INVESTOR PRESENTATION MATERIAL 3RD FISCAL PERIOD (FISCAL PERIOD ENDED MAY 31, 2021) - SOSILA LOGISTICS REIT, INC.
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Investor Presentation Material
3rd Fiscal Period
(Fiscal Period Ended May 31, 2021)
SOSiLA Ebina
Securities Code: 2979
SOSiLA Logistics REIT, Inc. July 2021
1
Highlights
Summary of the 3rd fiscal period ended May 2021 and earnings forecast
・ DPU for 3rd fiscal period increased to JPY 2,520, 2.9% higher than the forecast.
・ Stabilized DPU increased by 4.8% (actual for the fiscal period ended Nov. 2020 vs. forecast for the fiscal period ending Nov. 2021) due to
the acquisition of new properties and the public offering.
・ There is no impact of COVID-19 on the earnings forecast. (as of Jul. 16, 2021)
SLR’s growth strategy
・ Diversify and expand the portfolio by acquiring properties through the asset manager’s own network, in addition to
the SOSiLA Series properties
・ Achieve asset size of JPY 200 billion or above by steadily acquiring properties in the pipeline
・ Achieve rent increase of 5.2％ at the time of contract renewal through the integrated efforts of Sumitomo Corp. Group
・ File a shelf registration statement for investment corporation bonds and improve the outlook of Issuer Rating
(JCR: A+ Stable → A+ Positive)
ESG initiatives
・ Continue to strengthen ESG initiatives through establishment of environmental targets and participation in GRESB, etc.
・ Improve governance by introducing an investment unit ownership program, etc.
2
Roadmap to Steady Growth
Aim to achieve mid-term asset size target by strategically utilizing LTV to enhance unitholder value
Fiscal Period Ended Mid-term Growth Target
Fiscal Period Ended Fiscal Period Ended Fiscal Period Ending Fiscal Period Ending
May 2020
（1st Fiscal Period）
Nov. 2020
（2nd Fiscal Period ）
May 2021
（3rd Fiscal Period）
Nov. 2021
（4th Fiscal Period）
May 2022
（5th Fiscal Period）
JPY 200 bn or above
Aim to improve credit rating and
Dec. 2020 Dec. 2020
Oct. 2020 Acquisition of meet requirements of major indexes
1st Public
Acquisition of
Offering Ebina 62％ along with asset expansion
Hiratsuka NishiyodogawaⅡ
Asset
JPY 76.5 bn JPY 77.7 bn JPY 100.8 bn
Size
Number of
Tenants
16 17 26 Control stabilized LTV
at between 35-45%
45%
L
37.7% 37.9% 37.0% 37.1%
T
V
34.9%
35%
Aim for further growth
along with asset size expansion
NAV JPY 110,237 JPY 113,800
per unit JPY 106,411
Aim for further growth
along with asset size expansion
JPY 2,390 JPY 2,520 JPY 2,504 JPY 2,522
DPU JPY 2,173
3
Steady Distribution Growth
Stabilized DPU increased by 4.8%
(actual for the fiscal period ended Nov. 2020 vs. forecast for the fiscal period ending Nov. 2021)
+4.8% +5.5%
+2.9%
2,600
JPY 2,520 JPY 2,504 JPY2,522
JPY2,448 JPY2,481
JPY2,390
2,400 JPY2,363
JPY2,173
2,200
2,000
1,800
Initial Actual Previous Previous Revised New
Actual
forecast forecast
Actual forecast forecast forecast
Fiscal Period Ended Fiscal Period Ended Fiscal Period Ended Fiscal Period Ending Fiscal Period Ending
May 2020 Nov. 2020 May 2021 Nov. 2021 May 2022
（1st Fiscal Period） （2nd Fiscal Period） （4th Fiscal Period） （5th Fiscal Period）
（3rd Fiscal Period）
4
Table of Contents
1. Summary of 3rd fiscal period ended
May 2021 and earnings forecast
2. SLR’s growth strategy
3. ESG initiatives
4. Appendix
5
1. Summary of 3rd fiscal period ended
May 2021 and earnings forecast
3rd Fiscal Period: Dec. 1, 2020 to May 31, 2021
6
3rd Fiscal Period Highlights
Debt
Portfolio
Total Interest-bearing Debt JPY 40.7 billion
Number of Properties / LTV (Total Asset)
3rd Fiscal Period (ended May 2021)
Total Acquisition Price Actual 37.9 %
10 Properties / JPY 100.8 billion
Average Borrowing Term 6.1 years
Average Remaining Borrowing Term 4.9 years
Occupancy Rate / Actual NOI Yield Average Interest Rate 0.52 ％
Long-term Issuer Rating (JCR) A+ (Positive)
100.0 % / 4.9 %
Appraisal Value Equity
10 Properties / JPY 108.6 billion
NAV per unit JPY 113,800
Average Building Age (Logistics Properties) P/NAV 1.27 x
3.4 years (Investment unit price of JPY 145,000 on May 31, 2021)
DPU (Surplus Cash Distributions Per Unit
Average Lease Term (Logistics Properties)
9.8 years included)
3rd Fiscal Period (ended May 2021)
Average Remaining Lease Term Actual JPY 2,520
(Logistics Properties) 4th Fiscal Period (ending Nov. 2021)
7.0 years Forecast JPY 2,504
5th Fiscal Period (ending May 2022)
Forecast JPY 2,522
7
Financial Results of 3rd Fiscal Period Ended May 2021
3rd Fiscal Period
Forecast
3rd Fiscal Period
Difference
Main Factors of Variance
Actual
(Announced on (B)－(A）
(B)
Jan. 19, 2021) (A) Operating Revenue -2
（JPY million）
Increase in rent revenue +4
Operating Revenue 3,064 3,061 -2 Decrease in utilities charges -7
Operating Expenses 1,509 1,477 -32
Operating Expenses -32
Expenses relating to leasing Decrease in expenses for property leasing
business 611 584 -26
(excl. Depreciation) business -26
Decrease in utilities -12
Depreciation 518 518 -0 Decrease in repair and maintenance -12
Selling, general and
administrative expenses
380 374 -5 Decrease in SG&A expenses -5
Increase in asset management fees +6
Operating Profit 1,554 1,583 +29 Decrease in asset custody fees and
Non-operating Income － 1 +1 administrative service fees -4
Decrease in other commission expenses -7
Non-operating Expenses 215 202 -13 (Decrease in IR expenses and taxes and public
dues, etc.)
Ordinary Profit 1,338 1,382 +44
Profit 1,337 1,381 +44 Non-operating income -13
Decrease in interest expenses -4
（For reference）NOI 2,453 2,477 +24
Decrease in borrowing related expenses -6
Decrease in investment unit issuance costs -3
（JPY） （A） （B） （B）－（A）
DPU (incl. surplus cash
2,448 2,520 +72
distributions)
DPU (excl. surplus cash
2,187 2,259 +72
distributions)
Surplus cash
261 261 －
distributions per unit
8
Financial Results of 3rd Fiscal Period Ended May 2021
(Comparison with 2nd Fiscal Period Ended Nov. 2020)
2nd Fiscal Period 3rd Fiscal Period
Difference Main Factors of Variance
Actual Actual
（B）－（A）
（JPY million） （Ａ） （B）
Operating Revenue ＋706
Operating Revenue 2,354 3,061 +706 Increase in revenue from property leasing
business +706
Operating Expenses 1,139 1,477 +338
Contribution of three new properties (Hiratsuka,
Expenses relating to leasing Ebina and Nishiiyodogawa II) +726
business 456 584 +128
(excl. Depreciation)
Operating Expenses +338
Depreciation 363 518 +155 Increase in expenses for property leasing
business +128
Selling, general and
administrative expenses
319 374 +55 Contribution of three new properties +144
Operating Profit 1,215 1,583 +368 Increase in depreciation +155
Contribution of three new properties +155
Non-operating Income 6 1 -4
Increase in SG&A expenses +55
Non-operating Expenses 100 202 +102 Increase in asset management fees associated
with an increase in profit +39
Ordinary Profit 1,121 1,382 +261 Increase in other commission expenses +14
(Increase in reporting costs associated with
Profit 1,120 1,381 +261 increase in properties, etc.)
