銘柄情報

Global One Real Estate Investment Corporation

Office building REIT sponsored by the Meiji Yasuda Life Insurance Group, Kintetsu Group, and Mitsubishi UFJ Financial Group, all of contribute equally. With its investment policy of investing in properties that are near train stations, which are new, and are iconic, large-scale buildings in a given area (near, new, and large), it aims to acquire only quality properties. About 85% of the investment areas are in the Tokyo metropolitan area, mainly central Tokyo.

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2022/05/19Update

投資指標の計算式について

Investment amount per unit

Unitholders' capital / Number of investment units authorized

NAV per unit

((Unitholders' capital + Investment surplus) + (Portforio assets appraisal value - ortfolio assets book value) / Number of investment units authorized

P/NAV

Investment unit price / NAV per unit

FFO per unit

(Net income + depreciation + profit and loss on real estate) / Number of investment units authorized

P/FFO

Investment unit price / FFO per unit

NOI

Rental business income + depreciation

NOI yield

NOI / Portfolio assets book value

Implied cap rate

NOI / (Market capitalization + (Interest-bearing liabilities - cash on hand and in bank) + Security and guarantee deposits received

Market capitalization

Investment unit price * Number of investment units authorized

LTV

Interest-bearing liabilities / Total assets

DSCR

NOI / (Interest-bearing liabilities at end of previous period - Interest-bearing liabilities at end of current period + current interest expense)

EV / EBITDA

Market capitalization + (Interest-bearing liabilities - cash on hand and in bank) / NOI

Ratio of long-term fixed interest rate

Long-term fixed interest / Interest-bearing liabilities

Corporate Data

Investment Corporation Name Global One Real Estate Investment Corporation
Abbreviation GOR
Securities code 8958(JPX)
Listing date 2003/09/25
Time elapsed 18.87 year
Closing months March / September
URL http://www.go-reit.co.jp/
Unitholders' capital 92,401Million JPY
Number of investment units authorized 948,996Unit
Investment amount per unit 97,367JPY
Rating JCR:AA- 
Type of assets under management Office Building REIT / OfficeBuildings:100%
Management target regions
Tokyo Central 5 Wards:44.5% Other Tokyo 23 Wards:25.3% Tokyo Suburban Areas:21.3% Major Three Metropolitan Areas Other than Tokyo Metropolitan Area:8.9%
Number of investment properties 11
Number of tenants 194
Total leasable floor space 129,243.28㎡

Investment Index Information

NAV per Unit -67,851JPY
Unit Price / NAV per Unit -1.62
FFO per Unit 3,294JPY
Unit Price / FFO per Unit 33.45
NOI Yield 3.60%
Implied Cap Rate 3.27%
Market capitalization 104,579Million JPY
Acquisition book value 191,194Million JPY
Term-end book value 181,369Million JPY
Appraisal value 21,771Million JPY
Interest-bearing liabilities 94,200Million JPY
LTV 47.38%
EV / EBITDA 27.94
Average maturity of borrowings 3.7year
Ratio of long-term fixed interest rate
Average occupancy rate 98.0%
Average age of buildings 18.37year

Investment Management Policies

  • Invests primarily in real estate consisting of buildings whose prime function is as offices and their sites, as well as related securities backed by such real estate, real estate trust beneficiary rights, and other assets.
  • The main areas it targets for investment are the major cities in the three main metropolitan areas (Tokyo metropolitan area, Kinki area and Chubu area), as well as designated cites outside the three main metropolitan areas.
  • In line with its focus on the three factors of Near (properties in excellent locations), New (properties of low age), and Large (large properties), it invests by carefully selecting excellent real estate-related assets that are highly competitive in the medium to long term that have superiority in the market.

Other Related Corporations

Asset Manager Global Alliance Realty Co., Ltd.
Update 2022/05/19 Capital 400Million JPY
Major Shareholders 10% Meiji Yasuda Life Insurance Company Other Shareholders
10% Kintetsu Group Holdings Co.,Ltd.
10% Mori Building Co., Ltd.
5% The Bank of Tokyo-Mitsubishi UFJ, Ltd .
5% Mitsubishi UFJ Trust and Banking Corporation

Account Settlement InformationFY2022-3(Million JPY)

35th 36th 37th
(most recent)
38th forecast 39th forcast
Revised Date Revised Date
Operating revenue 5,688 5,759 5,655 5,674 5,564
Operating income 2,737 2,740 2,644 2,691 2,617
Ordinary income 2,352 2,353 2,255 2,304 2,230
Net income 2,351 2,352 2,254 2,302 2,229
Short-term borrowings 6,000 11,000 9,750
Long-term borrowings 69,500 64,500 65,750
Investment corporation bonds 19,000 19,000 18,700
Total assets 200,600 200,776 198,819
Net assets 96,805 96,806 95,208
Distribution per unit 2,445
JPY/per Unit
2,446
JPY/per Unit
2,411
JPY/per Unit
2,426
JPY/per Unit
2,400
JPY/per Unit

Other Affiliated Companies

Asset custodian Mitsubishi UFJ Trust and Banking Corporation Accounting auditor Ernst & Young ShinNihon LLC
Accounting services Mitsubishi UFJ Trust and Banking Corporation Unitholders registry administrator Mitsubishi UFJ Trust and Banking Corporation
Tax administration services Mitsubishi UFJ Trust and Banking Corporation Investment corporation bond administrator Mitsubishi UFJ Trust and Banking Corporation
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