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.

December 5, 2014
REIT Issuer
Ichigo Real Estate 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: Minoru Ishihara, Executive Vice President & Statutory Executive Officer
Tel: 03-3502-4891

Ichigo REIT Portfolio Occupancy (Flash Data) – November 2014
Ichigo Real Estate Investment Corporation (“Ichigo REIT”) hereby announces its portfolio
occupancy as of the end of November 2014:
End of October
2014(Final: A)
95.7%

End of November2014(Flash: B)
95.8%

Offices (O)

96.2%

95.9%

-0.3%

Residences (R)

97.0%

97.9%

+0.9%

Others (Z)

92.3%

93.4%

+1.1%

96.2%

96.8%

+0.6%

95.1%

95.2%

+0.1%

95.8%

95.8%

－

95.3%

94.5%

-0.8%

70513
170,306.22m2
162,963.15m2

70
517
170,300m2
163,200m2－TotalBy AssetTypeCentral TokyoTokyo
Metropolitan Area
By Area
Four Major
Regional Cities
Other RegionalCities
No. of Assets
No. of Tenants
Leasable Area
Leased Area

Difference(B-A)+0.1%+4(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) Leasable Area and Leased Area for Flash Data are rounded down to the nearest hundred
square meters.

1Explanation of Changes
New tenant leases at Burg Omori contributed to improved occupancy in Others and Tokyo
Metropolitan Area. Also, new occupancy in residential assets improved the occupancy rate for
Residences and Central Tokyo.
Meanwhile, lease terminations at Ichigo Shin-Yokohama Building and Ichigo Saga Building
decreased occupancy in Offices and Other Regional Cities. Ichigo REIT will work towards a
rapid lease-up of these vacancies.
Leasing and Value Enhancement Activities
One of the tenants at Ichigo Kanda Ogawamachi Building, a major men’s clothing retailer,
terminated its leasing contract recently. However, Ichigo REIT was able to find a new tenant withno downtime due to effective collaboration with the Real Estate Services Division of sponsor
Ichigo Group Holdings, which marketed the space as soon as it received the notice of terminationfrom the tenant. Ichigo focused on major sporting goods stores as potential tenants, and found anumber of retailers wanting to open a new store in the space during November. The 1st floor andthe basement floor are now occupied by a new sporting goods tenant.
Website of Ichigo REIT: www.ichigo-reit.co.jp/english

2