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Kenedix Residential Next Investment Corporation
Rental housing REIT sponsored by Kenedix. KDR merged with Japan Senior Living Investment Corporation on March 1, 2018. By this merger, KDR continues to invest mainly in residential facilities (rental housing, etc.) but added healthcare facilities (homes for the elderly, etc.) and accommodation (hotels, etc.) in KDR’s main target investments and made a new start as a new investment corporation pursuing stable revenue and sustained growth through wide-ranging investment spanning the “spaces where people live and stay”.(Excerpt from the website of Kenedix Residential Next Investment Corporation ）
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Unit Price and Trading Volume
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Unit Yield, Sector Average and Overall Average
Corporate Data
| Investment Corporation Name | Kenedix Residential Next Investment Corporation |
|---|---|
| Abbreviation | KDR |
| Securities code | 3278（JPX） |
| Listing date | 2012/04/26 |
| Time elapsed | 10.29 year |
| Closing months | January / July |
| ＵＲＬ | http://www.kdr-reit.com/ |
| Unitholders' capital | 125,564Million JPY |
| Number of investment units authorized | 1,045,758Unit |
| Investment amount per unit | 120,070JPY |
| Rating | JCR:AA- |
| Type of assets under management | Rent Housing REIT / Residential facilities：75.3％ Healthcare facilities：22.9％ Accomodations：1.8％ |
| Management target regions | Tokyo Metropolitan Area：65.8％ Regional Areas：33.7％ Other：0.5％ |
| Number of investment properties | 165 |
| Number of tenants | 165 |
| Total leasable floor space | 529,020.75㎡ |
Investment Index Information
| NAV per Unit | 204,402JPY |
|---|---|
| Unit Price / NAV per Unit | 1.07 |
| FFO per Unit | 5,632JPY |
| Unit Price / FFO per Unit | 38.90 |
| NOI Yield | 3.83％ |
| Implied Cap Rate | 2.82％ |
| Market capitalization | 229,126Million JPY |
| Acquisition book value | 277,569Million JPY |
| Term-end book value | 275,695Million JPY |
| Appraisal value | 344,484Million JPY |
| Interest-bearing liabilities | 155,820Million JPY |
| LTV | 51.53％ |
| EV / EBITDA | 34.11 |
| Average maturity of borrowings | 4.1year |
| Ratio of long-term fixed interest rate | |
| Average occupancy rate | 97.3％ |
| Average age of buildings | 14.37year |
Investment Management Policies
- Kenedix Residential NEXT Investment Corporation (“KDR”) is committed to maximizing the profits of unitholders by realizing stable rental revenues and steady growth of the asset size with investment in a broad range of properties from residential to healthcare and accommodations (“spaces where people live and stay”)
KDR will realize strong profitability and sustainable growth by focusing on three asset types with different profit characteristics and market cycles.
Other Related Corporations
| Asset Manager | Kenedix Real Estate Fund Management, Inc. | |||
|---|---|---|---|---|
| Update | 2022/03/16 | Capital | 100Million JPY | |
| Major Shareholders | 100％ | Kenedix, Inc. | Other Shareholders | |
Account Settlement InformationFY2022-1(Million JPY)
| 18th | 19th |
20th （most recent） |
21th forecast | 22th forcast | |
| Revised Date |
Revised Date |
||||
| Operating revenue | 8,382 | 9,195 | 9,143 | 9,407 | 9,486 |
| Operating income | 4,344 | 4,822 | 4,840 | 4,884 | 4,963 |
| Ordinary income | 3,632 | 4,147 | 4,119 | 4,137 | 4,224 |
| Net income | 3,631 | 4,146 | 4,119 | 4,136 | 4,223 |
| Short-term borrowings | 17,200 | 21,950 | 22,250 | ||
| Long-term borrowings | 121,020 | 116,270 | 125,870 | ||
| Investment corporation bonds | 7,000 | 8,700 | 7,700 | ||
| Total assets | 283,172 | 293,176 | 302,410 | ||
| Net assets | 127,132 | 135,218 | 135,790 | ||
| Distribution per unit | 4,066 JPY/per Unit |
4,117 JPY/per Unit |
4,101 JPY/per Unit |
4,101 JPY/per Unit |
4,120 JPY/per Unit |
Other Affiliated Companies
| Asset custodian | Mizuho Trust & Banking Co., Ltd. | Accounting auditor | Ernst & Young ShinNihon LLC |
|---|---|---|---|
| Accounting services | Mizuho Trust & Banking Co., Ltd. | Unitholders registry administrator | Sumitomo Mitsui Trust Bank, Limited |
| Tax administration services | Mizuho Trust & Banking Co., Ltd. | Investment corporation bond administrator | Sumitomo Mitsui Trust Bank, Limited |
