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.

February 5, 2016
REIT Issuer
Ichigo Office REIT 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: Hiroto Tajitsu, Head of Administration & Statutory Executive Officer
Tel: +81-3-3502-4891

Ichigo Office REIT Portfolio Occupancy (Flash Data) – January 2016
Ichigo Office REIT hereby announces its portfolio occupancy as of the end of January 2016:
End ofDecember 2015
(Final: A)
96.0%

End ofJanuary 2016
(Flash: B)
95.9%

Office

95.8%

96.0%

+0.2%

Other

97.0%

95.6%

-1.4%

Central Tokyo
Tokyo
Metropolitan Area
By Area
Four Major
Regional Cities
Other RegionalCities
No. of Assets
No. of Tenants
Leasable AreaLeased Area

95.6%

94.3%

-1.3%

97.2%

98.0%

+0.8%

93.8%

96.0%

+2.2%

96.0%

96.6%

+0.6%

77725
227,424.66m2
218,254.82m2

76717
223,400m2
214,300m2-1-8Total
By AssetType

Difference
(B-A)
-0.1%

(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) Amounts less than a hundred square meters of Leasable Area and Leased Area for Flash
Data are rounded off.

1

Explanation of Changes
New tenants at the Ichigo Shin Yokohama Building, Ichigo Meieki Building, and Ichigo
Sendai East Building resulted in improved occupancy for Office, Tokyo Metropolitan Area,
Four Major Regional Cities, and Other Regional Cities.
Lease terminations at the Ichigo Ebisu Nishi Building and Ichigo Kudan Building and atemporary decline in occupancy due to a master lease company change at Ichigo Serviced
Apartments Takanawadai decreased occupancy for Other and Central Tokyo.
Ichigo Office REIT sold one asset, the Akita Sanno 21 Building, on January 29, 2016. For
details, please refer to the January 28, 2016 release “Sale of Portfolio Asset (Akita Sanno 21Building).”
Leasing and Value Enhancement Activities
Ichigo Office REIT carried out value-add renovations on a vacant floor at the Ichigo Shinkawa
Building in December. Having completed the renovation, Ichigo Office REIT marketed therefurbished floor and was successful in leasing it up within a month. A new tenant was acquired
at a +12% increase compared to market rents.
Ichigo Office REIT will continue its strategic value-add renovations and leasing activity to driveorganic growth and sustainable dividend growth.

Restroom

Elevator Hall

Website of Ichigo Office REIT: www.ichigo-office.co.jp/english

2