March 30, 2016
To All Concerned Parties
Issuer of Real Estate Investment Trust Securities
4-1, Nihonbashi 1-chome, Chuo-ku, Tokyo 103-0027
Nippon Accommodations Fund Inc.
Executive Director
Nobumi Tobari(Code Number 3226)
Investment Trust Management Company
Mitsui Fudosan Accommodations Fund Management Co., Ltd.
President and CEO
Tateyuki Ikura
Contact CFO and Director
Satoshi Nohara(TEL. 03-3246-3677)

Notification Concerning Acquisition of Domestic Real Estate Property
This is a notification that Mitsui Fudosan Accommodations Fund Management Co., Ltd., an investment trust
management company, which has been commissioned by Nippon Accommodations Fund Inc. (“NAF“) to manage
its assets, decided on the acquisition of real estate property in Japan as shown below.

1. Reason for acquisition
Based on the provisions for investments and policies on asset management provided in the Articles ofIncorporation, the decision to acquire the following property was made to ensure the steady growth of assets undermanagement, and for the diversification and further enhancement of the investment portfolio.

2. Overview of acquisition(1) Name of property acquired

Dormy Nishi Ogikubo(2) Type of property acquired

Real estate(3) Acquisition price (Note 1)¥1,100,000 thousand(4) Appraised value (Note 2)¥1,140,000 thousand(5) Date of conclusion of sales contract

March 30, 2016

(6) Date of handoverMarch 30, 2016(7) Seller

Not disclosed (Note 3)(8) Acquisition funds

Own funds and borrowings (Note 4)(9) Method of payment

Full payment at the time of delivery(Note 1) “Acquisition price” denotes the trading value (exclusive of miscellaneous expenses for acquisition, fixed property taxes,
urban planning taxes, consumption taxes, and local consumption taxes) specified in the real estate sale contract for theproperty acquired.
(Note 2) “Appraised value” is based on the amount mentioned in the real estate appraisal report (date of value appraisal on March 1,
2016) which The Tanizawa Sogo Appraisal Co., Ltd. prepared for the property acquired.
(Note 3) Not disclosed as the consent from the seller has not been obtained.
(Note 4) After the acquisition of the property today by using its own funds, NAF plans to execute a new loan to cover the decreased
amount in own funds and to apply the loan to funds on hand. The details of the new loan will be announced as soon as they
are finalized.

13. Description of the property acquired(1) Outline of the property acquired
Name of property acquired
Type of property acquired
Appraisal company
Appraised value (Note 1)
Date of value appraisal (Note 1)
Location Residence indication
Building-to-land ratio (Note 2)
Floor-area ratio (Note 2)

Dormy Nishi Ogikubo
Real estate
The Tanizawa Sogo Appraisal Co., Ltd.
¥1,140,000 thousand
March 1, 2016
5-16, Nishiogi-kita 4-chome, Suginami-ku, Tokyo
80% / 50%
300% / 100%

Land

ZoningNeighborhood commercial district, Category 1 District
Exclusively for Low Rise Residential Buildings

Site area (Note 3)
Ownership form
Completion date (Note 4)

683.47 m2
Proprietorship
March 21, 1992

Structure / Number of stories (Note 5)

Flat-roofed reinforced concrete structure / 5 stories with 1
underground story

Uses (Note 5)
Gross floor area (Note 5)
Ownership form
Rentable units
Rentable area
Existence of security interests
Special affairs (Note 6)
Building

Special features of the property

Details of tenants(Note 7)

Apartment building
1,616.52 m2
Proprietorship71
1,181.91 m2
None
None
The property is located approximately 700 m northwestof Nishi-Ogikubo Station on the JR Chuo Line. The station
is five stops away (15-minute ride) to Shinjuku Station by
rapid-service train.
In the surrounding area of Nishi-Ogikubo Station is astation-front shopping area with branch offices of financial
institutions, restaurants, retail shops, etc. It is relatively abusy area with excellent living convenience as well as
excellent transport access to central Tokyo, making it anarea that can attract solid demand mainly from thosecommuting to central Tokyo.
With many universities, etc. located along the Chuo
Line, the property is likely to be occupied by students
commuting to those schools as it is used as a student
housing.

Total number of tenants
Rentable units
Rented units
Rentable area
Rented area
Occupancy rate

171
71
1,181.91 m2
1,181.91 m2
100.0%

Deposit / Security depositNot disclosed as the consent from the lessee has notbeen obtained.

Total rental revenues

Refer to “10. Summary of appraisal report” below.

