Financial Results for the 33rd Fiscal Period

Code：8986

Nov 21, 2022

Gran Casa Minami-Senju (Acquired on Oct 4, 2022)

Overview of Public Offering

‖Public Offering resolved on September 9, 2022 and acquisition of 7 properties (JPY16.0 billion) improved unitholder value

１. Overview of Public Offering

Issuance form

Domestic offering

Number of offered units

Public offering: 53,333 units

Third-party allotment: 2,667 units

Number of units

2,260,890 units

after the offering

Offer price

JPY 114,387

Purchase price

JPY 110,632

Total issuance price

Public offering: JPY 5,900,336,456

Third-party allotment: JPY 295,055,544

Resolution date

September 9, 2022

Pricing date

September 14, 2022

Payment date

October 3, 2022

(Public Offering)

Delivery date

October 4, 2022

(Public Offering)

  • Well-balancedstrategic property acquisition

Achieve an increase in the ratio of 3 major metropolitan areas and a rejuvenation of the age of the portfolio by acquiring recently built properties located in the 3 major metropolitan areas.

2. Indicator changes due to Public Offering

• Asset size

＋16.0 billion

JPY 345.6 billion

JPY 361.7 billion

(as of Apr 1, 2022)

(as of Oct 4, 2022)

  • Distribution per unit

＋20

JPY 2,180

JPY 2,200

(Mar 2023 initial forecast)

(Mar 2023 forecast)

  • LTV

even

51.4%

51.4%

(as of the end of Sep 2022)

(as of the end of Oct 2022)

• NAV per unit

＋396

  • Borrowing by Social Loans

In conjunction with the public offering, DLI borrowed JPY 4.1 billion as a social loan from multiple financial institutions, which is procured for the acquisition of the healthcare facility, and contributing to solving social issues.

JPY 114,068

JPY 114,464

(as of the end of Sep 2022)

(as of the end of Mar 2023)

1

Overview of Properties Acquired Through Public Offering

‖Rejuvenation of building age by acquisition of new properties and improvement of 3 major metropolitan areas ratio

End of 32nd FP (Mar 2022)

Assets Acquired

Assets Acquired

After Acquisition of Assets

in 33rd FP (Sep 2022)

through Public Offering

through Public Offering

Asset Size

JPY 343.9 billion

JPY 1.7 billion

JPY 16.0 billion

JPY 361.7 billion

Number of Properties

239

1

7

247

Average NOI Yield

5.3%

4.1%

4.1％

5.2％

Average NOI Yield

3.8%

3.3%

3.1％

3.8％

after Depreciation

Average Age

13.8 years

3.5 years

1.6 years

13.7 years

3 Major Metropolitan Areas Ratio

87％

100％

100％

88％

〈23 Wards of Tokyo Ratio〉

〈36％〉

〈100％〉

〈83％〉

〈38％〉

Investment Ratio

70％ : 30％

100％ : 0％

61％ : 39％

70％ : 30％

〈Rental Housing : Healthcare〉

Rental Housing

Healthcare

Gran Casa Tabata

Gran Casa Oji

Gran Casa Hikifune

Gran Casa

Gran Casa

Serenite Namba

Sunny Life Shibaura

6 properties

Ryogoku East

Minami-Senju

Plie

1 property

Total

Total

Acquisition

Acquisition

Price JPY 9.7

Price JPY 6.2

billion

billion

Location

Kita, Tokyo

Kita, Tokyo

Sumida, Tokyo

Sumida, Tokyo

Arakawa, Tokyo

Osaka, Osaka

Location

Minato, Tokyo

Acquisition Date

Oct 4, 2022

Oct 4, 2022

Oct 4, 2022

Oct 4, 2022

Oct 4, 2022

Oct 4, 2022

Acquisition Date

Oct 4, 2022

Acquisition Price

JPY 825 million

JPY 1,150 million

JPY 2,760 million

JPY 1,120 million

JPY 1,159 million

JPY 2,739 million

Acquisition Price

JPY 6,280 million

Appraisal Value

JPY 917 million

JPY 1,210 million

JPY 2,900 million

JPY 1,160 million

JPY 1,260 million

JPY 2,790 million

Appraisal Value

JPY 6,450 million

Completion Date

Aug 2021

Sep 2021

May 2021

Feb 2021

Dec 2021

Nov 2021

Completion Date

Apr 2020

# of Leasable Units

32 units

42 units

92 units

33 units

37 units

154 units

# of Leasable Units

228 units

Occupancy Rate

100%

95.9%

98.6%

100%

100%

96.6%

Occupancy Rate

100%

Appraisal NOI Yield

3.9%

3.9%

4.0%

4.0%

4.4%

4.2%

Appraisal NOI Yield

4.0%

Operator

Kawashima

(Note) "Occupancy" rate is the value as of the end of October 2022.

Corporation

Notes on this page are provided on the page 69.

2

Topics

  • Rent Increase at Tenant Turnover and Maintaining High Occupancy Rate (Rental Housing)

(Refer page from 11 to 13)

Monthly rent at tenant turnover continues to increase

Maintain high occupancy rate

33rd FP : +1.5％

33rd FP Term End : 98.3%

(+JPY 2,122 thousand)

33rd FP Average : 97.9%

  • Realization of Distribution Growth

(Refer page 9)

Result 33rd FP (Sep 2022)

Forecast 34th FP (Mar 2023): JPY 2,200

(vs. initial forecast ＋20)

JPY 2,180

Forecast 35th FP (Sep 2023): JPY 2,200

Promotion of ESG Efforts

(Refer page 33)

In the 2022 "GRESB Rating", the evaluation has improved from the previous "1 Star" to "2 Star".

(Note) "DLI" used in this document refers to Daiwa Securities Living Investment Corporation, and "Asset Management Company" refers to Daiwa Real Estate Asset Management,

3

which is the asset management company of Daiwa Securities Living Investment Corporation.

Table of Contents

Section 1

Financial Results for the 33rd (September 2022) Fiscal Period

Forecast for the 34th (March 2023) and the 35th (September 2023) Fiscal Periods

P 5

Section 2

Operation Status of Rental Housing

P 10

Section 3

Operation Status of Healthcare Facility

P 16

Section 4

Summary of External Growth

P 20

Section 5

Financial Strategy and Status

P 23

Section 6

Strategy

P 27

Section 7

Initiatives for ESG

Appendices

  1. 31 P 37

Unless otherwise noted in this document, amounts are rounded down to the nearest whole number, percentage and average.

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Daiwa Securities Living Investment Corporation published this content on 28 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 November 2022 08:34:04 UTC.