（For reference）NOI 1,898 2,477 +578
Non-operating Income -4
Absence of interest on refund of consumption
（JPY） （A） （B） （B）－（A） taxes -5
DPU (incl. surplus cash Non-operating Expenses ＋102
2,390 2,520 +130
distributions) Increase in interest expenses associated with
new borrowings ＋22
DPU (excl. surplus cash
2,179 2,259 +80 Investment unit issuance costs associated with
distributions)
capital increase ＋47
Surplus cash Increase in borrowing related expenses
211 261 +50 associated with new borrowings ＋32
distributions per unit
9
Forecast for 4th Fiscal Period Ending Nov. 2021
3rd Fiscal Period 4th Fiscal Period
Difference Main Factors of Variance
Actual Forecast
（B）－（A）
（JPY million） （A） （B）
Operating Revenue +28
Operating Revenue 3,061 3,089 +28
Full-period contribution of new properties +7
Operating Expenses 1,477 1,587 +109 Seasonal increase in utilities charges +21
Expenses relating to leasing
business 584 668 +84 Operating Expenses +109
(excl. Depreciation) Increase in expenses for property leasing
Depreciation 518 519 +1 business +84
Increase in management fees +11
Selling, general and
374 398 +23 Seasonal increase in utilities +27
administrative expenses
Full-period contribution of property tax of
Operating Profit 1,583 1,502 -81 new properties +33
Increase in repair and maintenance expenses
Non-operating Income 1 － -1
+15
Non-operating Expenses 202 129 -72 Increase in SG&A expenses +23
Increase in asset management fees associated
with an increase in assets +21
Ordinary Profit 1,382 1,372 -9
Increase in administrative service fees
Profit 1,381 1,371 -9 associated with the General Meeting of
Unitholders +8
（For reference）NOI 2,477 2,421 -55 Increase in other commission expenses -5
(Absence of costs for the medium- to long-
（JPY）
（JPY） （A）
（A） （B）
（B） （B）－（A）
（B）－（A） term repair and maintenance plans)
DPU (surplus
DPU (incl. cash
surplus cash
2,520 2,504 Non-operating Expenses -72
distributions) 2,390 2,448 + -16
58
distributions incl.)
Absence of investment unit issuance costs
DPU (surplus
DPU (excl. cash
surplus cash associated with capital increase -47
2,179
2,259 2,187
2,243 + 8
-16
distributions
distributions) excl.) Absence of borrowing related expenses
associated with new borrowings -26
Surplus cash
Surplus cash 211
261 261
261 + 50
－
distributions perunit
distributions per unit
10Forecast for 5th Fiscal Period Ending May 2022
4th Fiscal Period 5th Fiscal Period
Difference
Forecast Forecast Main Factors of Variance
（B）－（A）
（JPY million） （A） （B）
Operating Revenue 3,089 3,072 -17 Operating Revenue -17
Operating Expenses 1,587 1,562 -25 Seasonal decrease in utilities charges -17
Expenses relating to leasing
business 668 646 -22 Operating Expenses -25
(excl. Depreciation)
Decrease in expenses for property leasing
Depreciation 519 519 － business -22
Seasonal increase in utilities -16
Selling, general and
administrative expenses
398 395 -3 Decrease in repair and maintenance -4
Operating Profit 1,502 1,510 +8 Increase in SG&A expenses -3
Decrease in administrative service fees -2
Non-operating Income － － －
Non-operating Expenses -2
Non-operating Expenses 129 127 -2 Decrease in interest expenses -2
Ordinary Profit 1,372 1,383 +10
Profit 1,371 1,382 +10
（For reference）NOI 2,421 2,426 +5
（JPY） （A） （B） （B）－（A）
DPU (incl. surplus cash
2,504 2,522 +18
distributions)
DPU (excl. surplus
2,243 2,261 +18
cash distributions)
Surplus cash
261 261 －
distributions per unit
112. SLR’s growth strategy 12
SLR’s Investment Policy
Invest primarily in logistics properties located close to consumption areas
Target Investment Ratio by Property Type (on acquisition price basis) Target Investment Ratio by Area (on acquisition price basis)
Logistics Properties Industrial Properties Kanto and Kansai Areas Other Areas
80% or more 20% or less 70% or more 30% or less
Investment ratio Investment ratio Investment ratio by
by property type by area building age
（on acquisition price basis） (on acquisition price basis) （Logistics Properties, on acquisition price basis）
Industrial More than 5
Properties Kansai Area years
7.0% 1.3%
32.6
31.0% 3 years or
%
less
67.4 3 to 5 years
% 67.7%
93.0 Logistics
% Properties Kanto Area
Logistics Properties located close to Consumption Areas
Logistics properties with good access to consumption areas, production sites and transportation infrastructure,
which is advantageous in securing labor force
Metropolitan Area Delivery
Primarily located within the “last mile” of large consumption areas in the Kanto and Kansai areas
Located close to residential areas, which prompts rapid delivery, enhancement of delivery efficiency, and
reduction of environmental burden
⇒ SLR strives to create employment opportunities around its logistics properties by taking advantage of their
convenient locations, in doing so contributing to the local communities where the properties are located.
Utilization of the asset manager’s own network
⇒ Acquire properties from third parties that complement the portfolio, in addition to the SOSiLA Series
13 properties developed by Sumitomo Corp.Pipeline Properties Developed by Sumitomo Corp.①
Track record and plan of logistics properties development by the sponsor,
Sumitomo Corp. (cumulative gross floor area developed or under development)
11 properties,
553,680m2
Logistics Properties developed by Sumitomo Corp.
(properties owned by SLR）
7 properties,
354,207m2
Logistics Properties developed by Sumitomo Corp.
(excluding SLR's properties）
(Tentative)
SOSiLA
Properties subject to preferential negotiation rights of SLR Kashiwa
(Expected)
11 properties,
484,706m2 (Tentative)
SOSiLA
SOSiLA
Itabashi
Chuo Rinkan
Remarks
Logistics Properties developed by Sumitomo Corp.
(properties owned by SLR） SOSiLA
Osaka (Tentative)
Logistics Properties developed by Sumitomo Corp. SOSiLA
(excluding SLR's properties） Yashio
SLR’s Logistics Properties
(Tentative)
SOSiLA
SOSiLA
Kawagoe
Amagasaki
SOSiLA
NishiyodogawaⅡ SOSiLA Cumulative
Ebina developments of
SOSiLA SOSiLA
logistics properties
NishiyodogawaⅠ Kasukabe
SOSiLA by Sumitomo Corp.
