Portfolio Overview

As of August31, 2011
Canal City Hakata Retail 4.15,1996 21.4 32,000 33,400 5.1 45,978.62
Canal City Hakata B Retail 4.15,1996 19.2 28,700 28,700 5.3 63,684.73
Park Place Oita Retail 3.26,2002
4.17,2002
4.28,2004
4.9,2007
3.31,2008		 10.5 15,700 16,700 6.3 103,949.58
SunLiveCity Kokura Retail 3.17,2005 4.4 6,633 7,350 6.6 61,450.22
Square Mall Kagoshima Usuki Retail 9.19,2006 3.5 5,300 4,910 6.9 14,661.72
Kumamoto Intercommunity SC Retail 11.15,2006 1.6 2,400 2,430 6.6 6,968.66
AEON Hara Shopping Center Retail 10.26,1976 3.6 5,410 4,690 8.0 27,580.75
Hanahata SC Retail 7.10,2007 0.8 1,130 1,170 6.1 2,801.15
Kurume Higashi Kushiwara SC Retail 12.3,2007 1.7 2,500 2,520 6.1 6,467.80
K's Denki Kagoshima Retail 11.17,2007 2.4 3,550 3,400 6.0 7,296.17
Retail Property Total - - 69.1 103,323 105,270 - 340,839.40
Canal City Business Center Building Office 4.15,1996 9.8 14,600 14,900 5.3 23,050.30
Gofukumachi Business Center Office 10.16,2003 7.5 11,200 12,900 5.2 19,907.91
Sanix Hakata Building Office 3.31,2001 2.9 4,400 4,690 5.4 6,293.76
Taihaku Street Business Center Office 3.7,2002 4.7 7,000 6,640 5.9 14,653.95
Higashi Hie Business Center Office 2.6,2009 3.9 5,900 6,070 6.0 13,695.51
Office Building Total - - 28.8 43,100 45,200 - 77,601.43
Amex Akasakamon Tower Others 7.26,2005 1.4 2,060 1,650 6.0 4,755.14
City House Keyaki Dori Others 11.17,2007 0.7 1,111 1,000 5.9 2,710.86
Other Total - - 2.1 3,171 2,650 - 7,466.00
Total - - 100.0 149,594 153,120 - 425,906.83
(*1) "Appraisal value" was calculated based on the appraisal book at the end of latest period.
(*2) Acquisition costs do not include fees, public charges and expenses
(*3) "Appraisal CAP rate (NCF basis)" were calculated under the direct capitalization method in the appraisal at the end of period.
(*4) "Total Leasable Area", which is able to lease the floor at the end of latest fiscal period.