORTH

1-1-6 NihonbashiHoridomecho, Chuoku, Tokyo

COMFORIA SHINKAWA

2-15-5 Shinkawa, Chuo-ku, Tokyo

COMFORIA AKASAKA

2-17-63 Akasaka, Minato-ku, Tokyo

COMFORIA MITA EAST

4-18-1 Shiba, Minato-ku, Tokyo

COMFORIA SHIBAURA CANAL

3-1-9 Kaigan, Minato-ku, Tokyo-8-

Type of Asset
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust

Acquisition
Price (million
yen) (Note 2)

Share(Note 3)

1,586

0.7%

1,900

0.8%

1,181

0.5%

552

0.2%

3,059

1.3%

574

0.2%

1,398

0.6%

755

0.3%

1,041

0.4%

1,685

0.7%

3,629

1.5%

850

0.4%

2,650

1.1%

1,300

0.5%

2,139

0.9%

826

0.3%

1,280

0.5%

1,108

0.5%

1,840

0.8%

1,945

0.8%

3,190

1.3%

1,570

0.6%

COMFORIA KITASANDO

4-5-10 Sendagaya, Shibuya-ku, Tokyo

COMFORIA YOYOGIUEHARA

2-31-5 Uehara, Shibuya-ku, Tokyo

COMFORIA SASAZUKA

1-59-10 Sasazuka, Shibuya-ku, Tokyo

COMFORIA
SHINJUKUGYOENⅡ

1-13-3 Shinjuku, Shinjuku-ku, Tokyo

COMFORIA
ICHIGAYAYANAGICHO

18-2 Ichigayayanagicho, Shinjuku-ku,
Tokyo

COMFORIA KAGURAZAKA

26-1 Iwatocho, Shinjuku-ku, Tokyo

COMFORIA NIBANCHO

4-8 Nibancho, Chiyoda-ku, Tokyo

COMFORIA NISHISHINJUKU

1-20-12 Kitashinjuku, Shinjuku-ku,
Tokyo

COMFORIA KANDAJINBOCHO

1-42-2 Kandajinbocho
Tokyo,

COMFORIA NIHONBASHI

1-2-2 Nihonbashibakurocho, Chuo-ku,
Tokyo

COMFORIA TAMACHI

4-5-13 Shibaura, Minato-ku Tokyo

COMFORIA AZABUJUBAN

1-2-15 Mita, Minato-ku, Tokyo

COMFORIA
SHINJUKUGYOENⅠ

1-10-4 Shinjuku, Shinjuku-ku, Tokyo

COMFORIA
KAGURAZAKA DEUX

7-3 Iwatocho, Shinjuku-ku, Tokyo

COMFORIA AZABU EAST

2-29-1
Tokyo

Higashiazabu,

Chiyoda-ku

Minato-ku,

Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust

4,268

1.8%

1,560

0.6%

1,789

0.7%

1,806

0.7%

1,623

0.7%

736

0.3%

1,621

0.7%

1,625

0.7%

1,434

0.6%

1,956

0.8%

3,272

1.3%

1,471

0.6%

1,406

0.6%

1,245

0.5%

1,900

0.8%

（Tower Building）
6-27-29 Shinjuku, Shinjuku-ku, Tokyo
COMFORIA SHINJUKUEASTSIDE TOWER（Annex Building）
6-27-28 Shinjuku, Shinjuku-ku, Tokyo

Beneficial
Interest in Real
Estate Trust

13,264

5.5%（Gate Building）
6-27-14 Shinjuku, Shinjuku-ku, Tokyo

CentralTokyo

COMFORIA
ICHIGAYAYAKUOJI

74-23
Ichigayayakuojimachi,
Shinjuku-ku, Tokyo

COMFORIA AKIHABARA
EAST

2-9-19Tokyo

COMFORIA MITA TROIS

3-43-6 Shiba, Minato-ku, Tokyo

COMFORIA SHIBAURA

2-3-33 Shibaura, Minato-ku, Tokyo

COMFORIA SHINJUKU

5-8-20, Shinjuku, Shinjuku-ku, Tokyo

COMFORIAHIGASHINIHONBASHI

3-6-4 Higashi-Nihonbashi, Chuo-ku,
Tokyo

Higashikanda,-9-

Chiyoda-ku,

Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust

941

0.4%

4,425

1.8%

890

0.4%

Real Estate

1,065

0.4%

2,150

0.9%

1,194

0.5%

Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate TrustCOMFORIA
GINZA EAST NIBANKAN

