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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.
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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 | Global One Real Estate Investment Corporation |
|---|---|
| Abbreviation | GOR |
| Securities code | 8958（JPX） |
| Listing date | 2003/09/25 |
| Time elapsed | 20.19 year |
| Closing months | March / September |
| ＵＲＬ | http://www.go-reit.co.jp/ |
| Unitholders' capital | 100,017Million JPY |
| Number of investment units authorized | 1,022,826Unit |
| Investment amount per unit | 97,785JPY |
| Rating | JCR:AA- |
| Type of assets under management | Office Building REIT / OfficeBuildings：100％ |
| Management target regions | Tokyo Central 5 Wards：39.2％ Other Tokyo 23 Wards：23.9％ Tokyo Suburban Areas：20.1％ Major Three Metropolitan Areas Other than Tokyo Metropolitan Area：8.4％ Government-designated cities other than major 3 metropolitan areas：8.4％ |
| Number of investment properties | 12 |
| Number of tenants | 202 |
| Total leasable floor space | 135,386.95㎡ |
Investment Index Information
| NAV per Unit | 139,913JPY |
|---|---|
| Unit Price / NAV per Unit | 0.80 |
| FFO per Unit | 4,608JPY |
| Unit Price / FFO per Unit | 24.28 |
| NOI Yield | 3.48％ |
| Implied Cap Rate | 3.14％ |
| Market capitalization | 114,454Million JPY |
| Acquisition book value | 202,320Million JPY |
| Term-end book value | 191,794Million JPY |
| Appraisal value | 231,450Million JPY |
| Interest-bearing liabilities | 94,200Million JPY |
| LTV | 46.02％ |
| EV / EBITDA | 29.09 |
| Average maturity of borrowings | 3.5year |
| Ratio of long-term fixed interest rate | |
| Average occupancy rate | 96.3％ |
| Average age of buildings | 18.47year |
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 | 2023/05/18 | 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 InformationFY2023-3(Million JPY)
| 37th | 38th |
39th （most recent） |
40th forecast | 41th forcast | |
| Revised Date |
Revised Date |
||||
| Operating revenue | 5,655 | 5,691 | 5,664 | 7,252 | 7,216 |
| Operating income | 2,644 | 2,679 | 3,341 | 3,740 | 3,796 |
| Ordinary income | 2,255 | 2,293 | 2,924 | 3,311 | 3,361 |
| Net income | 2,254 | 2,292 | 2,923 | 3,310 | 3,360 |
| Short-term borrowings | 9,750 | 10,750 | 18,900 | ||
| Long-term borrowings | 65,750 | 64,750 | 59,000 | ||
| Investment corporation bonds | 18,700 | 18,700 | 18,700 | ||
| Total assets | 198,819 | 198,847 | 209,923 | ||
| Net assets | 95,208 | 95,212 | 103,449 | ||
| Distribution per unit | 2,441 JPY/per Unit |
2,426 JPY/per Unit |
2,860 JPY/per Unit |
3,038 JPY/per Unit |
2,959 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 |