2

(Note 1) “Appraised value” and “date of value appraisal” are based on the real estate appraisal report prepared by The Tanizawa
Sogo Appraisal Co., Ltd. for the property acquired.
(Note 2) “Building-to-land ratio” is the ratio of the building’s construction area to the site area as stipulated in Article 53 of the
Building Standards Act, and the figure stipulated by city planning in accordance with zoning, etc. is indicated. “Floor-arearatio” is the ratio of the building’s gross floor area to the site area as stipulated in Article 52 of the Building Standards Act,and the figure stipulated by city planning in accordance with zoning, etc. is indicated.
(Note 3) “Site area” denotes the land area included in the register.
(Note 4) “Completion date” of the building denotes the date included in the register.
(Note 5) “Structure / Number of stories”, “uses”, and “gross floor area” are based on the description in the register.
(Note 6) “Special affairs” include issues considered to be important by NAF as of today, with consideration of influence on the rights,
uses, and appraisal values as well as profits of the property acquired.
(Note 7) Explanation on “details of tenants”(i) “Total number of tenants” is denoted as “1 tenant” where a master lease contract (blanket lease contract) has beenconcluded with the lessee (operator). As to the property acquired, NAF has concluded a fixed term building leaseagreement with NAF as the lessor and Kyoritsu Maintenance Co., Ltd. as the lessee and operator, as of today. The
above “Total number of tenants” is denoted as “1” indicating the number of said lessee.
(ii) “Rentable units” denotes the number of units that can be rented within the property acquired.
(iii) “Rented units” and “rented area” are based on the fixed term building lease agreement concluded as of today. “Deposit /Security deposit” is not disclosed as the consent from the lessee has not been obtained.
(iv) “Rentable area” denotes the total area of the building that can be rented within the property acquired.
(v) “Occupancy rate” denotes the ratio of the “rented area” against the “rentable area” and the figures are rounded to one
decimal place.

(2) Outline of investigations into the state of the building, etc.
Consigned investigating company
Tokio Marine & Nichido Risk Consulting Co., Ltd.
Investigation report date
March 9, 2016
Urgent repair cost－
Investigations
Short-term
repaircost－
into the state ofRepair and renewal costs
building
expected to be necessary¥47,404 thousand
within 12 years
Replacement value¥353,500 thousand
Consigned investigating company
Tokio Marine & Nichido Risk Consulting Co., Ltd.
Earthquake
Investigation report date
March 9, 2016
risk diagnosis
PML value (Note)
8.8%(Note)The report on earthquake risk diagnosis only states the views of the consigned investigating company and does not provide
any guarantee for its contents. PML (Probable Maximum Loss) value represents the rate of probable maximum loss to becaused by earthquakes. In this case, it means the extent of damage to be caused by one of the biggest earthquakes
anticipated to happen within the expected duration of service (the biggest earthquake which happens once every 475 years= 10% chance of a big earthquake happening once every 50 years) represented by the rate (%) of the estimated cost ofrestoration from the damage to the replacement cost.

Profile of third-party investigative body
Name
Tokio Marine & Nichido Risk Consulting Co., Ltd.
Address
5-1, Otemachi 1-chome, Chiyoda-ku, Tokyo
Representative
Nariki Yasuda, President and Chief Executive Officer
Research, study, provision of information, assessment, consulting, holding of
Description ofseminars, publishing, provision of training, etc. on security, disaster prevention,
principal operations
sanitation, environment, product safety and information management, etc.
Capital¥100 million

Relationship with NAF
or investment trust
management company

None

3

4. Outline of seller
The seller is a domestic business corporation, but information is not disclosed as the consent from the seller
has not been obtained. There are no capital, personal or business relationships to report between the seller
and NAF, the investment trust management company, or any related parties or associated companies of NAF
or the investment trust management company. Also, the seller and any related parties or associatedcompanies of the seller do not fall under the category of related parties of NAF or the investment trust
management company.
5. Situation of the acquirer of the property
The property acquired is not an acquisition from a party classified as having a relationship of special interest
with NAF or the investment trust management company, therefore the situation of the acquirer is not stated.
6. Outline of brokerage(1) Outline of broker
Trade name
Address
Representative

Tokyu Livable, Inc.
9-5, Dogenzaka 1-chome, Shibuya-ku, Tokyo

Description of principle
operations

Management, leasing, purchasing/selling, brokerage and appraisal of land andbuildings, and other businesses

CapitalDate of establishment¥1,396 million
March 10, 1972
There are no capital, personal or business relationships to report between thebroker and NAF, the investment trust management company, or any relatedparties or associated companies of NAF or the investment trust managementcompany. Also, the broker and any related parties or associated companies ofthe broker do not fall under the category of related parties of NAF or theinvestment trust management company.

