Growth of Portfolio
Steady Expansion of Asset Size and Enhancement of Portfolio Quality
Japan Prime Realty Investment Corporation (JPR) is a J-REIT with a combined portfolio of office and urban retail properties, and is the fifth REIT that listed in Japan.
Since listing, JPR has steadily expanded its asset size, along with enhancing the diversification effect in terms of properties and tenants by working to diversify investments by asset class and area, which is an advantage of portfolio management. Through these endeavors, JPR has accumulated achievements of stable management. Going forward, JPR will continue to steadily expand its asset size through vigorously selective investment in prime properties, while aiming to enhance the quality of the portfolio.
Established with 13 properties with total assets of 40.7 billion yen
Established in September 2001, JPR started asset management with assets totaling 40.7 billion yen.
Listing on the Tokyo Stock Exchange
Listed as the fifth J-REIT
JPR was listed in June 2002 as the fifth J-REIT and as the first J-REIT with a combined portfolio of office properties and retail properties. Furthermore, a single investment unit of JPR was split into 2.5 units upon its listing. The split was made to lower the per-unit price so that more investors would find it easier to invest in JPR.
Acquisition of Kawasaki Dice Bldg.
JPR acquired Kawasaki Dice Bldg., a blue-chip urban retail property located in a highly bustling area
In April 2007, JPR acquired Kawasaki Dice Building, a retail property situated in a prime location in front of Kawasaki Station, for 15.08 billion yen. With the acquisition, representing one of the largest investments made by JPR in retail properties, JPR aimed to maintain stable revenues from the portfolio.
Shift to focused investments in office properties in Tokyo since acquiring Olinas Tower
Shifted to focused investments in Tokyo with the acquisition of Olinas Tower
In June 2009, JPR acquired Olinas Tower, a landmark building in the Kinshicho area in Tokyo, for 31.3 billion yen. The acquisition heralded JPR's focused investments in office properties in Tokyo for which the real estate market is expected to grow over the medium to long term.
Acquisition of The Otemachi Tower (Land with Leasehold Interest)
Acquired The Otemachi Tower (Land with Leasehold Interest), representing the largest-ever investment by JPR
In March 2012, JPR acquired the land with leasehold interest for The Otemachi Tower, a building completed in Otemachi that is Japan's representative business area, for 36 billion yen. As the term of the lease agreement for the land is 70 years, the property is anticipated to secure stable earnings over the long term.
Acquisition of Yakuin Business Garden
Acquired Yakuin Business Garden, representing a vigorously selective investment in a regional city
Yakuin Business Garden is a high-grade office building adjacent to Tenjin, a central area of Fukuoka. As a vigorously selective investment in an office property in a regional city that features high area competitiveness, the property complements the stability of earnings.
Total assets reaching 400 billion yen
Growing stably as a large-scale REIT with a compound portfolio
Since listing, JPR has constantly acquired properties, and the asset size surpassed 400 billion yen.
Going forward, JPR will continue steady growth with focused investments in office properties in Tokyo.