SAMTY RESIDENTIAL INVESTMENT CORPORATION November 30, 2021
For Translation Purposes Only
Real Estate Investment Trust Securities Issuer
Samty Residential Investment Corporation
1-8-3 Marunouchi, Chiyoda-ku, Tokyo
Masafumi Takahashi, Executive Director
(Securities Code: 3459)
Asset Management Company:
Samty Asset Management Co., Ltd.
Masafumi Takahashi, Representative Director
Inquiries: Hidekazu Nizawa
Director
Head of Business Management Division
Phone: + 81-3-5220-3841
Notice Concerning Completion of Acquisition of Properties
Samty Residential Investment Corporation ("Samty Residential") announces that it today completed acquisition of the following 3 properties as announced in "Notice Concerning Acquisition of Properties" dated November 15, 2021. In addition, Samty Residential again announces the overview of the properties as details concerning "Leased area," "Number of tenants," "Monthly rental revenue" and "Security and guarantee deposits," which were undecided at the time of the announcement, have been finalized. Changes from "Notice Concerning Acquisition of Properties" dated November 15, 2021, are underlined.
1. Completion of Acquisition of Properties
Property | Property name | Location | Acquisition price (Note) |
number | (million yen) | ||
Major Regional Cities | |||
A-84 | S-RESIDENCE Joshin II | Nishi-ku,Nagoya-shi | 787 |
A-85 | S-RESIDENCE Sengencho | Nishi-ku,Nagoya-shi | 443 |
Other Regional Cities | |||
B-45 | S-FORT Utsunomiya Minamiodori | Utsunomiya-shi, Tochigi | 1,309 |
Total | 2,539 |
(Note) "Acquisition price" is the amount that was required for the acquisition of the acquired assets excluding various costs such as commissions for mediation of transaction, taxes and public dues, etc. (the amount of the price of purchase of the real estate, etc. indicated in the purchase agreement, etc.) Amounts of less than 1 million yen are rounded down.
Disclaimer: This translation is for informational purposes only. Neither Samty Residential Investment Corporation nor Samty Asset Management Co., Ltd. guarantees the accuracy or completeness of the translation. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.
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2. Details of Acquired Assets
"A-84S-RESIDENCE Joshin II"
Property name | S-RESIDENCE Joshin II | ||||||||
Location | 2-16-2 Kaminagoya, Nishi-ku,Nagoya-shi, Aichi | ||||||||
Type of specified asset | Real estate trust beneficiary interest | ||||||||
Planned acquisition price | 787 million yen | ||||||||
Trustee | Mizuho Trust & Banking Co., Ltd. | ||||||||
Trust establishment date | November 30, 2021 | ||||||||
Trust expiration date | November 30, 2031 | ||||||||
Planned acquisition date | November 30, 2021 | ||||||||
Type of ownership | Ownership | ||||||||
Site area | 769.16 m2 (Note 1) | ||||||||
Land | Building coverage | 80% | |||||||
ratio | |||||||||
Floor area ratio | 200% | ||||||||
Zoning | Neighborhood commercial district | ||||||||
Type of ownership | Ownership | ||||||||
Use | Apartment | ||||||||
Building | Total floor area | 1,631.16 m2 | |||||||
Completion date | August 24, 2021 | ||||||||
Structure and floors | Reinforced concrete structure, flat roof, 10 floors | ||||||||
Number of leasable | 58 | ||||||||
units | |||||||||
Collateral | None | ||||||||
Property management | Samty Property Management Co., Ltd. | ||||||||
company | |||||||||
Master lease company | Samty Property Management Co., Ltd. | ||||||||
Master lease type | Pass-through lease (Note 2) | ||||||||
Appraisal value | 801 million yen (September 30, 2021) | ||||||||
(date of value) | |||||||||
Real estate appraiser | DAIWA REAL ESTATE APPRAISAL CO., LTD. | ||||||||
Probable maximum loss | 8.7% | ||||||||
(PML value) | |||||||||
Overview of leasing | |||||||||
Total leasable area | 1,486.62 m2 | ||||||||
Leased area | 1,486.62 m2(Note 2) | ||||||||
Number of tenants | 1(Note 2) | ||||||||
Monthly rental revenue | 4,143 thousand yen(Note 2) | ||||||||
Security and guarantee | 500 thousand yen(Note 2) | ||||||||
deposits | |||||||||
Occupancy rate | June 2021 | July 2021 | August 2021 | September 2021 | October 2021 | ||||
- (Note 2) | - (Note 2) | - (Note 2) | - (Note 2) | 34.6% (Note 2) | |||||
The property is about a 6-minute walk from Joshin Station on the Nagoya City | |||||||||
Subway Tsurumai Line and has single-type units. The property offers excellent | |||||||||
transportation convenience to the central commercial areas and the main business | |||||||||
districts as Joshin Station to Nagoya Station is about a 6-minute ride via Marunouchi | |||||||||
Characteristics of the property | Station on the Nagoya City Subway Sakura-dori Line and Sakae Station is about a 7- | ||||||||
minute ride via Fushimi Station on the Nagoya City Subway Higashiyama Line. | |||||||||
In addition, there are convenience stores, supermarkets, etc. within walking | |||||||||
distance and also parks and other public facilities, making the district one that offers | |||||||||
both living convenience and a favorable living environment. | |||||||||
With such characteristics, the property is believed to be highly competitive in the | |||||||||
leasing market shared with areas of similar supply and demand. | |||||||||
Special remarks | Not applicable |
(Note 1) The site area includes a portion of private road burden (about 0.37 m2) based on Article 42, Paragraph 1, Item 1 of the Building Standards Act.