Relationship with NAF and
Investment TrustManagement Company

Shinji Sakaki, President(2) Amount of brokerage fee
Not disclosed as the consent from the broker has not been obtained.
7. Transactions with related parties and the like
The property acquired has not been acquired from a party classified as having a relationship of special interest
with NAF or the investment trust management company.
8. Earthquake resistance matters
NAF outsourced the inspection and verification of the details of earthquake-resistant structures including
structural calculation sheets and, for the building of the property acquired, obtained confirmation that, no
falsification is suspected in the structural calculation and structural drawings with respect to their structure, which
ensures earthquake resistance as per the Building Standards Act.
In addition, NAF always entrusts earthquake risk diagnosis to the third party investigating company to review
drawings using structural design drawings, structural calculation sheets, etc., as well as on on-site inspection andthe like during the course of due diligence upon acquisition of property, besides building certification investigations
performed by an inspection and certification agency.
9. Outlook for management after acquisition of the property
The outlook for NAF’s financial results for the period ending August 31, 2016 (21st Period: March 1, 2016 toAugust 31, 2016) will be disclosed when financial results for the period ended February 29, 2016 are announced(the announcement is scheduled for April 19, 2016) with due consideration of the status of operations of the overall
portfolio.

410. Summary of appraisal report
Appraised value
Appraisal company
Date of value appraisal
Item

Value of earnings¥1,140,000 thousand
The Tanizawa Sogo Appraisal Co., Ltd.
March 1, 2016
(Unit: Thousands of yen)
Details
Summary, etc.
Calculated by verifying with the value of
earnings found by the direct capitalization
1,140,000 method while using the value of earnings
found by the discounted cash flow method
as standard.

Value calculated by the direct capitalization
method [(4)÷(5)](1) Operating revenues [(a)−(b)]1,160,000
60,480(a) Potential gross revenue

60,480(b) Vacancy loss, etc.
(2) Operating expenses[(c)+(d)+(e)+(f)+(g)+(h)+(i)+(j)](c) Maintenance expenses(d) Utilities expenses

－
3,737
－
－

(e) Repair expenses

1,239(f) Property management fees(g) Tenant soliciting fees, etc.

Appraised by reflecting verification withmany similar cases, based on thelong-term repair expenses in theengineering report.

－－(h) Taxes and public dues

2,358(i) Property insurance fees

79(j) Other expenses(3) Net operating income [(1)−(2)]60
56,742(k) Earnings from temporary deposits

201(l) Capital expenditures

2,655(4) Net income [(3)+(k)−(l)]Assumed tax amount for fiscal 2016 basedon the tax notice of fiscal 2015.
Appraised using estimate of property
insurance fees, etc.
Appraised using similar cases, etc.
Appraised assuming an investment yield of
2.0%.
Appraised by reflecting verification withmany similar cases, based on thelong-term repair expenses in theengineering report.

54,289(5) Cap rate

4.7%

Value calculated by the discounted cash flow
methodDiscount rate

Appraised based on the fixed term building
lease agreement and actual cases ofleasing.

Appraised based on a consideration offluctuation forecast of future net income
after comparing with market-derived cap
rate in similar areas, etc.

1,130,000(First fiscal year – 5th
fiscal year) 4.6%
(6th fiscal year – 10th
fiscal year) 4.7%
(11th fiscal year) 4.8%

Terminal cap rate

4.9%

Cost method value
Land ratio
Building ratio

Appraised by setting a base yield of rental
apartments with a build-up method, etc.
based on financial products’ yields; andconsidering individual risks of the subject
real estate with the base yield.
Appraised based on the cap rate, reflecting
future uncertainties.