SOSiLA Sagamihara (planned)
Yokohama Kohoku
16 properties
SOSiLA Narashino 907,887m2
Akanehama III
SGL Akanehama
Logistics CenterⅠ・Ⅱ
2006 2007 2016 2017 2018 2019 2020 2021 2022～ （Completion Year）
(planned) (planned)
14Pipeline Properties Developed by Sumitomo Corp.②
Aim to build a solid portfolio by acquiring stable operating properties developed by the sponsor
Logistics properties developed by Sumitomo Corp. Among 11 properties,
(Excl. SLR's current properties and anticipated acquisitions) Expected Properties subject to preferential negotiation rights
11 properties, 553,680m2 11 properties, 484,706m2
Completed Under Development / Planned
Preferential Preferential Preferential Preferential Preferential Preferential
Negotiation Rights Negotiation Rights Negotiation Rights Negotiation Rights Negotiation Rights Negotiation Rights
SOSiLA (Tentative)
SOSiLA SOSiLA SOSiLA (Tentative)
Name Yokohama Name Name Name Name SOSiLA Name
Ebina Itabashi Osaka SOSiLA Yashio
Kohoku Amagasaki
Yokohama City, Ebina City, Itabashi-ku, Osaka City, Amagasaki City, Yashio City,
Location Location Location Location Location Location
Kanagawa Kanagawa Tokyo Osaka Hyogo Saitama
Construction Construction Construction Construction Construction Jul. 2021 Construction Jan. 2022
Date
Sep. 2017 Feb. 2020 Mar. 2021 May 2021 Date (planned) Date (planned)
Date Date Date
83,782m2 71,964m2 Gross Floor 45,264m2 Gross Floor 34,715m2
Gross Floor Gross Floor Gross Floor Gross Floor 99,945m2
Area （16,756m2） Area 15,264m2 （30,970m2） Area (planned) Area (planned)
（27,346m2） Area Area
Preferential Preferential Preferential Preferential Preferential
Negotiation Rights Negotiation Rights Negotiation Rights Negotiation Rights Negotiation Rights
SGL SGL SOSiLA (Tentative) (Tentative)
Akanehama Akanehama Narashino Name SOSiLA Name SOSiLA
Name Name Name Chuo Rinkan Kashiwa
Logistics Logistics Akanehama
Center I CenterⅡ III Yamato City, Kashiwa City,
Location Location
Narashino City, Narashino City, Narashino City, Kanagawa Chiba
Location Location Location
Chiba Chiba Chiba Aug. 2022
Construction Construction May 2023
Construction Construction Construction Date (planned) Date (planned)
Date
May 2006 Mar. 2007 Sep. 2016
Date Date
Gross Floor 114,476m2 Gross Floor 75,415m2
Gross Floor Gross Floor Gross Floor Area
Area
34,649m2 51,246m2 38,604m2 (planned) Area (planned)
Area Area
15New Brand “LiCS”
Strengthen the portfolio by acquiring properties through the asset manager’s
own network.
New brand: LiCS
Thetargets are logistics and industrial properties
acquired from outside sources.
SLR has created the LiCS brand to succeed the
business spirit of the SOSiLA Series focusing on
three concepts, connection with society, eco-
friendliness and sustainable growth and
consideration for people and the working
LiCS Hiratsuka LastMileCenter environment.
ー
Thepurpose is to diversify and enhance the
portfolio by acquiring properties that complement
the SOSiLA Series.
LiCSHiratsuka LastMileCenter is the first property
of the LiCS Series.
SLRwill strengthen its efforts to acquire
properties from third parties utilizing the
16 asset manager’s own network.Long-Term and Stable Lease Contracts
Stable asset management utilizing the leasing capabilities of sponsor group
Short-term
（less than 5 years）
7.0%
Short-term Long-term
（less than 5 years） （10 years or more）
Average Average 27.3%
Lease Term 39.0% Remaining
Mid-term 34.6% （Logistics Properties, Lease Term
（5 years or more, annual rent basis） 58.4% （Logistics Properties,
less than 10 years） 9.8 years Long-term
annual rent basis）
（10 years or more） 7.0 years
33.7% Mid-term
（5 years or more,
less than 10 years）
Spreading out expiration dates of lease contracts（Logistics Properties, annual rent basis）
Mid-term
Short-term Long-term
20.0% 短期（5年未満）
（less than 5 years）
（5 years or more,
（10 years or more）
less than 10 years）
39.0%
39.0% 33.7%
27.3%
15.0% 13.3% 13.0%
11.4% 11.8%
9.1%
10.0% 8.2%
6.3% 6.4% 6.6%
3.9%
5.0% 3.4% 2.9%
0.9% 1.4% 1.2%
0%
第4期
4th 第5期
5th 第6期
6th 第7期
7th 第8期
8th 第9期
9th 第10期
10th 第11期
11th 第16期
16th 第17期
17th 第18期
18th 第19期
19th 第20期
20th 第21期
21st 22th 第23期
23rd 第24期
24th 第25期
25th 第26期
26th 第32期
32th 第41期
41st
F.P.
（21/11期） F.P.
（22/5期） F.P.
（22/11期） F.P. （23/11期）
（23/5期） F.P. F.P. （24/11期）
（24/5期） F.P. F.P.
（25/5期） （27/11期）
F.P. （28/5期）
F.P. （28/11期）
F.P. （29/5期）
F.P. （29/11期）
F.P. （30/5期）
F.P. F.P. F.P. （31/11期）
（31/5期） F.P. （32/5期） F.P. （35/11期）
F.P. （32/11期） F.P. （40/5期）
F.P.
（Nov. 2021） （May 2022） （Nov. 2022） （May 2023） （Nov. 2023） （May 2024） （Nov. 2024） （May 2025） （Nov. 2027） （May 2028） （Nov. 2028） （May 2029） （Nov. 2029） （May 2030） （Nov. 2030） （May 2031） （Nov. 2031） （May 2032） （Nov. 2032） （Nov. 2035）（May 2040）
17Internal Growth Leveraging Sumitomo Corp.’s Network
Lease contract
Logistics operation
Lease contract 3PL consignment contract Cargo owner
operator
Able to reach out directly to the 3PL
operator and the cargo owner
so that they move in as a tenant in either
type of contract
Make maximum use of the Sumitomo Corp. Group’s
broad customer network
Achieved rent increase of 5.2% through lease renewals with
tenants at SOSiLA Nishiyodogawa I and SOSiLA Nishiyodogawa II
18Enhancement of Stability and Portfolio Diversification
along with Asset Size Expansion
Portfolio property Ratio of top 5 Tenant composition
composition tenants (Logistics Properties
（acquisition price basis） （annual rent basis） leased area basis)
SOSiLA Yokohama Kohoku
(quasi-co-ownership interest of 80%)
Food
食品
SOSiLA西淀川Ⅰ
SOSiLA Nishiyodogawa I 1.2%
3.2%
飲料
Beverages
SOSiLA Ebina 3.8%
SOSiLA海老名 1.1%
(quasi-co-ownership interest of 62%) 0.6% 日用品
Daily Goods
4.1% 0.6% 6.8%
SOSiLA相模原
SOSiLA Sagamihara 3.2%
22.7% 宅配便
Delivery
24.6%
SOSiLA春日部
SOSiLA Kasukabe
8.3% 9.5% General
雑貨
SOSiLA Nishiyodogawa
Goods
SOSiLA西淀川Ⅱ
II Precision
精密機器
10.2% Machinery
SOSiLA川越
SOSiLA Kawagoe 10.5%
Precious
貴金属
21.7% Metals
Nanko Boarding Yard
南港乗下船ヤード（土地）
(Land)
17.3% Medical
医療用機器
12.7% Equipment
Hokko Oil Tank
北港油槽所（底地） 20.3%
3.0% Raw
(Land with leasehold interest)
14.6% 原材料・部材
Materials
LiCS平塚ラストマイルセンター
LiCS Hiratsuka LastMileCenter 家具
Furniture
その他
Others
(End of 3rd (End of 3rd
(End of 2nd Fiscal Period) (End of 2nd Fiscal Period)
Fiscal Period) Fiscal Period)
Ratio of top 5
Ratio of top 5 Ratio of top 5
Ratio of top 5
properties properties tenants tenants
90.8% 79.4% 62.4% 55.6%
19Financing Status
Strategically utilizing LTV while maintaining financial stability
LTV Changes in key financial indicators
Long-term Debt Ratio Fixed Interest Ratio
Controlling LTV between 35-45%
50.0% during normal operation As of the end As of the end As of the end As of the end
of Nov. 2020 of May 2021 of Nov. 2020 of May 2021
45.0% Average LTV of J-REITs：44.3% 92.9% 91.2% 92.9% 91.2%
Average Borrowing Term Average Remaining Borrowing Term
40.0% As of the end As of the end As of the end As of the end
of Nov. 2020 of May 2021 of Nov. 2020 of May 2021
35.0% 37.9％ 37.0％ 6.0 years 6.1 years 5.0 years 4.9 years
34.9％
Average Borrowing Cost Debt Capacity (up to LTV 45%)
30.0%
0.0％ Fiscal Period Fiscal Period Fiscal Period As of the end As of the end As of the end As of the end
第2期末時点(実績) 第3期末時点(実績) 第4期末時点(予想)
ended Nov. 2020 ended May 2021 ending Nov. 2021 of Nov. 2020 of May 2021 of Nov. 2020 of May 2021
Approx. Approx.