Disclaimer: This translation is for informational purposes only. Neither Samty Residential Investment Corporation nor Samty Asset Management Co., Ltd. guarantees the accuracy or completeness of the translation. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.
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(Note 2) The property was handed over to Samty Co., Ltd. ("Samty")by a construction company on September 30, 2021 after completion, and is currently being leased. Concerning the property, effective as of November 30, 2021, a pass-through master lease agreement between the trustee and Samty Property Management Co., Ltd., and a lease agreement between Samty Property Management Co., Ltd. and Samty, the seller of the property, have been concluded. The agreement stipulates that Samty guarantees lease as the end tenant until November 29, 2023, in principle, with the number of vacancies as of November 30, 2021 as the upper limit, and units that are occupied as of November 30, 2021 or become newly vacant after the conclusion of the agreement are not subject to Samty's lease.
Overview of the rental unit lease agreement
Monthly | Security and | ||||
rent | |||||
Name of tenant | Contract period | guarantee deposits | |||
(thousand | |||||
(thousand yen) | |||||
yen) | |||||
Samty Co., Ltd. | 4,049 | From November 30, 2021, to November 29, 2023 | - | ||
Rent revision: | There is no rent revision clause. | ||||
Cancellation: | The lessee may end the agreement by consultation on or after November 29, 2022, or when the remaining residential | ||||
units subject to the agreement becomes two units. However, even on or before November 30, 2021, if a tenant finds | |||||
Samty Property Management Co., Ltd., the lessor, an end tenant to substitute under similar lease terms and |
conditions as the concerned rental unit lease agreement and a new lease agreement is concluded between Samty Property Management Co., Ltd. and the new end tenant, Samty may have the rental unit lease agreement with Samty Property Management Co., Ltd. canceled, effective the day preceding the date of commencement of the concerned new lease agreement, limited to the residential units subject thereto.
(Note 3) The monthly rent payable by Samty will decrease if the rental unit lease agreement is partially canceled based on the provisions of cancellation stated above.
Disclaimer: This translation is for informational purposes only. Neither Samty Residential Investment Corporation nor Samty Asset Management Co., Ltd. guarantees the accuracy or completeness of the translation. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.
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"A-85S-RESIDENCE Sengencho" | |||||||||
Property name | S-RESIDENCE Sengencho | ||||||||
Location | 1-5-6 Sengen, Nishi-ku,Nagoya-shi, Aichi | ||||||||
Type of specified asset | Real estate (Actual real estate) | ||||||||
Planned acquisition price | 443 million yen | ||||||||
Trustee | - | ||||||||
Trust establishment date | - | ||||||||
Trust expiration date | - | ||||||||
Planned acquisition date | November 30, 2021 | ||||||||
Type of ownership | Ownership | ||||||||
Site area | 221.34 m2 | ||||||||
Land | Building coverage | 80% | |||||||
ratio | |||||||||
Floor area ratio | 400% | ||||||||
Zoning | Commercial district | ||||||||
Type of ownership | Ownership | ||||||||
Use | Apartment | ||||||||
Building | Total floor area | 971.24 m2 | |||||||
Completion date | October 8, 2021 | ||||||||
Structure and floors | Reinforced concrete structure, flat roof, 10 floors | ||||||||
Number of leasable | 36 | ||||||||
units | |||||||||
Collateral | None | ||||||||
Property management | Samty Property Management Co., Ltd. | ||||||||
company | |||||||||
Master lease company | Samty Property Management Co., Ltd. | ||||||||
Master lease type | Pass-through lease (Note 1) | ||||||||
Appraisal value | 457 million yen (September 30, 2021) | ||||||||
(date of value) | |||||||||
Real estate appraiser | The Tanizawa Sogo Appraisal Co., Ltd. | ||||||||
Probable maximum loss | 8.9% | ||||||||
(PML value) | |||||||||
Overview of leasing | |||||||||
Total leasable area | 843.75 m2 | ||||||||
Leased area | 843.75 m2(Note 1) | ||||||||
Number of tenants | 1(Note 1) | ||||||||
Monthly rental revenue | 2,446 thousand yen(Note 1) | ||||||||
Security and guarantee | 193 thousand yen(Note 1) | ||||||||
deposits | |||||||||
Occupancy rate | June 2021 | July 2021 | August 2021 | September 2021 | October 2021 | ||||
- (Note 1) | - (Note 1) | - (Note 1) | - (Note 1) | 16.7%(Note 1) | |||||
The property is about a 2-minute walk from Sengencho Station on the Nagoya City | |||||||||