2-1-8 Minato, Chuo-ku, Tokyo

COMFORIAHIGASHISHINJUKU STATION
FRONT

7-27-12 Shinjuku, Shinjuku-ku, Tokyo

COMFORIA NAKAOCHIAI

2-16-29
Tokyo

COMFORIA
WASEDA DEUX

173 Bentencho, Shinjuku-ku, Tokyo

Nakaochiai,

Shinjuku-ku,

Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust

Subtotal
Sub-centralTokyo

Sub-central
Tokyo

COMFORIA BUNKYOKASUGA

1-15-12 Nishikata, Bunkyo-ku, Tokyo

COMFORIAASAKUSAMATSUGAYA

1-11-5 Matsugaya, Taito-ku, Tokyo

COMFORIA NISHIOI

6-6-1 Nishioi, Shinagawa-ku, Tokyo

COMFORIA NAKANO

2-40-12Tokyo

COMFORIA SHIMOKITAZAWA

1-9-14 Hanegi, Setagaya-ku, Tokyo

COMFORIA NISHIKAMATA

6-37-3 Nishikamata, Ota-ku, Tokyo

COMFORIA OYAMA

4-4 Oyamacho, Itabashi-ku, Tokyo

COMFORIA
KIYOSUMISHIRAKAWA
SOUTH

3-2-13 Miyoshi, Koto-ku, Tokyo

COMFORIA KOMAZAWA

2-1-5 Komazawa, Setagaya-ku, Tokyo

COMFORIA KOISHIKAWA

2-17-27
Tokyo

COMFORIA SENGOKU

4-3-20 Sengoku, Bunkyo-ku, Tokyo

COMFORIA
DAIKANYAMAAOBADAI

2-1-7 Aobadai, Meguro-ku, Tokyo

COMFORIA IKEBUKURO

2-57-1 Ikebukuro, Toshima-ku, Tokyo

COMFORIA
RYOGOKUISHIWARA

1-36-1 Ishiwara, Sumida-ku, Tokyo

COMFORIAASAKUSABASHI DEUX

5-24-10Tokyo

COMFORIA OSHIAGE

4-7-2 Narihira, Sumida-ku, Tokyo

COMFORIA
HONJOAZUMABASHI

2-11-12 Honjo, Sumida-ku, Tokyo

COMFORIA
KIYOSUMISHIRAKAWA TROIS

3-5-14 Shirakawa, Koto-ku, Tokyo

COMFORIAMONZENNAKACHO

16-8 Fuyuki, Koto-ku, Tokyo

Kamitakada,

Koishikawa,

Nakano-ku,

Bunkyo-ku,

Asakusabashi,- 10 -

Taito-ku,

Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust

2,380

1.0%

5,540

2.3%

1,489

0.6%

1,056

0.4%

98,168

40.5%

1,470

0.6%

910

0.4%

902

0.4%

881

0.4%

2,587

1.1%

1,550

0.6%

1,987

0.8%

740

0.3%

1,290

0.5%

552

0.2%

1,219

0.5%

926

0.4%

602

0.2%

651

0.3%

874

0.4%

714

0.3%

762

0.3%

873

0.4%

2,658

1.1%

Sub-central
Tokyo

COMFORIA HIMONYA

2-3-3 Himonya, Meguro-ku, Tokyo

COMFORIA MISYUKU

3-23-2 Ikejiri, Setagaya-ku, Tokyo

COMFORIAGAKUGEIDAIGAKU

6-46-6Tokyo

COMFORIAHIGASHINAKANO DEUX

4-2-19 Higashinakano, Nakano-ku,
Tokyo

COMFORIAHIGASHIIKEBUKURO WEST

3-22-21 Higashiikebukuro, Toshimaku, Tokyo

COMFORIA RYOGOKU DEUX

1-2-10 Chitose, Sumida-ku, Tokyo

COMFORIA OMORI DEUX

3-4-2 Omorikita, Ota-ku, Tokyo

COMFORIA MACHIYA

5-51-7 Arakawa, Arakawa-ku, Tokyo

COMFORIA ASAKUSABASHI

2-20-10 Yanagibashi, Taito-ku, Tokyo

COMFORIA RYOGOKU SOUTH

2-14-8 Chitose, Sumida-ku, Tokyo

COMFORIA TOYOSU

1-4-12 Edagawa, Koto-ku, Tokyo

COMFORIA
SUMIDA-TACHIBANA

5-18-5 Tachibana, Sumida-ku, Tokyo

COMFORIA UENOHIROKOJI

3-17-4 Ueno, Taito-ku, Tokyo

COMFORIA
KASUGATOMISAKA

1-11-18 Kasuga, Bunkyo-ku, Tokyo

COMFORIA HONKOMAGOME

2-29-24 Honkomagome, Bunkyo-ku,
Tokyo

COMFORIA MORISHITA

3-6-8 Shinohashi, Koto-ku, Tokyo

COMFORIA KIBAKOEN

2-17-7 Kiba, Koto-ku, Tokyo

COMFORIA
