Asset Manager
REIT Sponsor

Ichigo Office REIT


Specialized Office REIT Focused on Mid-Size Offices with Return Stability and Upside Potential

Ichigo Office REIT (8975) is a specialized office REIT that focuses on mid-size offices, an asset class that offers both return stability and upside potential. Ichigo Office REIT seeks to drive higher earnings and sustainable growth for its shareholders by increasing the value of its assets through a broad array of value-add activities, including tailored tenant services, structural building improvements, and targeted tenant leasing.

Ichigo Office REIT is managed by Ichigo Investment Advisors, the asset management subsidiary of Ichigo, a major Japanese real estate owner/operator. Ichigo Investment Advisors works to grow value on behalf of shareholders by deploying its deep experience and know-how in developing, operating, and managing Japanese real estate.

The mid-size offices in which we invest produce stable cashflows, supporting stable dividends for shareholders. Also, this economically-sensitive asset class provides upside for shareholders via the possibility of higher rent income as the Japanese economy shows signs of emerging from multiple decades of deflation.

Furthermore, because the market for mid-size offices in Japan is relatively inefficient and has less participation by other major real estate companies, who tend to focus on larger assets, there is a significant opportunity to add value and increase the profitability of the assets we acquire.
April 2020 (Actual)
JPY 2,163
October 2020 (Forecast)
JPY 2,106
April 2021 (Forecast)
JPY 2,087
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Portfolio Data
(as of September 30, 2020)
Number of Assets
Total Acquisition Price
JPY 202 billion
Portfolio Occupancy (Flash Data
as of the end of September 2020)
97.7 %
Financial Data
Earnings (354KB)
Corporate Presentation (4.8MB)
Semi-Annual Report (2.8MB)