0.55% 0.52% JPY15.5 bn JPY15.5 bn
* After consumption tax loans
Diversification of loan repayment period Lender formation（as of the end of May 2021, loan amount basis）
(as of the end of May 2021）
（JPY bn） Consumption tax loans
10 Short-term borrowings 3.4%
3.4%
Long-term borrowings 9.10 株式会社三井住友銀行
Sumitomo Mitsui Banking Corporation
8 8.00
6.9% Sumitomo Mitsui Trust Bank
三井住友信託銀行株式会社
6.80
6.9% 33.7%
6 Mizuho Bank
株式会社みずほ銀行
4.85 4.85
株式会社三菱ＵＦＪ銀行
MUFG Bank
4 3.50
1.5 22.9% 株式会社福岡銀行
The Bank of Fukuoka
2
Development
株式会社日本政策投資銀行Bank of Japan
2.1 22.9%
0 みずほ信託銀行株式会社
Mizuho Trust & Banking
3rd 44th
th 5th 6th 7th 8th 9 1313th
th 10th 11th 12th
9th th 14
14thth15th 16th 17 18
17thth18th th 20th 21
19th 21stst （F.P.）
22nd 23rd
(Nov. 2021) (May 2024) (May 2026) (Nov. 2026) (May 2028) (Nov. 2028) (May 2030)
20Improvement of Rating Outlook and
Shelf Registration of Investment Corporation Bonds
Improvement of rating outlook to “A＋ Positive”
• Rating outlook changed from “A+ Stable” to “A+ Positive” on Feb. 18, 2021 after the annual review.
Comment regarding financial aspect
(4) As for the total asset-based LTV, the Corporation expects that it should be controlled at a reasonable level of around 35% and 45%
under the normal operating environment. As of the end of the fiscal period ended November 2020, it was 34.9%, which was controlled
within the range the Corporation expects. The Corporation’s lender formation mainly consist of mega banks in Japan. The Corporation
procures fund mainly for long-term with fixed interest rate and without securing the entire amount by collateral or guarantee, and
repayment dates are also diversified; therefore, there are no particular concerns over its financing.
Excerpt from News Release on Feb. 18, 2021 of Japan Credit Rating Agency, Ltd.
The next annual review will be conducted around Feb. 2022.
Shelf registration of investment corporation bonds
• Filed shelf registration, to enable flexible issuance of investment corporation bonds
Consider the issuance of bonds at the right time, bearing in mind the financial environment, rating, the
timing of refinancing and the utilization of the green finance framework
Overview of shelf registration statement Green finance framework
Maximum amount of issue JPY 50,000 million Rating agency Japan Credit Rating Agency, Ltd. (JCR)
Overall evaluation Green 1 (F) (Highest evaluation)
Subject to shelf
Investment corporation bonds
registration Greenness evaluation
g1 (F)
Filing date Jun. 15, 2021 (use of proceeds)
Management, operation,
m1 (F)
Planned period of issuance 2 years (from Jun. 23, 2021 to Jun. 22, 2023) transparency evaluation
Funds for acquiring specified assets, repaying
borrowings, redeeming investment corporation Ratio of green eligible
Use of proceeds bonds, refunding security deposits and guarantee assets in portfolio
money, paying expenses for renovation, repair work, 91.9%
etc. and working capital, etc.
21Market Cap. and Credit Rating of Listed J-REIT &
Status of Inclusion in Major Indexes（as of May 31, 2021）
Outlook of Long-term Issuer Rating
A + Positive
（JPY bn）
14,000
1,400
A + Stable →
1,200
12,000
1,000
10,000
SLR’s Credit Rating
800
8,000 SLR’s Market Cap.
（as of the date of
as of May 31, 2021
this material）
6,000
600 JPY 88.7 billion JCR: A+ (Positive)
4,000
400
SLR’s market cap.
as of May 31, 2021
2,000
200
0
Logistics
REIT
FTSE EPRA
Nareit
Credit
Rating AA
or higher
22Changes in the Investment Unit Prices of Logistics REITs
(from Jan. to Jul. 2021)
After the public offering in Dec. 2020, the investment unit price of SLR
remained firm.
130%
2979 : 126.2%
125%
TSE REIT Index:
118.1%
120%
3487 : 121.4%
3493 : 119.5%
115% 3281 : 117.5%
3481 : 115.8%
3471 : 113.6%
110% 3466 : 112.5%
3249 : 112.0%
3283 : 110.1%
105% 8967 : 109.2%
100%
95%
90%
85%
2021/1/4 2021/2/2 2021/3/4 2021/4/2 2021/5/2 2021/5/31 2021/6/30
SOSiLA Japan Logistics Industrial & Nippon Prologis LaSalle
2979 8967 3249 Infrastructure Fund 3281 ＧＬＰ 3283 3466
Logistics REIT Fund REIT LOGIPORT REIT
Mitsui Fudosan Mitsubishi Estate CRE Logistics ITOCHU Advance
3471 3481 3487 3493 - TSE REIT Index
Logistics Park Logistics REIT REIT Logistics
233. ESG Initiatives 24
ESG Initiatives①
E (Environment) initiatives
External certification Setting of Initiatives at
environmental targets properties owned
Properties with
Aim to achieve the following goals Roof greening
Properties with by the end of March 2025
Certification for CASBEE
BELS★★★★★ Reduction Target for Energy
for Real Estate Rank A
Consumption
- SLR aims to reduce energy
SOSiLA Yokohama Kohoku consumption by an annual
SOSiLA Yokohama Kohoku
SOSiLA Sagamihara average rate of 1% on a per-unit
SOSiLA Sagamihara basis
SOSiLA Kasukabe
SOSiLA Kasukabe
SOSiLA Kawagoe
SOSiLA Kawagoe Reduction Target for Greenhouse
SOSiLA Nishiyodogawa I
SOSiLA Nishiyodogawa I Gas Emissions
SOSiLA Ebina - SLR aims to reduce CO2
SOSiLA Nishiyodogawa II Solar panels
SOSiLA Nishiyodogawa II emissions by an annual average
rate of 1% on a per-unit basis
Achievement of Environmental
Certifications
- SLR aims to increase the rate of
certified properties to 70% or
more on a gross floor basis
LED lighting
Purchase of renewable
energy certificates
Purchase of 5,943 kWh of biomass-
generated electricity
25ESG Initiatives②
S (Social) initiatives
Asset manager Improvement of tenant Contribution to
initiatives satisfaction local communities
Full enforcement of measures Installation of a crew lounge and Provision of a relaxation space for the
addressing COVID-19 vending machines local community
Flexible working hour and remote Open entrance (Pocket park, SOSiLA Ebina)
working systems Implementation of a tenant satisfaction Proactive cooperation in local disaster
Establishment a refresh room survey preparedness
Implementation of an employee BCP measures, such as the installation Central driveway with consideration
awareness survey of emergency generators for noise impacting nearby residents,
Support for employee’s acquisition of etc.
qualifications, training, etc.
Contribute to the realization of an enriched society by succeeding the business spirit
focusing on three concepts: a connection with society (Sociability), eco-friendliness and
sustainable growth (Sustainability), and consideration for people and the working
26 environment (Individuality)ESG Initiatives③
G (Governance) initiatives Decision-making flow
Introduction of management fee Original proposal by the J-REIT Business
Instruction of cancellation or
Department
structure linked to interests of
unitholders Approval by the Head of Compliance
content change
AM Fee I AUM ×0.2% (maximum)
Deliberation and approval by the Compliance
& Risk Committee
AM Fee II NOI ×5.0% (maximum)
Deliberation and approval by the J-REIT
Investment Committee
Profit before tax (before AM Fee) ×
EPU (Profit before tax (before AM Fee)
AM Fee III Deliberation and approval by the SLR Board
Per Investment Unit) ×0.002%
of Directors
(maximum)
Report to the Board of Directors and SLR’s
Board of Directors
Introduction of an employee Rotation rules
investment unit ownership program (Logistics Properties & Industrial Properties)
1 SLR
Putting the asset manager on the same
boat with REIT unitholders
SC Realty Private Investment Corp.
