ICHIGO OFFICE REIT INVESTMENT CORPORATION 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.
REIT Issuer
Ichigo Real Estate Investment Corporation (8975)
1-1-1, Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
January 29, 2015
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
Change of Property Management Companies
Ichigo Real Estate Investment Corporation ("Ichigo REIT") has decided to appoint new property management (PM) companies for the following assets.
1. Reason for Changes
Ichigo REIT is working to ensure the thorough implementation of tailored property management services that reflect Ichigo Ichie, the ancient Japanese spirit of hospitality and service rooted in the Japanese tea ceremony. As part of this effort, Ichigo REIT has negotiated with PMs to increase the quality of their property management services as well as to cut costs, and has decided the following changes. The new PMs were selected based on careful consideration of
not only economic aspects such as fees, but also the full breadth of their capabilities and experience.
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2. Details of Changes
a) Change of Property Management Companies
Asset Name New (PM) Former (PM) | ||
Ichigo Nishisando Building | The Dai-ichi Building Co., Ltd. | XYMAX PROPERTIES Corporation |
Ichigo Mita Building | The Dai-ichi Building Co., Ltd. | XYMAX PROPERTIES Corporation |
Ichigo Hanzomon Building | The Dai-ichi Building Co., Ltd. | XYMAX PROPERTIES Corporation |
Ichigo Hijirizaka Building | The Dai-ichi Building Co., Ltd. | XYMAX PROPERTIES Corporation |
Ichigo Shibakoen Building | The Dai-ichi Building Co., Ltd. | XYMAX PROPERTIES Corporation |
Ichigo Uchikanda Building | The Dai-ichi Building Co., Ltd. | XYMAX PROPERTIES Corporation |
Ichigo Hakozaki Building | The Dai-ichi Building Co., Ltd. | XYMAX PROPERTIES Corporation |
Ichigo Gotanda Building | The Dai-ichi Building Co., Ltd. | XYMAX PROPERTIES Corporation |
Ichigo Minami-Ikebukuro Building | The Dai-ichi Building Co., Ltd. | XYMAX PROPERTIES Corporation |
Ichigo Nakano North Building | BEST・PROPERTY CORPORATION | XYMAX PROPERTIES Corporation |
Ichigo Eitai Building | The Dai-ichi Building Co., Ltd. | XYMAX PROPERTIES Corporation |
Route Ikebukuro Building | Shimizu Comprehensive Development | XYMAX PROPERTIES Corporation |
Ichigo Kichijoji Building | BEST・PROPERTY CORPORATION | XYMAX PROPERTIES Corporation |
Ichigo Toyamaeki-Nishi Building | The Dai-ichi Building Co., Ltd. | XYMAX PROPERTIES Corporation |
Ichigo Mirai-Shinkin Building | XYMAX PROPERTIES KYUSHU Corporation | XYMAX PROPERTIES Corporation |
Ichigo Saga Building | XYMAX PROPERTIES KYUSHU Corporation | XYMAX PROPERTIES Corporation |
Ichigo Akihabara North Building | Shimizu Comprehensive Development | XYMAX PROPERTIES Corporation |
Ichigo Sakaisuji Honmachi Building | XYMAX PROPERTIES KANSAI Corporation | XYMAX PROPERTIES Corporation |
Ichigo Kanda Ogawamachi Building | The Dai-ichi Building Co., Ltd. | XYMAX PROPERTIES Corporation |
Konami Sports Club Izumi Fuchu | XYMAX PROPERTIES KANSAI Corporation | XYMAX PROPERTIES Corporation |
Ichigo Shibuya Bunkamura-Dori Building | Space Trust Co., LTD. | XYMAX PROPERTIES Corporation |
Twicere Yokohama Isogo (Retail Section) | Daikyo Realdo Incorporated | XYMAX PROPERTIES Corporation |
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b) Profile of the Property Management Companies
Name | The Dai-ichi Building Co., Ltd. |
Address | 2-4-12, Kyobashi, Chuo-ku, Tokyo |
Representative | Takahiro Inaba, Representative Director |
Capital | 900 million yen (as of January 1, 2015) |
Principal Businesses | 1. Leasing 2. Consignment of real estate management and lease 3. Real estate brokerage |
Relationship with Ichigo REIT or Asset Management Company | The PM does not have any capital, personnel, or business relationship of note with Ichigo REIT or its asset management company. In addition, the PM is not an interested party of Ichigo REIT or its asset management company. |
Name | BEST・PROPERTY CORPORATION |
Address | 1-16-13, Minamisenba, Chuo-ku, Osaka |
Representative | Ryusei Kajiyama, Representative Director |
Capital | 50 million yen (as of March 31, 2014) |
Principal Businesses | 1. Property management services and consignment 2. Intermediary for tenants 3. Construction management services 4. Intermediary in sale transactions 5. Due diligence services |
Relationship with Ichigo REIT or Asset Management Company | The PM does not have any capital, personnel, or business relationship of note with Ichigo REIT or its asset management company. In addition, the PM is not an interested party of Ichigo REIT or its asset management company. |
Name | Shimizu Comprehensive Development |
Address | 2-13-11, Kyobashi, Chuo-ku, Tokyo |
Representative | Kimio Handa, Representative Director |
Capital | 3,000 million yen (as of January 20, 2015) |
