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This page explains management status in Activia Account properties.
Currently five offices are categorized as Activia Account office properties with an acquisition price of ¥60.8 billion or approximately 12% of entire portfolio, which is not a large portion.
However, a condition for further internal growth has been established and we expect an increase in its presence.
During the period ended May 2019, rent increased in 1,494 tsubo, or 34% of the area where were subject to lease renewal, with an average increase rate of 5.2%, or ¥0.98million per month.
Please see rent gaps at bottom.
As explained earlier, rent gap for Tokyo Office properties is negative 10% and that of Activia Account office properties have widened to negative 20%, exceeding Tokyo Office rent gap.
Due to a difference in commercial environment, etc., trends in office rent increase in Osaka and Nagoya areas are left behind from that of Tokyo Office but such upward trends have certainly been rising and opportunities for rent increase are expanding for these areas.
Next explanation in right is about EDGE Shinsaibashi.
At the acquisition, 827 tsubo was under leasing but currently leasing area has decreased to 273 tsubo and operation is well managed by exceeding our initial business plan.
Please move on to the next page.
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