• Align the interests of SLR unitholders with 2 (Private REIT)
the employees of the asset manager
3 Private Funds and others
274. Appendix
Sumitomo Corp.‘s Real Estate Business
SOSiLA, Logistics Property Developed by Sumitomo Corp.
Real Estate Market of Logistics Properties
Consumer Market / Issues for Tenants in Logistics Industry
Portfolio Summary
Portfolio Overview
Property Details
Overview of Year-end Appraisal Value
Revenue and Expenditures of Individual Properties
Profit and Loss Statement and Balance Sheet
Overview of Interest-bearing Debt
Status of Unitholders
Changes in SRM’s Balance of Assets under Management and
Composition of Assets under Management
SRM’s ESG Policy
SRM’s Structure for Implementing ESG Initiatives
Overview of Sumitomo Corp. Group
28Sumitomo Corp.‘s Real Estate Business①
Office Building Residence Retail property Logistics property
物流不動産
• Developing office buildings • Selling condominiums mainly • Developing and revitalizing • Developing logistics properties
mainly in the Kanda area, to the upper-middle class properties for retail properties
• Completion of projects
enhancing value of the
• Taking part in joint • Operates, manages and Total floor area (completed):
surrounding area
development and urban provides consulting service for Approx. 0.54million m2
• Launching develop-and-sell redevelopment projects retail properties (11 properties)
projects (as of Mar. 31, 2021)
• Total units sold: • Land area owned and
• Land area owned and Approx. 59 thousand units managed: • Established Logistics Properties
managed: (as of Mar. 31, 2021) Approx. 1.80 million m2 Business Dept. in Oct. 2019
Approx. 1.6 million m2 (61 properties)
(83 buildings) (as of Mar. 31, 2021)
(as of Mar. 31, 2021)
The asset size and AUM of the Sumitomo Corp. Group reached
JPY 1.2 trillion
29Sumitomo Corp.‘s Real Estate Business②
Sumitomo Corp. Group’s policies on logistics properties operation
Sponsor Support Agreement
Grant of Preferential Negotiation Rights for
Ownership
the properties owned by the sponsor
SOSiLA Logistics
Preferential provision of information on sales of REIT, Inc.
existing logistics properties owned by the
third parties
Provision of warehousing functions for Provision of properties & Asset
future property acquisitions leasing services Management
Expertise
Right to request Sumitomo Corp. to acquire
SLR's properties for redevelopment
Right to request Sumitomo Corp. to enter into
fixed-rent master lease agreement
Property Asset
Logistics Management Service Agreement Management
Development
Entrustment of leasing service and tenant
management operation related to SLR’s
properties to Sumitomo Corp., who is capable of
leasing with a wide range of customer network
Mutual
Cooperation
30Invest in the SOSiLA Series Developed by Sumitomo Corp.
SOSiLA, high quality logistics facilities in terms of Locations, Facilities and Support
Provision of high-quality logistics facilities
utilizing Sumitomo Corp. group’s expertise
Location
Excellent locations close to
consumption areas to deal
with the issues of logistics
facilities
Facilities Support
Versatile facilities Provision of strong
of advanced design support to tenants by
the Sumitomo Corp.
Group
31SOSiLA, Logistics Property Developed by Sumitomo Corp.①
Sociability, Sustainability, and Individuality for Logistic Aspect
Efficiency ～making logistics more efficient～
Responding to the changing 5.5m height of ceiling
Sociability needs for distribution Expanding warehouse space and delivery capacity to
Responding to distribution processing increase work efficiency
〜Connecting with and shorter delivery times and
Society～ Sufficient number of berths and parking considering
providing space available for automated characteristics of locations
logistics machinery
Ecology ～considerations for the environment～
Adopting highly-insulated sandwich panels
Adopting LED lighting
Achieving both eco-friendliness Implementing water-saving sanitary appliances
Sustainability
and economic growth Rated by Comprehensive Assessment System for
〜Eco-friendliness and Reducing CO2 emission and pursuing Built Environment Efficiency (CASBEE)
Sustainable Growth〜 growth strategies from ESG perspective Safety ～safety and BCP～
Adopting seismically isolated structure
Structured to withstand strong wind and torrential rain
Counter measures against tsunami, high-tide, liquefaction
Promoting work style reform
in logistics industry BCP including backup power secured in case of power outage
Individuality
Improving working facilities, taking the
〜Consideration for working environment for female
Amenity ～comfortable working environment～
People and the Working workers into consideration, and building Cafe lounges
Environment〜 a symbiotic relationship with local Establishing non-smoking area by setting up separated
communities smoking rooms
Consideration for accessibility
32SOSiLA, Logistics Property Developed by Sumitomo Corp.②
The SOSiLA Series adopt “location” strategy that can cover urban areas of high population density and is closely located to
consumption area.
Among the locations where logistics facilities can be built, the SOSiLA Series is located near urban area, which is competitive
in terms of both reducing transportation costs and securing labor force, and can accommodate frequent delivery
Location of SLR’s
Logistics Properties
Ken-O (acquisition price basis)
Expressway
Saitama
National
SOSiLA Kawagoe Route 16 Ibaraki
SOSiLA Kasukabe Ratio of densely
Inhabited Area
Tokyogaikan （仮称）SOSiLA柏
（Tentative)SOSiLA 100%
Expressway Kashiwa
100%
（仮称）SOSiLA八潮
(Tentative)
SOSiLA Yashio
SOSiLA Itabashi Location of other J-REITs’
Suburban
Chiba
Logistics Properties
Tokyo
Tokyo 23 wards （acquisition price basis）
SOSiLA Narashino Akanehama Ⅲ
31%
SOSiLA Sagamihara Kawasaki Population Density
(number of people/ km2)
SOSiLA 5km area of town
Yokohama Kohoku 69%
（Census 2015）
(Tentative)
SOSiLA Chuo Rinkan Yokohama
Population Density of
SOSiLA Ebina
3,000 people/k㎡ or more
（Located Municipality）
（Densely inhabited area）
Kanagawa Population Density of
less than 3,000 people/k㎡
（Located Municipality）
33Location of the SOSiLA Series and SLR’s Logistics Properties
Kanto Area
SOSiLA
LiCS平塚ﾗｽﾄﾏｲﾙｾﾝﾀｰ
5 Hiratsuka LastMileCenter SOSiLA Itabashi
Yokohama Kohoku
SLR’s logistics properties
as of the end of the 3rd F.P.