Subway Tsurumai Line and has single-type units. The property offers excellent | |||||||||
transportation convenience to the central commercial areas and the main business | |||||||||
districts as it is about a 6-minute ride via Marunouchi Station on the Nagoya City | |||||||||
Subway Sakura-dori Line from Sengencho Station to Nagoya Station, and Sakae | |||||||||
Station is about a 7-minute ride via Fushimi Station on the Nagoya City Subway | |||||||||
Higashiyama Line. | |||||||||
Characteristics of the property | The surrounding area of Sengencho Station with a concentration of many | ||||||||
restaurants, stores selling daily necessities, etc. offers high living convenience as | |||||||||
well as excellent living environment as hospitals, elementary schools, parks, etc. are | |||||||||
located. Therefore, stable rental demand mainly from single working adult | |||||||||
households who work in the surrounding areas of Nagoya Station and Sakae Station | |||||||||
can be anticipated. | |||||||||
With such characteristics, the property is believed to be highly competitive in the | |||||||||
leasing market shared with areas of similar supply and demand. |
Disclaimer: This translation is for informational purposes only. Neither Samty Residential Investment Corporation nor Samty Asset Management Co., Ltd. guarantees the accuracy or completeness of the translation. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.
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The property has not secured parking capacity under the obligation to set up a parking lot as provided in the Nagoya City ordinance regarding prevention and adjustments of disputes on the construction of medium- to high-rise buildings. Since
Special remarksthe application of exception in the establishment of parking lots as provided in the guidelines for handling parking lots in the detailed enforcement regulations of ordinances regarding prevention and adjustment of disputes on the construction of medium- to high-rise buildings was permitted after having discussions with Nagoya City, the obligation of securing insufficient parking capacity has been excluded.
(Note 1) The property was handed over to Samty by a construction company on October 29, 2021 after completion, and is currently being leased. Concerning the property, effective as of November 30, 2021, a pass-through master lease agreement between the trustee and Samty Property Management Co., Ltd., and a lease agreement between Samty Property Management Co., Ltd. and Samty, the seller of the property, have been concluded. The agreement stipulates that Samty guarantees lease as the end tenant until November 29, 2023, in principle, with the number of vacancies as of November 30, 2021 as the upper limit, and units that are occupied as of November 30, 2021 or become newly vacant after the conclusion of the agreement are not subject to Samty's lease.
Overview of the rental unit lease agreement
Monthly | Security and | ||||
rent | |||||
Name of tenant | Contract period | guarantee deposits | |||
(thousand | |||||
(thousand yen) | |||||
yen) | |||||
Samty Co., Ltd. | 2,425 | From November 30, 2021, to November 29, 2023 | - | ||
Rent revision: | There is no rent revision clause. | ||||
Cancellation: | The lessee may end the agreement by consultation on or after November 29, 2022, or when the remaining residential | ||||
units subject to the agreement becomes one unit. However, even on or before November 30, 2021, if a tenant finds |
Samty Property Management Co., Ltd., the lessor, an end tenant to substitute under similar lease terms and conditions as the concerned rental unit lease agreement and a new lease agreement is concluded between Samty Property Management Co., Ltd. and the new end tenant, Samty may have the rental unit lease agreement with Samty Property Management Co., Ltd. canceled, effective the day preceding the date of commencement of the concerned new lease agreement, limited to the residential units subject thereto.
(Note 2) The monthly rent payable by Samty will decrease if the rental unit lease agreement is partially canceled based on the provisions of cancellation stated above.
Disclaimer: This translation is for informational purposes only. Neither Samty Residential Investment Corporation nor Samty Asset Management Co., Ltd. guarantees the accuracy or completeness of the translation. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.
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Samty Residential Investment Corporation published this content on 24 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 December 2021 07:26:11 UTC.