999,000
80.8%
19.2%

Other items considered by the appraisal company
in making the appraisal

－

5

*

*

Japanese original document was distributed to press clubs within the Tokyo Stock Exchange (KabutoClub) and the press club of the Ministry of Land, Infrastructure, Transport and Tourism and to the pressclub for construction publications of the Ministry of Land, Infrastructure, Transport and Tourism.
NAF’s website: http://www.naf-r.jp/english/

Please note that this English translation of the Japanese original document is provided solely for information
purposes. In the event of any discrepancy between the Japanese original and this English translation, theJapanese original shall prevail.
<Attached Documents>
1. Portfolio list after the purchase of the property is completed (on an acquisition price basis)
2. Photo of exterior and map of the property acquired6

<Attached Document 1> Portfolio list after the purchase of the property is completed (on an acquisition pricebasis) (Note 1)
1. Rental Apartments
Name

Location

Acquisition
price(millions of yen)
(Note 2)

Portfolio share(%)(Note 3)Okawabata Apartment
Communities
Park Axis Gakugei Daigaku

Chuo-ku, Tokyo

30,816

10.3

Setagaya-ku, Tokyo

1,760

0.6

Park Axis Shibuya Jinnan

Shibuya-ku, Tokyo

3,230

1.1

Park Axis Aoyama Kotto DoriMinato-ku, Tokyo

1,730

0.6

Park Axis Kagurazaka Stage

Shinjuku-ku, Tokyo

1,400

0.5

Park Axis Shirokanedai

Minato-ku, Tokyo

5,140

1.7

Park Axis Bunkyo Stage

Bunkyo-ku, Tokyo

4,440

1.5

Park Axis Tsukishima

Chuo-ku, Tokyo

930

0.3

Park Axis Otsuka

Toshima-ku, Tokyo

1,655

0.6

Park Axis Minami Azabu

Minato-ku, Tokyo

3,939

1.3

Park Axis Shibuya

Shibuya-ku, Tokyo

1,282

0.4

Park Axis Nihonbashi Stage

Chuo-ku, Tokyo

7,557

2.5

Park Axis Hamamatsucho

Minato-ku, Tokyo

2,025

0.7

Park Axis Hongo no Mori

Bunkyo-ku, Tokyo

2,910

1.0

Park Axis Tameike Sanno

Minato-ku, Tokyo

2,860

1.0

Park Axis Roppongi Hinokicho
Koen

Minato-ku, Tokyo

2,170

0.7

Park Axis Ochanomizu Stage

Bunkyo-ku, Tokyo

9,710

3.3

Park Axis Okachimachi

Taito-ku, Tokyo

1,070

0.4

Park Cube Hongo

Bunkyo-ku, Tokyo

1,760

0.6

Park Cube Kanda

Chiyoda-ku, Tokyo

2,454

0.8

Park Cube Ichigaya

Shinjuku-ku, Tokyo

1,949

0.7

Park Cube Asakusa Tawaramachi

Taito-ku, Tokyo

2,508

0.8

Park Cube Ueno

Taito-ku, Tokyo

2,233

0.7

Park Cube Ikebukuro Kanamecho

Toshima-ku, Tokyo

1,608

0.5

Park Axis Meguro Honcho

Meguro-ku, Tokyo

1,810

0.6

Park Axis Shin Itabashi

Itabashi-ku, Tokyo

3,430

1.1

Park Axis Akihabara

Chiyoda-ku, Tokyo

1,200

0.4

Park Axis Toyocho

Koto-ku, Tokyo

3,950

1.3

Park Axis Takinogawa

Kita-ku, Tokyo

1,820

0.6

Park Axis Asakusabashi

Taito-ku, Tokyo

2,717

0.9

Park Axis Nihonbashi Hamacho

Chuo-ku, Tokyo

5,540

1.9

Park Cube Yoyogi Tomigaya

Shibuya-ku, Tokyo

1,975

0.7

Park Axis Monzen Nakacho

Koto-ku, Tokyo

1,700

0.6

Park Cube Itabashi Honcho

Itabashi-ku, Tokyo

4,170

1.4

Park Cube Gakugei Daigaku

Meguro-ku, Tokyo

910

0.3

1,440

0.5

840

0.3

Park Cube Oimachi

Shinagawa-ku, Tokyo

Park Axis Nishigahara

Kita-ku, Tokyo

Park Axis Kinshicho

Sumida-ku, Tokyo

1,448

0.5

Park Axis Tatsumi Stage

Koto-ku, Tokyo

7,464

2.5

Park Axis Kameido

Koto-ku, Tokyo

2,359

0.8

Park Axis Honancho

Nakano-ku, Tokyo

745

0.2

7

Name

Location

Acquisition
price(millions of yen)
(Note 2)

Portfolio share(%)(Note 3)