Logistics properties developed Saitama 3 Metropolitan
and/or owned by Sumitomo Corp. Inter-City Expressway
(Ken-O Expressway)
(Tentative)
Tohoku Expressway Joban Expressway
SOSiLA Sagamihara 6 6 SOSiLA
SOSiLA海老名
Ebina
SOSiLA Yashio
4 12
Tokyogaikan Expressway
National Route 16
10 SGL Akanehama (Tentative)
SOSiLA Kasukabe Logistics Center I・II SOSiLA Chuo Rinkan
Kan-Etsu Expressway
9
Chiba
SOSiLA Narashino
Tokyo SOSiLA Kawagoe Akanehama III
(Tentative)
SOSiLA Kashiwa
7 8
2
Kansai
関西エリアArea
SOSiLA Nanko Boarding
SOSiLA大阪
SOSiLA Osaka
1 1 Chugoku Expressway Nishiyodogawa I Yard (land)
11
Osaka
Hyogo
Kanagawa Meishin Expressway
Hanshin Expressway Route 3
Kobe Line 6
Tomei Expressway 6 Hanshin
Hokko Oil Tank (land
with leasehold interest)
SOSiLA
4 Nishiyodogawa II
(Tentative)
SOSiLA Amagasaki
6 1 4 Expressway Route 13
Higashiosaka Line
5
5 2 Kinki Expressway
3
34Hardware in the SOSiLA Series
Basic Features of the SOSiLA Series Gross Floor Area：10,000 m2 or more
Features：Column spacing of 10 m or more Roof Height of 5.5 m or more Floor Load of 1.5 t/m2 or more
Safety Ecology Efficiency Amenity
Ettus and BCP considerations for environment making logistics more efficient comfortable working environment
Insulation Panels Solar Panel
Vertical Conveyers
Ramp way
Metal sandwich panels Built-in green roof /
(highly insulated) solar panel system
standardized for outer walls
Installed freight elevators
Power Outlets and vertical carrier allowing
direct loading/unloading A Ramp way allowing
large truck’s direct access Emergency
to each floor from the 1st
Power Generator
to the 3rd floors
Increased number of
power outlets in case of
emergencies
Emergency Exit Truck Berth Cafe Lounge Emergency power
generator in case of
power outage
Emergency Exit on 2nd Sufficient height allowing Cafe lounge for
floor allowing easy access wing body truck to enter employees to relax
for firefighters without closing
LED Lighting CASBEE Rating Emergency Restroom Open space Consideration for Accessibility Private Boxes
Realization of energy- Qualification of environmental Manhole toilets in case of An open, wide entrance to Slopes made for Private Boxes set up in
saving by adopting LED performance of buildings water supply suspension create a comfortable working multipurpose toilet and female restrooms
Lighting environment entrance
35Software in the SOSiLA Series
Providing solutions for improving logistics efficiency by the sponsor group
Tenants moving into the SOSiLA Series
Increase in the SOSiLA Series
Enhancement of Development Opportunities
Tenants’ Logistics by Sumitomo Corp.
Efficiency AND
Tenants’ Consideration of
moving into other
Tenants’ further
SOSiLA Series
Investment into
SOSiLA Series
Providing Solutions for
Improving Logistics Efficiency
Participation into Tenants’
Stable Long-Term
supply chain design
Occupancy
Intensification of
Improvement of Tenants’
Relation with Tenants
Operation
36Example of Software in the SOSiLA Series①
Implementation of logistics efficiency solutions that contribute to contracting of long-term stable lease
SMS Message
(Reservation,
Remote control of Truck Berth)
Truck Reservation System “MOVO Berth” High-density Automatic Storage System
（SOSiLA Ebina offers certain functions without charge） “Magic Rack”
Tenants are able to obtain real-time （with implementation to adapt to changes
information regarding delivery status, supplier, in structure, compartments, etc.）
and destination Aisle for forklifts is not needed. Achieved
Truck berth reservation function to resolve improving storage efficiency compared to
waiting time issues and improve efficiency conventional pallet racks
Reduce the frequency of human-contact caused Reduced working time with product
by drivers going to reception automatic assortment
37Example of Software in the SOSiLA Series②
Introduction of solutions to improve logistics efficiency that contribute to the signing of stable,
long-term lease contracts
Providers Users
Information provision
Matching
Monetization of Access to space in
vacant space Information on the building
applications, etc.
Logistics Support Robot “CarriRo” SOUCO, an intra-building shared service,
developed by ZMP Inc. from SOUCO Inc.
(invested by Sumitomo Corp., our sponsor) A mechanism for sharing and effectively using
Successfully introduced at Sumitomo Corp. non-utilized leased floor space created by
Group’s logistics properties, and our tenants seasonal fluctuations, etc. among tenants
of SOSiLA Yokohama Kohoku Contribute to the stable operation of facilities
Introduced at SOSiLA Ebina
38Real Estate Market of Logistics Properties①
Greater Tokyo Area: Demand has continued to be firm since 2017, and the vacancy rate rose to 1.0%
in Q1 of 2021 as brisk demand in the previous year came to a pause but still remains low.
Kinki Area: The vacancy rate is expected to be stable at a low level due to continued firm demand.
The vacancy rate in Q1 of 2021 was 1.3% due to progress in the digestion of vacancies
in existing properties.
Greater Tokyo Area Market Kinki Area Market
＜Supply-Demand Balance mid-term forecast (mid-large property) ＞ ＜Supply-Demand Balance mid-term forecast (mid-large property) ＞
(m2) 新規供給（左軸）
New Supply (LHS) 新規需要（左軸）
New Demand (LHS) 空室率（右軸）
Vacancy (RHS) (m2) 新規供給（左軸）
New Supply (LHS) 新規需要（左軸）
New Demand (LHS) 空室率（右軸）
Vacancy (RHS) (%)
(%)
3,000,000
Forecast
5.0 1,500,000 Forecast 25
4.4%
4.1% 4.5
2,500,000 20
3.7% 4.0
3.3%
3.5 1,000,000
2,000,000 12.7%
3.0
15
1,500,000 1.9% 2.5 9.4%
2.0% 10
2.0
500,000 6.7%
1,000,000
1.0% 1.5
2.2% 3.5%
2.7% 2.5% 5
1.0
500,000 0.4% 0.4%
0.5
0 0
0 0.0
2014年
2014 2015年
2015 2016年
2016 2017年
2017 2018年
2018 2019年
2019 2020年
2020 2021年
2021
2014
2014年 2015
2015年 2016
2016年 2017
2017年 2018
2018年 2019
2019年 2020
2020年 2021
2021年
＜Rent Trend (Large multi-tenant property) ＞ ＜Rent Trend (Large multi-tenant property) ＞
(JPY/tsubo) (JPY/tsubo) Osaka
大阪府 兵庫県
Hyogo
Tokyo
東京都 Chiba
千葉県 Saitama
埼玉県 Kanagawa
神奈川県 5,000
6,000
5,000
3,500
4,000
0 0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021（年） 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021（年）
Q1 Q1
39Real Estate Market of Logistics Properties②
The advanced logistics properties comprise only 5.2% of the entire logistics properties in Japan.
The floor area of logistics properties’ construction has been gradually increasing in recent years.
Scarcity of Advanced Logistics Properties (as of Nov. 2020, area basis)
Advanced Logistics Properties
Advanced Logistics Properties Advanced Logistics Properties
8.1%
5.2% 10.3%
Conventional Properties Conventional Properties Conventional Properties
94.8% 89.7% 91.9%
Japan Greater Tokyo Area Kinki Area
Historical Long-term Trend of Logistics Property Construction Start
（thou. m2）
20,000
15,000
10,000
5,000
0
1959 1970 1980 1990 2000 2010 2020 （F.Y.）
40Consumer Market / Issues for Tenants in Logistics Industry
The Expanding Consumer Market Increasing Demand for Logistics
Properties and Prominent Issues
Transition of Retail Industry Market Size Issues that tenants in Logistics Industry are facing
（JPY tn）
150 1 The high proportion of transportation cost (largest cost)
Logistics cost structure of all industries by Logistics feature (F.Y.2019)
145 145
143 Transportation Cost Storage Costs Others
141 141
140 58.2% 15.8% 26.0%
139
140 138
136 0% 20% 40% 60% 80% 100%
135
The increase in frequency of delivery due to demand for
133 2 courier service
Number of times of delivery per commercial vehicle (incl. truck) in one day
130 Standard Size Cars Compact Size Cars
（times）
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 4.0
3.37
（F.Y.） 3.5 3.09 3.16 3.24
3.0 2.75
2.41 2.44 2.51
2.5
Transition of E-Commerce Industry Market Size 2.0 2.51 2.54 2.51 2.49 2.53
2.28 2.08
2.01
1.5
（JPY tn） 2012 2013 2014 2015 2016 2017 2018 2019（F.Y.）
30
27.8 Securing workforce for warehouse operations and
Actual or
Forecast 26.3 3 transportation
Estimate 24.9
25 23.4 Questionnaire concerning logistic strategies (F.Y. 2019)
22.1
Employment
Employ ment of warehouse workers
of warehouse…
20.8 Trucks preparation and employment of drivers
19.5 Trucks and employment of…
20 17.6 18.1 Complication
Complication of warehouse
of warehouse…works
Aging of warehouse
Aging of warehouse（buildings） (buildings)
Sophistication in technology in
Sophistication (robots, AI, etc.)
