September 8, 2015

Brief Summary of Kessan Tanshin
Advance Residence Investment Corporation (Securities Code: 3269)
10th Fiscal Period (February 1, 2015 – July 31, 2015) Performance

1. Summary of Key Financial Data
Operating revenues

14,998 million yen

Total assets

440,991 million yen

Operating income

7,501 million yen

Net assets

207,653 million yen

Ordinary income

5,945 million yen

Net assets per unit

159,733 yen

5,944 million yen

Net asset ratio

47.1 %

4,572 yen

End-of-period LTV

51.6 %Net income
Earnings per share (EPU)*ROE

2.9 %FFO per share

6,497 yen

Dividend per unit (DPU)

4,572 yen

* The earnings per share is calculated by dividing the net profit by the average number of outstanding issued units
during the fiscal period.

2. 10th Fiscal Period Highlights■ The DPU for the fiscal period is 4,572 yen, an increase of 32 yen compared to the initial forecast, while
the increase was mostly due to increase in occupancy.

■ The average portfolio occupancy for the period was 96.6% up 0.4% compared to the initial forecast. Therent increased 0.12% following the last fiscal period’s 0.05% increase.

■ Aiming to increase the earning potential of the portfolio, the fund acquired 9 properties for 13,610 million
yen for this period. All of the acquired properties are recently built and located in Tokyo 23 Wards.

■ The fund continued to strengthen its financial position by reducing interest expense, lowing LTV,
diversifying debt maturities, maintaining duration and fixed rate interest debt ratio.

■ The fund’s dividend policy is for the DPU to mirror the EPU for the fiscal period if the EPU exceed
4,500 yen. And use the dividend reserve to supplement the dividend when the EPU falls short of 4,500yen.
* The earnings per unit is calculated by dividing the net profit by the number of outstanding issued units at the end of
the fiscal period.

3. Earnings Forecasts
11th Fiscal Period Forecast

12th Fiscal Period Forecast(August 1, 2015 to January 31, 2016)(February 1, 2016 to July 31, 2016)

Operating revenues

15,015 million yen

Operating revenues

15,135 million yen

Operating income

7,454 million yen

Operating income

7,434 million yen

Ordinary income

5,889 million yen

Ordinary income

5,902 million yen

Net income

5,889 million yen

Net income

5,902 million yen

Earnings per share (EPU)

4,530 yen

Earnings per share (EPU)

4,540 yen

Dividend per unit (DPU)

4,530 yen

Dividend per unit (DPU)

4,540 yen

Outstanding no. of issued units

1.30 million units

Outstanding no. of issued units

1.30 million units

Number of properties

250

Number of properties

250

Average period occupancy

96.3 %

Average period occupancy

96.4 %* The above forecasts employ figures that have been calculated based on number of assumptions. The actual net profit
and the dividend may vary due to changes in those assumptions or in other conditions. Therefore, these forecasts donot in no way guarantee the dividend amounts for the respective periods.

This document is an English-language summary of the Japanese financial report “Kessan Tanshin” disclosed inJapanese on September 8, 2015. The direct translation of title of the original report is “Kessan Tanshin” for theFinancial Period Ending July 2015 (February 1, 2015 – July 31, 2015).

Please contact below with any inquiries you may have on this report.
AD Investment Management Co., Ltd.
TEL: +81-3-3518-0480 FAX: +81-3-3518-0481
ir@adr-reit.com