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Kenedix Office Investment Corporation
Diversified REIT consisting mainly of office buildings, sponsored by Kenedix. The investment policy involves concentrating on medium-scale office buildings in the Tokyo economic zone, mainly the five wards of central Tokyo. Its policy is to expand its asset size, mainly in office buildings, in the future.
Corporate Data
Investment Corporation Name | Kenedix Office Investment Corporation |
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Abbreviation | KDO |
Securities code | 8972(JPX) |
Listing date | 2005/07/21 |
Time elapsed | 17.05 year |
Closing months | April / October |
URL | http://www.kdx-reit.com/ |
Unitholders' capital | 220,970Million JPY |
Number of investment units authorized | 428,510Unit |
Investment amount per unit | 515,671JPY |
Rating | JCR:AA |
Type of assets under management | Mid-sized Office Buildings:84.1% Other Office Buildings:15.3% Others:0.6% |
Management target regions | Five Central Wards Of Tokyo:51.4% Tokyo Metropolitan Area(excluding 5 Central Wards):28.5% Other Regional Areas:20.0% |
Number of investment properties | 97 |
Number of tenants | 1167 |
Total leasable floor space | 482,913.73㎡ |
Investment Index Information
NAV per Unit | 793,279JPY |
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Unit Price / NAV per Unit | 0.89 |
FFO per Unit | 22,998JPY |
Unit Price / FFO per Unit | 30.70 |
NOI Yield | 4.14% |
Implied Cap Rate | 3.50% |
Market capitalization | 302,528Million JPY |
Acquisition book value | 445,606Million JPY |
Term-end book value | 426,967Million JPY |
Appraisal value | 535,600Million JPY |
Interest-bearing liabilities | 205,150Million JPY |
LTV | 44.14% |
EV / EBITDA | 26.78 |
Average maturity of borrowings | 4.1year |
Ratio of long-term fixed interest rate | |
Average occupancy rate | 98.3% |
Average age of buildings | 26.05year |
Investment Management Policies
- Invests with a focus on mid-sized office buildings. Its goal by type is as follows. Rental office buildings that meet the following criteria for total floor area and whose primary type is as offices: 80% to 100%
* Tokyo's 23 wards: Total floor area of 13,000 ㎡ or less
* Outside Tokyo's 23 wards: Total floor area of 20,000 ㎡ or less
Rental office buildings other than above whose primary use is as offices, urban commercial facilities, housing: 0% to 20%
- Invests primarily in real estate, etc., located in the Tokyo metropolitan economic bloc (major cities in Tokyo Prefecture, Kanagawa Prefecture, Saitama Prefecture, Chiba Prefecture).
Other Related Corporations
Asset Manager | Kenedix Real Estate Fund Management, Inc. | |||
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Update | 2022/06/14 | Capital | 100Million JPY | |
Major Shareholders | 100% | Kenedix, Inc. | Other Shareholders |
Account Settlement InformationFY2022-4(Million JPY)
32th | 33th |
34th (most recent) |
35th forecast | 36th forcast | |
Revised Date |
Revised Date |
||||
Operating revenue | 16,301 | 15,028 | 15,891 | 15,959 | 15,600 |
Operating income | 7,900 | 6,857 | 7,427 | 7,114 | 6,743 |
Ordinary income | 7,017 | 5,911 | 6,497 | 6,191 | 5,837 |
Net income | 7,016 | 5,909 | 6,496 | 6,190 | 5,836 |
Short-term borrowings | 21,868 | 29,150 | 22,050 | ||
Long-term borrowings | 159,250 | 156,600 | 1,000 | ||
Investment corporation bonds | 11,000 | 13,000 | 182,100 | ||
Total assets | 457,505 | 456,327 | 464,802 | ||
Net assets | 230,981 | 230,544 | 231,763 | ||
Distribution per unit | 15,384 JPY/per Unit |
14,000 JPY/per Unit |
14,000 JPY/per Unit |
14,150 JPY/per Unit |
14,150 JPY/per Unit |
Other Affiliated Companies
Asset custodian | Mizuho Trust & Banking Co., Ltd. | Accounting auditor | Ernst & Young ShinNihon LLC |
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Accounting services | Mitsubishi UFJ Trust and Banking Corporation | Unitholders registry administrator | Sumitomo Mitsui Trust Bank, Limited |
Tax administration services | Mitsubishi UFJ Trust and Banking Corporation | Investment corporation bond administrator | Sumitomo Mitsui Banking Corporation、Mitsubishi UFJ Trust and Banking Corporation |