technology …
Smaller parcel and higherparcel
Smaller frequency
andinhigher…
delivery
15 Implementation / review ofImplementation
Material Handling and equipment
/ review of…
Outsourcing
Outsourcing
Aging of equipment
Aging of equipment
Increase in in
Increase rent
rent
10 ImplementationImplementation / review
/ review of management of…
system
2017 2018 2019 2020 2021 2022 2023 2024 2025 Others
others
（F.Y.） 0 50 100 150 200
（number of answers）
41Portfolio Summary (as of the end of May 2021)
Acquisition Appraisal Appraisal Gross Floor Building Occupancy
Property Property Number of
Property Name Price Value NOI yield Area Age Rate
Type Number Tenants
(JPY mn) (JPY mn) （%） （m2） （year） （％）
SOSiLA Yokohama Kohoku 83,782.32
L-01 24,840 27,360 4.6 3.6 100.0 6
(quasi-co-ownership interest of 80%) (67,025.85)
L-02 SOSiLA Sagamihara 12,820 14,100 4.9 53,412.93 3.0 100.0 1
L-03 SOSiLA Kasukabe 10,300 11,000 5.0 48,420.86 2.2 100.0 3
L-04 SOSiLA Kawagoe 4,124 4,870 5.6 21,818.73 2.3 100.0 2
Logistics
Properties
L-05 SOSiLA Nishiyodogawa I 17,470 19,300 5.3 71,416.86 4.9 100.0 2
L-06 LiCS Hiratsuka LastMileCenter 1,200 1,230 4.8 1,628.08 18.0 100.0 1
SOSiLA Ebina 71,963.60
L-07 14,694 14,900 4.4 1.2 100.0 5
(quasi-co-ownership interest of 62%) (44,617.43)
L-08 SOSiLA Nishiyodogawa II 8,404 8,710 5.1 47,494.24 4.1 100.0 4
Hokko Oil Tank
I-01 (Land with leasehold interest)
3,210 3,290 5.2 76,255.99 - 100.0 1
Industrial
Properties
Nanko Boarding Yard
I-02 (Land)
3,800 3,860 5.0 56,237.09 - 100.0 1
399,937.62
Total (Average) 100,862 108,620 4.9 3.4 100.0 26
(355,834.98)
42Property L-01 Logistics
Kanto Area
Tomei Daisan Keihin Yokohama Within 2km Within 5km
Property Expressway Road North Route from station from IC
（SOSiLA Yokohama Kohoku Emergency Power CASBEE BELS
Ramp way 2-side Berth Cafe Lounge LED
(quasi co ownership interest of 80%)) Generator
A Rating ★★★★★
Location Features of Property
The property is located within 20km of central Tokyo, at approximately 4.9km from A 4-story building of SOSiLA Series. Ramp way access is available from the 1st to
“Yokohama-Aoba” IC of the Tomei Expressway, and can access to National Route 246, which the 3rd floors.
runs parallel to the Tomei Expressway, in about the same distance, “Kohoku” IC on Daisan In addition to the truck berths facing the central driveway on the 1st through 3rd
Keihin Road which also leads to the metropolitan area, “Shin-Yokohama” IC on Yokohama
North Route. Furthermore, it is close to National Route 16 , which circles the Tokyo
floors, truck berths are also installed on the east side section, which is a 2-side
metropolitan area, and can respond to high-frequent delivery to the neighborhood and city berth, making it usable as a transit-type distribution center as well. Besides,
center, as well as wide-area delivery to the metropolitan area. 3rd/4th floors is a maisonette type which can accommodate tenants’ various
storage needs.
In recent years, securing labor force has been a issue for tenants’ shippers and 3PL shippers.
As this property is located within walking distance from Nakayama Station of JR Yokohama Location Yokohama City, Kanagawa
Line and Yokohama Municipal Subway Green Line, it makes it advantageous in securing Construction Date September 21, 2017
employment.
Acquisition Price JPY 24,840 million
Appraisal Value JPY 27,360 million
Appraisal NOI Yield 4.6%
83,782.32m2
Gross Floor Area
（67,025.85㎡）
Land Area 39,041.22m2
Reinforced Concrete, RC
Structure aluminum-zinc alloy coated
steel roofing/4-story
Constructor Maeda Corporation
Number of
6
Tenants
Major Tenant AEON Global SCM Co., Ltd.
43Logistics Ken-O Within 5km
Property L-02 Property
Kanto Area
Expressway from IC
Route 16
（SOSiLA Sagamihara） Cafe Lounge LED
Emergency Power
Generator
CASBEE
A Rating
BELS
★★★★★
Location Features of Property
The property is located within 40km of central Tokyo and about 3.3km from A 4-story logistics facility of SOSiLA Series. It has a slope that provides direct
“Sagamihara Aikawa” IC on the Ken-o Expressway via National Route 129. The access to the 3rd floor. Truck berths are located on the north side of the 1st and
Ken-o Expressway connects to the Tomei Expressway and the Chuo Expressway, 3rd floors. The 1st/2nd floors and the 3rd/4th floors can be used as transit
which in turn connect central Tokyo and the Chukyo and Kinki areas. This logistics center or storage logistics center using its maisonette structures.
location allows not only transportation to central Tokyo but also nationwide
transportation using highways connecting Tokyo, Nagoya and Osaka. Location Sagamihara City, Kanagawa
Construction Date May 11, 2018
Acquisition Price JPY 12,820 million
Appraisal Value JPY 14,100 million
梁下有効：5.5m（一部除く）
床耐荷重：1.5t/㎡
最高高さ Appraisal NOI Yield 4.9%
倉庫
Gross Floor Area 53,412.93m2
最高高さ
=28,550
倉庫 バース
車路
倉庫
28,576.44m2
倉庫 倉庫
倉庫 倉庫 バース
Land Area
RC aluminum-zinc alloy
Structure
coated steel roofing/4-story
Constructor Okumura Corporation
Number of Tenants 1
Major Tenant Sun City Building
44Logistics
Property L-03 Property
Kanto Area Route 16
（SOSiLA Kasukabe） Slope-Type 2-side Berth Cafe Lounge LED
Emergency Power
Generator
CASBEE
A Rating
BELS
★★★★★
Location Features of Property
The property is located within 40km of central Tokyo and has good access to A 4-story logistics facility of the SOSiLA Series. It has a slope that provides direct
National Route 4, which connects central Tokyo and the Tohoku area via Tochigi access to the 3rd floor. Truck berths are located on the east and the west side of
Prefecture, and National Route 16, which circles the Tokyo metropolitan area. the 1st floor, and on the west side of the 3rd floor. The 1st/2nd floors and the
The Property can thus be used for delivery to neighboring areas and wider areas 3rd/4th floors can be used as transit logistics center or storage logistics center
as well as being a gateway to the Tokyo metropolitan area for manufacturers using its maisonette structures.
with production sites in the northern Kanto area. Buses run frequently from
“Kasukabe” and “Minami Sakurai” stations on the Tobu Railway to nearby AEON Location Kasube City, Saitama
MALL Kasukabe, which enables tenants to secure labor force from a wide area. Construction Date March 8, 2019
Acquisition Price JPY 10,300 million
Appraisal Value JPY 11,000 million
梁下有効：5.5m（一部除く）
Appraisal NOI Yield 5.0%
床耐荷重：1.5t/㎡
最高高さ
最高高さ=29,365
倉庫 倉庫
車路
トラック
バース
倉庫 倉庫 倉庫
Gross Floor Area 48,420.86m2
倉庫 倉庫 倉庫 倉庫 倉庫
車路
トラック
バース
倉庫 倉庫 トラック
バース Land Area 24,394.93m2
Reinforced Concrete,
RC aluminum-zinc alloy
Structure
coated steel roofing/
4-story
Constructor Maeda Corporation
Number of Tenants 3
Major Tenant Yamato Transport Co., Ltd.