MEGURO CHOJAMARU

2-6-25Tokyo

COMFORIA NISHIMAGOME

2-35-8 Nishimagome, Ota-ku, Tokyo

COMFORIAHIGASHIIKEBUKURO EAST

2-8-1 Higashiikebukuro, Toshima-ku,
Tokyo

COMFORIAHIGASHIIKEBUKURO

4-3-5 Higashiikebukuro,
ku,Tokyo

COMFORIA KOMABA

4-8-25 Ikejiri, Setagaya-ku, Tokyo

COMFORIA KINSHICHO

3-8-6 Taihei, Sumida-ku, Tokyo

COMFORIA
MINAMISUNAMACHI

4-4-20 Miamisuna, Koto-ku, Tokyo

Shimouma,

Kamiosaki,- 11 -

Setagaya-ku,

Shinagawa-ku,

Toshima-

Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust

1,189

0.5%

1,874

0.8%

1,138

0.5%

833

0.3%

3,911

1.6%

1,014

0.4%

1,188

0.5%

594

0.2%

2,680

1.1%

1,240

0.5%

3,096

1.3%

938

0.4%

1,050

0.4%

2,912

1.2%

1,344

0.6%

1,530

0.6%

956

0.4%

1,972

0.8%

990

0.4%

1,712

0.7%

1,132

0.5%

5,000

2.1%

1,042

0.4%

4,681

1.9%

Sub-central
Tokyo

COMFORIAHIGASHISHINAGAWA

3-22-11, Higashishinagawa,Shinagawa-ku, Tokyo

COMFORIA
MEGUROYAKUMO

1-12-10 Yakumo, Meguro-ku, Tokyo

COMFORIA YOGA

3-24-3 Yoga, Setagayaku-ku, Tokyo

COMFORIA
ITABASHINAKAJUKU

62-2 Nakajuku, Itabashi-ku, Tokyo

COMFORIA
SHINAGAWA EAST

1-20-8 Kitashinagawa, Shinagawa-ku,
Tokyo

COMFORIA OJIMA

4-8-10 Ojima, Koto-ku, Tokyo

COMFORIA OMORI TROIS

3-36-7 Omorikita, Ota-ku, Tokyo

COMFORIA
BUNKYOHAKUSAN

1-3-2 Honkomagome,
Tokyo

COMFORIA KAMATA

4-21-2 Kamata, Ota-ku, Tokyo

COLLEGE COURTHACHIMANYAMA

1-15-1Tokyo

COMFORIA UENOIRIYA

2-6-8 Ryusen, Taito-ku, Tokyo

COMFORIA IKEJIRI

2-31-18 Ikejiri, Setagaya-ku, Tokyo

COMFORIA
SETAGAYAKAMIUMA

3-6-11 Kamiuma, Setagaya-ku, Tokyo

COMFORIA
AKABANEIWABUCHI

26-11 Iwabuchimachi, Kita-ku, Tokyo

COMFORIA RYOGOKU TROIS

1-5-15 Kamezawa, Sumida-ku, Tokyo

COLLEGE SQUAREHACHIMANYAMA

1-15-2 Kamitakaido, Suginami-ku,
Tokyo

COMFORIA
KINSHICHO DEUX

2-10-20 Mori, Koto-ku, Tokyo

COMFORIA
KAMEIDO SOUTH

6-25-5 Kameido, Koto-ku, Tokyo

COMFORIASHIBUYA WEST

4-4-5 Aobadai, Meguro-ku, Tokyo

COMFORIAASAKUSAKOMAGATA

2-4-7 Komagata, Taito-ku, Tokyo

COMFORIAOMORIKASHIMA

6-20-10 Oi, Shinagawa-ku, Tokyo

COMFORIA OMORIMACHI

4-11-5 Omori-nishi, Ota-ku, Tokyo

COMFORIA KAMIIKEDAI

5-7-22 Kamiikedai, Ota-ku, Tokyo

CAMPUSVILLAGE SHIINAMACHI

3-2-19 Nagasaki, Toshima-ku, Tokyo

Kamitakaido,- 12 -

Bunkyo-ku

Suginami-ku,

Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust

1,510

0.6%

813

0.3%

1,041

0.4%

3,794

1.6%

1,430

0.6%

Real Estate

2,110

0.9%

Real Estate

866

0.4%

1,330

0.5%

5,721

2.4%

1,245

0.5%

2,173

0.9%

1,313

0.5%

2,622

1.1%

2,500

1.0%

1,660

0.7%

880

0.4%

2,213

0.9%

2,050

0.8%

5,397

2.2%

1,254

0.5%

864

0.4%

1,096

0.5%

1,842

0.8%

2,740

1.1%

Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Real Estate
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate TrustCOMFORIA TAKINOGAWA