Park Axis Itabashi

Kita-ku, Tokyo

1,448

0.5

Park Axis Oshiage

Sumida-ku, Tokyo

1,193

0.4

Park Axis Takadanobaba

Toshima-ku, Tokyo

1,222

0.4

Park Axis Toyosu

Koto-ku, Tokyo

14,300

4.8

Park Axis Hatchobori

Chuo-ku, Tokyo

1,760

0.6

Park Axis Itabashi Honcho

Itabashi-ku, Tokyo

987

0.3

Park Axis Sumiyoshi

Sumida-ku, Tokyo

1,006

0.3

Park Cube Yotsuya Sanchome

Shinjuku-ku, Tokyo

2,749

0.9

Park Cube Hatchobori

Chuo-ku, Tokyo

4,200

1.4

Park Axis Kamata Ichibankan

Ota-ku, Tokyo

1,069

0.4

Park Axis Taito Negishi

Taito-ku, Tokyo

672

0.2

Park Axis Komagome

Toshima-ku, Tokyo

1,389

0.5

Park Axis Itabashi Honcho
Nibankan

Itabashi-ku, Tokyo

1,859

0.6

Shibaura Island Air Tower

Minato-ku, Tokyo

7,905

2.6

Park Cube Higashi Shinagawa

Shinagawa-ku, Tokyo

6,060

2.0

Park Cube Sasazuka

Shibuya-ku, Tokyo

2,200

0.7

Park Axis Higashi Jujo

Kita-ku, Tokyo

1,700

0.6

Park Cube Heiwadai

Nerima-ku, Tokyo

1,204

0.4

Park Cube Meguro Tower

Meguro-ku, Tokyo

9,000

3.0

Park Cube Nihonbashi Suitengu

Chuo-ku, Tokyo

2,711

0.9

Park Cube Ginza East

Chuo-ku, Tokyo

2,269

0.8

Park Cube KayabachoChuo-ku, Tokyo

1,105

0.4

Park Cube Honjo Azumabashi

Sumida-ku, Tokyo

1,252

0.4

Park Axis Kiyosumi Shirakawa

Koto-ku, Tokyo

696

0.2

Park Axis Asakusabashi Nichome

Taito-ku, Tokyo

1,079

0.4

Park Axis Nishi Sugamo

Kita-ku, Tokyo

1,439

0.5

Park Axis Ueno

Taito-ku, Tokyo

1,389

0.5

Park Axis Akihabara East

Taito-ku, Tokyo

1,369

0.5

Park Axis KayabachoChuo-ku, Tokyo

1,809

0.6

Park Axis Kinshicho Shinsui Koen

Sumida-ku, Tokyo

1,369

0.5

Park Cube Kasuga Andozaka

Bunkyo-ku, Tokyo

2,670

0.9

Park Cube Kameido

Koto-ku, Tokyo

3,020

1.0

Park Axis Shin Okachimachi East

Taito-ku, Tokyo

1,299

0.4

Park Axis Nihonbashi Honcho

Chuo-ku, Tokyo

1,469

0.5

Park Cube Nishigahara Stage

Kita-ku, Tokyo

4,110

1.4

Park Cube Atagoyama Tower

Minato-ku, Tokyo

8,650

2.9

Park Axis Shibaura

Minato-ku, Tokyo

1,045

0.3

Park Axis Asakusa Kuramae

Taito-ku, Tokyo

1,095

0.4

Park Axis Kamata Station Gate

Ota-ku, Tokyo

4,144

1.4

Park Axis Kinshicho Residence

Sumida-ku, Tokyo

1,251

0.4

Park Axis Oshiage Sumida Koen

Sumida-ku, Tokyo

1,055

0.4

Park Axis Magome Residence

Ota-ku, Tokyo

1,450

0.5

Park Axis Higashi Ueno

Taito-ku, Tokyo

1,250

0.4

251,574

84.2

Tokyo 23 wards total

8

Name

Location

Acquisition
price(millions of yen)
(Note 2)

Portfolio share(%)(Note 3)

Park Cube Keio Hachioji II

Hachioji-shi, Tokyo

1,130

0.4

Park Axis Nishi Funabashi

Funabashi-shi, Chiba

1,020

0.3

1,419

0.5

1,679

0.6

970

0.3

1,200

0.4

2,250

0.8

1,119

0.4

1,539

0.5

12,326

4.1

2,440

0.8

1,920

0.6

1,515

0.5

1,890

0.6

742

0.2

1,547

0.5

2,320

0.8

960

0.3

605

0.2

1,650

0.6

Park Axis Yokohama Idogaya
Park Axis Chiba Shinmachi
Park Axis Chiba
Park Cube Kita Matsudo
Park Cube Musashi Kosugi
Park Axis Yokohama Tanmachi
Koen
Park Axis Yokohama Yamashitacho

