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.

November 5, 2015
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) – October 2015
Ichigo Office REIT hereby announces its portfolio occupancy as of the end of October 2015:
End ofSeptember 2015
(Final: A)
96.2%

End ofOctober 2015
(Flash: B)
96.2%

Office

96.0%

96.0%

－Other

97.0%

97.4%

+0.4%

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

96.4%

96.5%

+0.1%

96.9%

96.9%

－93.8%

93.8%－95.7%

95.7%

－77
719
227,424.66m2
218,729.25m2

77723
227,400m2
218,800m2－+4Total
By AssetTypeDifference(B-A)－(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 ShinagawaWards. “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.

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Explanation of Changes
A new tenant at the Ichigo Fiesta Shibuya Building resulted in improved occupancy for Otherand Central Tokyo.
Leasing and Value Enhancement Activities
As part of Ichigo Office REIT’s organic growth strategy to drive shareholder value, Ichigo Real
Estate Investment Advisors (“IRE”), the asset management company of Ichigo Office REIT,
appoints an asset manager to be in charge of each Ichigo Office REIT asset and implement
hands-on management tailored to each asset.
These IRE asset managers have significant know-how in the operation of mid-size offices, andbuild relationships with tenants through regular visits and direct communication. When theassets require large-scale repairs or there is an opportunity for value-add improvements,
structural engineers and architects at Ichigo (2337), the sponsor of Ichigo Office REIT, provide
additional expertise.
Ichigo Office REIT will continue to strengthen its asset management operations to drive organic
growth for its shareholders.

Ichigo REIT’s Collaborative Asset Management Structure(as of October 2015)
Ichigo Real Estate Investment Advisors

Ichigo (2337)

Office REIT Division (14 members)

Engineering & Architecture (7 members)
Veteran architects and structural engineers
Cumulative asset experience JPY1.6 trillion

77 Assets– 7 Asset Managers
Collaboration
High-quality asset management – Division leader >13 years'
experience, team members >10 years' experience

Smart Capex
Value-Add Solutions– 7 Portfolio Management Professionals

Hands-On Approach and Deep Understanding ofTenant Needs

Website of Ichigo Office REIT*: www.ichigo-office.co.jp/english*The website URL has changed as a result of the name change to Ichigo Office REIT on
September 5, 2015.

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