Olinas Tower

B-11 Greater Tokyo Office Very large Sponsor

A Landmark building in the Kinshicho area

Olinas Tower is a landmark building in the Kinshicho area, situated near central Tokyo approximately 10 minutes from Tokyo Station.
Located on the site of a former Seikosha (Seiko) plant, it is an integrated office, retail, and residential development carried out by JPR sponsor Tokyo Tatemono that was completed in 2006. With access to both JR and the Hanzomon subway line, this safe, convenient, high-grade office building has over 500 tsubos per floor and features 2.9 meter-high ceilings, cutting-edge security and air-conditioning systems, and a vibration-damping structure.

Access Map

Related Press Releases

Notice Concerning Property Acquisition (Conclusion of Agreement) (Olinas Tower)

Property Overview

Address Sumida-ku, Tokyo1-3 Taihei 4-Chome
Structure/Floors SRC, RC, S  B2/45F Acquisition Price (million yen) 31,300
Total Floor Space (m2) 257,842.41 Leasable Space (m2) 23,987.40
Completed 2006-2 Standard Floor Space (m2) 1,757.77
Acquisition Date June 29, 2009 No. of Tenants 16
Related website
  • (Note1) The abbreviations of the “Structure/Floors represent the following, respectively:
  • S: steel-framed RC: reinforced concrete SRC: steel-framed, reinforced concrete
  • (Note2) The acquisition price indicates the transfer price stated in the real estate transaction agreement or trust beneficiary transfer agreement, rounded down to the nearest million yen, and excludes various expenses required for the acquisition of the relevant real estate, etc. and consumption tax, etc.
  • (Note3) The “Total Floor Space” indicates the area of the entire building (including the interests owned by other sectional owners or co-owners) based on the registry.
  • (Note4) The “Leasable Space” indicates the area of the portions owned by JPR.
  • (Note5) Number of floors indication of the buildings is indication in the registration, and the real indication of the building is 1st, 4th-17th floors.
  • (Note6) Number of floors indication of the buildings is indication in the registration that includes a condominium, and Olinas Tower (an office building) is underground the first floor, ground 31 stories.
  • (Note7) The above site area and total floor space indicate the area for the entire redevelopment project according to the registration.

Floor Plan (Japanese)

Management Status

37th 38th 39th 40th
Rental Revenues (million yen) 1,030 1,029 1,015 1,017
Rental Expenses (million yen) 244 229 218 243
NOI from Leasing (million yen) 786 800 796 773
Depreciation (million yen) 262 262 264 260
Rental Income (million yen) 523 537 531 513
Capital Expenditures (million yen) 12 28 15 37
Period-End Occupancy Rate (%) 100.0 100.0 100.0 98.3
NOI Yield (%) 5.0 5.1 5.1 4.9
NOI Yield after Depreciation (%) 3.4 3.4 3.4 3.3
Appraisal Value (million yen) 40,000 40,100 39,600 40,000
Gain or Loss from Valuation (million yen) 13,517 13,852 13,601 14,224
Cap Rate (%) 3.6 3.6 3.6 3.5
  • (Note1) Period-end occupancy rate = Leased space/Leasable space
  • (Note2) Annualized NOI yield = (Rent revenue - Realestate expenses related to rent business) + Depreciation/Acquisition price
  • (Note3) Annualized NOI yield(after depreciation) = (Rent revenue - Realestate expenses related to rent business)/Acquisition price
  • (Note4) Unrealized gains or losses = Appraisal value - Book value
  • (Note5) Cap rate indicates the capitalization rate by the direct capitalization method. Direct capitalization method is one of the methods to calculate the value estimated by income approach (a method to estimate the value of the target property by calculating the sum total of present value of the net operating income which the target property is expected to generate in the future), and capitalizes the net operating income of a certain period by using the capitalization rate.
  • (Note6) The amounts and areas are rounded down to the nearest specified unit, and the percentages and other figures are rounded off to the nearest specified unit.

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