Principal Businesses | 1. Real estate sales, brokerage, lease, and management 2. Construction, sales, lease, and management of buildings such as residence, land development and sales 3. Environmental improvements and development works for city/area development, related research, planning, design, supervision, and management 4. Arrangement of credit guarantees related to real estate sales transactions 5. Real estate-related consulting services 6. Planning, supervision and contract work of building construction and civil engineering projects 7. Non-life insurance agency 8. Real estate-related security service and Type 1 freight forwarding business based on the Freight Forwarding Business Law |
Relationship with Ichigo REIT or Asset Management Company | The PM does not have any capital, personnel, or business relationship of note with Ichigo REIT or its asset management company. In addition, the PM is not an interested party of Ichigo REIT or its asset management company. |
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Name | XYMAX PROPERTIES KYUSHU Corporation |
Address | 1-7-22, Hakataekimae, Hakata-ku, Fukuoka-City, Fukuoka |
Representative | Naoki Shirakawa, Representative Director |
Capital | 100 million yen (as of January 1, 2015) |
Principal Businesses | 1. Consignment of real estate (office buildings and retail facilities)-related management operation 2. Comprehensive management and maintenance service of buildings and related equipments 3. Purchase and sales of real estate, lease, management, brokerage, consulting, and appraisal. |
Relationship with Ichigo REIT or Asset Management Company | The PM does not have any capital, personnel, or business relationship of note with Ichigo REIT or its asset management company. In addition, the PM is not an interested party of Ichigo REIT or its asset management company. |
Name | XYMAX PROPERTIES KANSAI Corporation |
Address | 1-11-4, Umeda, Kita-ku, Osaka City, Osaka |
Representative | Seizi Yung, Representative Director |
Capital | 100 million yen (as of January 1, 2015) |
Principal Businesses | 1. Purchase and sale of real estate, lease, management, brokerage, consulting, and appraisal. 2. Consignment of real estate (office buildings and retail facilities)-related management operation 3. Comprehensive management and maintenance service of buildings and related equipments 4. Sales of goods related to building management, related agent service and brokerage 5. Security service 6. Planning, contract work, construction, design, supervision and consulting of building construction projects |
Relationship with Ichigo REIT or Asset Management Company | The PM does not have any capital, personnel, or business relationship of note with Ichigo REIT or its asset management company. In addition, the PM is not an interested party of Ichigo REIT or its asset management company. |
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Name | Space Trust Co., LTD. |
Address | 8-8-5, Ginza, Chuo-ku, Tokyo |
Representative | Jin Hirayama, Representative Director |
Capital | 100 million yen (as of July 31, 2014) |
Principal Businesses | 1.Consulting service for lease planning 2. Planning, supervision, and construction of building construction projects 3. Real-estate brokerage 4. Comprehensive management of lease buildings 5. Lease building management 6. Condominium management and related services 7. Real estate investment advisory business 8. Real estate specific joint enterprise business |
Relationship with Ichigo REIT or Asset Management Company | The PM does not have any capital, personnel, or business relationship of note with Ichigo REIT or its asset management company. In addition, the PM is not an interested party of Ichigo REIT or its asset management company. |
Name | Daikyo Realdo Incorporated |
Address | ORIX Sendagaya Building, 4-19-18, Sendagaya, Shibuya-ku, Tokyo |
Representative | Kazuhiko Kaise, Representative Director |
Capital | 1,413 million yen (as of April 1, 2014) |
Principal Businesses | 1. Real estate sales, brokerage, lease, and management 2. Consignment of real estate management, lease, and sales 3. Real estate-related survey, research, and consulting service |
Relationship with Ichigo REIT or Asset Management Company | The PM does not have any capital, personnel, or business relationship of note with Ichigo REIT or its asset management company. In addition, the PM is not an interested party of Ichigo REIT or its asset management company. |
3. Effective Date of Change
February 1, 2015 (expected)
4. Future Outlook
The impact of these changes to Ichigo REIT's earnings forecast for the fiscal period ending April 2015 announced on December 18, 2014 in "Financial Report for the Fiscal Period Ending October 2014" is minimal and therefore the forecast is unchanged.
Website of Ichigo REIT: www.ichigo-reit.co.jp/english
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