Nisshin Private Residential Reit, Inc.

Photo:N-stage Akabaneshimo

N-stage Akabaneshimo

Photo:Kawasaki Sakuramoto WEST

Kawasaki Sakuramoto WEST

Nisshin Private Residential Reit, Inc.(NSPR) is an unlisted, open-ended investment corporation whose main sponsor is NISSHIN GROUP HOLDINGS Company, Limited, a mid-sized condominium developer. NSPR invests primarily in rental residential properties. NSPR identifies superior properties located primarily in the Tokyo Metropolitan region, where continued demand for rental housing is expected as a result of future population shifts and smaller households, and seeks to improve the quality of its portfolio by increasing the satisfaction of tenants of its rental residential properties. It conducts operations intended to maximize unitholder value by achieving steady growth of assets under management and stable income over the medium to long term.

Overview

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Asset Manager NISSHIN FUDOSAN Investment Advisors, Inc.
The Date To
Start Operating
March 23, 2018
Investment Policy NSPR seeks to maximize unitholder value by achieving steady growth of assets under management and stable income over the medium to long term.
Investment Targets Rental housing (including company housing and student dorms)
(investment ratio: 100%)
Portfolio
Development Policy
■ Investment target regions
 - Tokyo metropolitan region(Tokyo, Kanagawa, Saitama, and Chiba): At least 80%

 - Regional cities (cities outside the Tokyo metropolitan region with populations of at least
      300,000 or within commuting range (within a radius of about 20 km)): No more than 20%


■ Sponsor-developed new properties
 (properties that are no more than three years old at the time of acquisition by NSPR): At least 50%
Fiscal period The end of June and December

Portfolio(As of December 31, 2022)

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The Number of Properties 33 properties
The Amount of
Acquisition Price
35,672 million yen
The Amount of
Appraisal Value (Note1)
38,490 million yen
Appraisal
NOI Yield (Note2)
5.2%
Ratio in Tokyo
Metropolitan Region
100%
Total Leasable Area 63,689.58㎡
Average
Occupancy Rate
 97.7%
Average Age (Based
on Acquisition price)
8.5years
 Total Number of
Leasable Units
2,349units
(Note 1) The total appraisal value as of December 31, 2022.

(Note 2) The value equal to the total amount of NOI based on the direct capitalization method in appraisal reports divided by the total acquisition price.

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