7-48-2 Takinogawa, Kita-ku, Tokyo

COMFORIAKIBASHINSUIKOEN

3-11-13 Kiba, Koto-ku, Tokyo

COMFORIANISHIMAGOME HILLSIDE

1-30-8 Nishimagome, Ota-ku, Tokyo

Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust

3,430

1.4%

1,294

0.5%

1,330

0.5%

120,685

49.8%

606

0.2%

626

0.3%

1,077

0.4%

978

0.4%

4,150

1.7%

2,220

0.9%

9,657

4.0%

2,400

1.0%

660

0.3%

1,250

0.5%

1,435

0.6%

1,980

0.8%

1,567

0.6%

1,289

0.5%

1,719

0.7%

1,700

0.7%

Subtotal

14,000

5.8%

Total

242,510100.0%

Real Estate

Subtotal
Tokyo
Metropolitan
Area

COMFORIA
ICHIKAWAMYODEN

1-9-10 Shioyaki, Ichikawa-shi, Chiba

COMFORIA YATSUKA

3-38-3 Sezaki, Soka-shi, Saitama

COMFORIA SHINKOYASU

2-216-2 Koyasudori, Kanagawa-ku,
Yokohama-shi, Kanagawa

COMFORIA GYOTOKU

2-1-13 Gyotokuekimae, Ichikawa-shi,
Chiba

GRANCREER
MINAMI40-3 Chigasaki Chuo, Tsuzuki-ku,
Yokohama-shi, Kanagawa

CENTER-COMFORIA TAMA-PLAZA

2-12-1 Utsukushigaoka,
Yokohama-shi, Kanagawa

Aoba-ku,

Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust

Subtotal
Other Major
CitiesOther Major
CitiesCOMFORIA SHIN-OSAKA

1-21-24 Higashinakajima,
Higashiyodogawa-ku, Osaka-shi,
Osaka

COMFORIA KITASANJO

2-2-51 Kitasanjohigashi, Chuo-ku,
Sapporo-shi, Hokkaido

COMFORIA SAPPOROSHOKUBUTSUEN

10-1-6 Kitanijonishi, Chuo-ku,
Sapporo-shi Hokkaido

COMFORIA OGIMACHI

3-7-15 Tenjinbashi, Kita-ku, Osakashi, Osaka

COMFORIASHINSAIBASHI EAST

2-6-8 Bakuromachi, Chuo-ku, Osakashi, Osaka

COMFORIA KYOMACHIBORI

1-16-14 Kyomachibori,
Osaka-shi, Osaka

COMFORIA AWAZA

1-5-5 Enokojima, Nishi-ku, Osaka-shi,
Osaka

COMFORIA KITAHAMA

2-1-14 Imabashi, Chuo-ku, Osaka-shi,
Osaka

COMFORIA
ESAKAHIROSHIBACHO

19-13 Hiroshibacho, Suita-shi, Osaka

Nishi-ku,

Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust
Beneficial
Interest in Real
Estate Trust(Note 1) Explanation of “Area”
i "Central Tokyo" denotes the five major wards of Tokyo (Chiyoda, Chuo, Minato, Shinjuku and Shibuya).
ii "Sub-central Tokyo" denotes the other 18 wards of Tokyo.
iii "Tokyo Metropolitan Area" denotes residential areas equivalent to Central Tokyo and Sub-central Tokyo (areas in Tokyo,
Kanagawa, Saitama and Chiba) where demand for rental residences is strong, but excluding Central Tokyo and Sub-central
Tokyo.

- 13 -

iv "Other Major Cities" denotes residential areas in ordinance-designated cities, etc. except for Central Tokyo, Sub-central Tokyoand Tokyo Metropolitan Area.
(Note 2) “Acquisition Price” is the purchase price (not including tax and rounded down to the nearest million yen) of the trust beneficial
interest in real estate or the real estate listed in the respective sales and purchase agreement.
(Note 3) “Share” refers to the ratio of the Acquisition Price of each property to the total Acquisition Price and rounded to the first decimal
place.

- 14 -

Attachment 2. Exterior Image and Map of the Asset to be Acquired

Nishi-magome©2019 Google- 15 -