Samty Residential Investment Corporation Announces Acquisition of Property
January 23, 2020 at 03:00 am EST
Share
Samty Residential Investment Corporation ("Samty Residential") announced that Samty Asset Management Co. Ltd. (the "Asset Management Company"), to which Samty Residential entrusts management of its portfolio assets, decided to acquire 1 property (the "Asset to Be Acquired") (the "Acquisition"). Details are as follows. Overview of the Asset to Be Acquired: Property name: S-FORT Shizuoka Tennocho. Location: Aoi-ku, Shizuoka-shi. Planned acquisition price is JPY 969 million. Date of conclusion of status transfer contract in purchase agreement is January 23, 2020. Planned date of acquisition is February 3, 2020. Reason for the Acquisition: Samty Residential is aiming to build a portfolio that pursues "Stability" (diversified investments in strictly
selected residential properties nationwide), "Growth potential" (expansion of the portfolio size by continually investing in new properties centered on major regional cities), and "Profitability" (realization of expected high returns by investing in carefully screened residential properties located in major regional cities) through investment in residences mainly in major regional cities. The Acquisition will expand the portfolio to 118 properties for a total (planned) acquisition price of JPY 109.9 billion. Furthermore, the investment ratio by area after the Acquisition is projected to be 72.5% for regional cities (49.9% for major regional cities and 22.6% for other regional cities) and 27.5% for the greater Tokyo area based on the (planned) acquisition price. Samty Residential decided to acquire S-FORT Shizuoka Tennocho, the Asset to Be Acquired, since it is a target investment asset specified in the Articles of Incorporation of Samty Residential, and Tennocho, Aoi-ku where the property stands is located in the center of Shizuoka city offering proximity to the city office and other government offices as well as to Shizuoka Station on the JR Tokaido Main Line; and thus enjoys strong demand from singles and DINKS and expects stable income.
Samty Residential Investment Corp is real estate investment trust (REIT) company. The Company aims to achieve sustainable growth in asset and stable earnings from mid-term to long-term perspectives. The Company mainly invests in rental houses located throughout Japan. Its property portfolio includes S-FORT Shin-Osaka ravir, S-FORT Rokubancho, S-FORT Chikushi-dori, S-FORT Takamiya, S-FORT Aoi and S-FORT Fukuoka Higashi, among others. The asset manager of the Fund is Samty Asset Management Co.,Ltd.