Minami-ku,
Yokohama-shi,
Kanagawa
Chuo-ku, Chiba-shi,
Chiba
Chuo-ku, Chiba-shi,
Chiba
Matsudo-shi, Chiba
Nakahara-ku,
Kawasaki-shi,
Kanagawa
Kanagawa-ku,
Yokohama-shi,
Kanagawa
Naka-ku, Yokohama-shi,
Kanagawa

Greater Tokyo total (Note 4)
Park Axis Meieki Minami
Park Axis Marunouchi
Park Axis Ropponmatsu
Park Axis Hakataeki Minami
Park Axis Naka Gofukumachi
Park Axis Shirakabe
Park Axis Sendai
Park Axis Hakata Minoshima
Park Axis Takamiya Higashi
Park Axis Sapporo Shokubutsuen
MaePark Axis Shin Sapporo
Park Axis Esaka HiroshibachoPark Axis Utsubo Koen
Park Cube Kitahama

Nakamura-ku,
Nagoya-shi, Aichi
Naka-ku, Nagoya-shi,
Aichi
Chuo-ku, Fukuoka-shi,
Fukuoka
Hakata-ku, Fukuoka-shi,
Fukuoka
Hakata-ku, Fukuoka-shi,
Fukuoka
Higashi-ku, Nagoya-shi,
Aichi
Wakabayashi-ku,
Sendai-shi, Miyagi
Hakata-ku, Fukuoka-shi,
FukuokaMinami-ku, Fukuoka-shi,
Fukuoka
Chuo-ku, Sapporo-shi,
Hokkaido
Atsubetsu-ku,
Sapporo-shi, Hokkaido
Suita-shi, Osaka
Nishi-ku, Osaka-shi,Osaka
Chuo-ku, Osaka-shi,
Osaka

827

0.3

2,369

0.8

2,399

0.8

1,970

0.7

Other major cities total (Note 5)

23,154

7.8

Rental Apartments Total

287,05496.1

9

2. Other Accommodation Assets
Name
Dormy Ashiya
Kawaijuku Kyoto Gakushin Ryo
Sundai Horikawa Ryo

Location

Acquisition
price(millions of yen)
(Note 2)

Portfolio share(%)(Note 3)Ashiya-shi, Hyogo

928

0.3

991

0.3

916

0.3

374

0.1

Nakagyo-ku, Kyoto-shi,
Kyoto
Kamigyo-ku, Kyoto-shi,
Kyoto

Dormy Rakuhoku

Kita-ku, Kyoto-shi, Kyoto

Rikkyo University International
Dormitory (RUID) Shiki

Shiki-shi, Saitama

1,478

0.5

Dormy Naka Itabashi

Itabashi-ku, Tokyo

1,041

0.3

Philosophia Nishidai

Itabashi-ku, Tokyo

1,249

0.4

1,152

0.4

540

0.2

1,160

0.4

Dormy Musashi Kosugi
Artis Sendai Kakyoin
Artis Sendai Kimachi DoriNakahara-ku,
Kawasaki-shi,
Kanagawa
Aoba-ku, Sendai-shi,
MiyagiAoba-ku, Sendai-shi,
Miyagi

Medical Home Granda Sangen
Jaya (Land with leasehold interest)

Setagaya-ku, Tokyo

735

0.2

Dormy Nishi Ogikubo

Suginami-ku, Tokyo

1,100

0.4

Other Accommodation Assets Total

11,664

3.9Grand total

298,718100.0(Note 1) It is based on the assumption that the purchase of the properties to be acquired, as disclosed in the press release“Notification Concerning Acquisition of Domestic Real Estate Properties” dated March 23, 2016, has been completed.
(Note 2) The “Acquisition price” item does not include anticipated acquisition expenses, fixed property taxes, urban planning taxes,
consumption taxes or local consumption taxes.
(Note 3) The “Portfolio share” item indicates the percentage contribution of each property holding to the “Acquisition price” item.
The percentage figure is rounded to one decimal place.
(Note 4) “Greater Tokyo” indicates Tokyo metropolis (excluding Tokyo 23 wards), and the 3 prefectures of Kanagawa, Saitama andChiba.
(Note 5) “Other major cities” indicates major cities across Japan and their surrounding areas, excluding the Tokyo area.

10

<Attached Document 2> Photo of exterior and map of the property acquired

Ome Kaido

Tokyo Woman’s
Christian University

Jyoshidai Dori

Nishi‐Ogikubo Station

11