45Logistics Ken-O Kanetsu
Kanto Area Route 16
Property L-04 Property Expressway Expressway
（SOSiLA Kawagoe） Box-Type Cafe Lounge LED
Emergency Power
Generator
CASBEE
A Rating
BELS
★★★★★
Location Features of Property
The property is located within 35km of central Tokyo. It is about 8.8km from the A 4-story logistics facility (the warehouse is a 3-story building) of the SOSiLA
“Kawagoe” IC on the Kanetsu Expressway, which connects central Tokyo and Series. Truck berths are located on the north and the south side of the 1st floor.
Niigata, and about 6.7km from the “Kawajima” IC on the Ken-o Expressway via The 1st/2nd floors and the 1st/4th floors can be used as transit logistics center or
National Route 254. Its location enables rapid delivery to central Tokyo as well as storage logistics center using its maisonette structures.
the greater Tokyo area, including the northern Kanto area, and the Koshinetsu
Location Kawagoe City, Saitama
area. Buses operated by the industrial complex’s cooperative association run from
“Kawagoe” Station on the Tobu Tojo Line and the JR “Kawagoe” Line and “Hon- Construction Date January 18, 2019
Kawagoe” Station on the Seibu Shinjuku Line. Therefore there is no problem in
securing labor force. Acquisition Price JPY 4,124 million
Appraisal Value JPY 4,870 million
Appraisal NOI
5.6%
最高高さ
梁下有効：1F：5.5m、2・4F：6.5m（一部除く）
床耐荷重：1.8t/㎡（1F）1.5t/㎡（2～4F） Yield
最高高さ
倉庫 倉庫
Gross Floor Area 21,818.73m2
=23,654
Xxxxx
倉庫 倉庫
Land Area 11,924.85m2
5,330
トラック 倉庫 倉庫 トラック
バース バース
Reinforced Concrete,
RC aluminum-zinc alloy
Structure
coated steel roofing/
4-story
Nishimatsu Construction
Constructor
Co., Ltd.
Number of
2
Tenants
46 Major Tenant Hamakyorex Co., Ltd.Hanshin Hanshin
Logistics Within 5km
Property L-05 Property
Kansai Area Expressway
Wangan Line
Expressway
Kobe Line from IC
（SOSiLA Nishiyodogawa I） Slope-Type LED
Emergency Power
Generator
CASBEE
A Rating
BELS
★★★★★
Location Features of Property
The property is located in Nishiyodogawa-ku, Osaka, which is within 10 km of A 4-story logistics facility of the SOSiLA Series. It has a slope that provides direct
central Osaka. It is about 0.6km from “Nakashima” IC on the Hanshin access to the 3rd floor. Truck berths are located on the both sides of the 1st floor
Expressway Route 5 Bayshore Line and about 6.6km from “Amagasaki” IC on the and on the northwest side on the 3rd floor. The 1st/2nd floors and the 3rd/4th
Meishin Expressway. The property can therefore respond to high-frequent floors can be used as transit logistics center or storage logistics center using its
delivery to the Hanshin area as well as transportation to a wider area from maisonette structures.
Chukyo to Chugoku. Location Osaka City, Osaka
Construction Date June 30, 2016
Acquisition Price JPY 17,470 million
Appraisal Value JPY 19,300 million
Appraisal NOI
5.3%
Yield
Gross Floor Area 71,416.86m2
Land Area 38,024.00m2
Steel-framed,
Structure alloy plated steel,
shingle roofing/4-story
Daiwa House Industry Co.,
Constructor Ltd.
Hazama Ando Corporation
Number of
2
Tenants
47 Major Tenant Konoike Transport Co., Ltd.Logistics Ken-O Odawara- Within 5km
Property L-06 Property
Kanto Area
Expressway Atsugi Road from IC
（LiCS Hiratsuka LastMileCenter） Frequent & small
package delivery 2-side Berth
Refrigeration &
Freezing equipment
Features of Property / Location
Located in the central part of Kanagawa prefecture, within about 60km
from central Tokyo. Located at Hiratsuka City, which is one of the core
developing cities in Kanagawa, and where industrial facilities, such as
factories, and retail facilities, such as shopping malls, are concentrated
around National Highway 129. Approximately 3.6km from Isehara IC
on the Odawara-Atsugi Road, and is accessible to the Ken-O
Expressway.
Hiratsuka City has a population of about 250,000 and 113,000
households. The property is nearby a densely populated residential
area. In addition, there are multiple large-scale retail facilities around
the property, which makes it highly convenient for handling packages
and 24-hour operation. Facing a wide road, enjoying a good location of
“the last mile” for frequent delivery of small packages.
The facility has been used as a delivery point by the tenant for a long
time since its completion. A stable operation can be expected, and is
equipped with 2-side berth, refrigeration and freezing equipment.
Santa, Higashitoyoda,
Location
Hiratsuka City, Kanagawa
Construction Date April 30, 2003
Acquisition Date October 16, 2020
Acquisition Price JPY 1,200 million
Appraisal Value JPY 1,230 million
Appraisal NOI Yield 4.8%
Gross Floor Area 1,628.08㎡
Land Area 8,000.04㎡
Steel-framed, alloy plated steel,
LiCS Hiratsuka Structure shingle roofing/
LastMileCenter 2-story
Constructor Takumi Corporation
Number of Tenants 1
Major Tenant Konoike Transport Co., Ltd.
48Property L-07 Logistics
Kanto Area
Tomei Shin-Tomei Ken-O Within 2km Within 5km
Property Expressway Expressway Expressway from station from IC
（SOSiLA Ebina Emergency Power CASBEE
Ramp way 2-side Berth Cafe Lounge LED
(quasi co ownership interest of 62%)) Generator
A Rating
Location
The property is located within 5km from interchanges, at approximately 1km from “Ebina”
IC of the Ken-O Expressway, and approximately 4km from “Atsugi” IC of the Tomei
Expressway, a junction between Tomei Expressway which is the main artery of the East and
the West of Japan, and Ken-O Expressway which is vital to delivery business in the Greater
Tokyo Area. While easing of traffic congestion is promoted by the opening of the Shin-Tomei
Expressway, the location is the west gateway to the Kanto Area, and has convenient access
to the central Tokyo.
The property is located within a land readjustment project area in the middle of a residential
カフェラウンジ
district of Ebina City which is gaining population along with the development of area
surrounding the Ebina Station of JR Sagami-line/Odakyu-Odawara line/Sagami railway main
写真要差し替え
line, which is a rare area. Accessible to “Ebina” Station using a route bus (7 minutes), a
walking distance of approximately 1.7km from “Atsugi” Station of JR Sagami-line/Odakyu-
Odawara line, and approximately 1.3km from the “Shake” Station of JR Sagami-line, within
2km from the nearest station, it is an advantageous location for securing labor force.
Features of Property
The property is the logistics properties of the SOSiLA Series, 4-story building of the total floor
area of over 70,000m2, with ramp way that allows trucks to pull in directly to the 1st
through 3rd floors. Berths with a central truck lane on both sides facilitate frequent delivery
and 24-hour operations, with the ceiling beam height clearance of 5.5m for each floor,
securing the floor load of 1.5t/m2 (1.8t/m2 for 3rd and 4th floors), and available for
increasing vertical conveyers and cargo elevators.
外観
Equipped with an open and modern entrance hall, it also provides a café lounge, “SOSiLA
Crew Lounge”, at the top floor of the building providing workers with a recreation area, and a
view of Mt. Fuji can be seen from a spacious glass wall window up to the ceiling.
5 Nakashinden, Ebina City,
Location
Kanagawa
Construction Date February 17, 2020
Acquisition Date December 4, 2020
Acquisition Price JPY 14,694 million
Appraisal Value JPY 14,900 million
Appraisal NOI Yield 4.4%
Gross Floor Area 71,963.60㎡（44,617.43㎡）
Land Area 33,817.00㎡
Reinforced Concrete, RC
Structure aluminum-zinc alloy coated
steel roofing/4-story
Constructor Kumagai Gumi Co., Ltd.
Number of Tenants 5
49 Major Tenant Konoike Transport Co., Ltd.You can also read
