Samty Residential Investment Corporation Announces Asset Replacement Deal Involving 18 Properties
On July 30, Samty Residential Investment Corporation announced the execution of an asset replacement transaction comprising the acquisition of trust beneficiary interests in nine domestic properties and the disposition of trust beneficiary interests and real properties across another nine assets.
The total acquisition price is JPY 8.656 billion, while the total disposition price is JPY 8.935 billion. The acquisition closing date is scheduled for August 29, and the disposition closings will be completed by August 22 at the latest, depending on the individual property.
With the exception of one property, all assets being sold are located in Kyushu. The properties to be acquired are mainly located in the Greater Tokyo Area and Aichi Prefecture, and include the company’s first acquisition in Okayama.
Through this asset replacement, the REIT aims to enhance geographic diversification in its portfolio.Samty Residential Investment Corporation plans to use a portion of the capital gains from the dispositions for unitholder distributions and retain the remainder as reserve through a tax-deferred replacement under Japan’s Special Taxation Measures Law, in a strategy to simultaneously strengthen both distribution levels and equity capital.
Key Facts – Properties to be Acquired
Property Name: S-FORT Furuide fiore
Seller: Iris No. 1 GK
Price: JPY 1,186 million
Location: 3-3-5 Furuide, Chikusa-ku, Nagoya, Aichi
Nearest Station: 15-min walk to Nagoya Dome-mae Yada Station (Meijo Line), 16-min walk to Imaike Station (Higashiyama and Sakura-dori Lines)
Completion: September 9, 2020
Number of Floors: 14F
Gross Floor Area: 2,777.97㎡ (approx. 29,900 sq. ft.)
Property Name: S-RESIDENCE Atsuta II
Seller: Iris No. 1 GK
Price: JPY 1,094 million
Location: 1-7-8 Yokota, Atsuta-ku, Nagoya, Aichi
Nearest Station: 5-min walk to Atsuta Station (JR Tokaido Line), 8-min walk to Atsuta Jingū Nishi Station (Meijo Line)
Completion: February 13, 2023
Number of Floors: 13F
Gross Floor Area: 2,624.60㎡ (approx. 28,250 sq. ft.)
Property Name: S-RESIDENCE Horita North
Seller: Iris No. 1 GK
Price: JPY 1,018 million
Location: 1-4-2 Daikishinmachi, Mizuho-ku, Nagoya, Aichi
Nearest Station: 10-min walk to Jingū-mae and Horita Stations (Meitetsu Nagoya Main Line)
Completion: January 16, 2023
Number of Floors: 15F
Gross Floor Area: 2,295.01㎡ (approx. 24,700 sq. ft.)
Property Name: S-RESIDENCE Sannō
Seller: Iris No. 1 GK
Price: JPY 729 million
Location: 2-20-22 Nishibiwaki, Nakagawa-ku, Nagoya, Aichi
Nearest Station: 5-min walk to Sannō Station (Meitetsu Nagoya Main Line)
Completion: November 10, 2022
Number of Floors: 15F
Gross Floor Area: 1,620.48㎡ (approx. 17,450 sq. ft.)
Property Name: S-RESIDENCE Omotechō
Seller: Iris No. 1 GK
Price: JPY 1,084 million
Location: 3-10-21 Omotechō, Kita-ku, Okayama, Okayama
Nearest Station: 1-min walk to Saidaiji-chō Station (Okayama Electric Tramway Higashiyama Line)
Completion: March 13, 2023
Number of Floors: 15F
Gross Floor Area: 2,569.06㎡ (approx. 27,650 sq. ft.)
Property Name: S-FORT Nishi-Funabashi libre
Seller: Iris No. 1 GK
Price: JPY 1,058 million
Location: 4-30-27 Nishifunabashi, Funabashi, Chiba
Nearest Station: 3-min walk to Nishi-Funabashi Station (JR Sobu Line, Tokyo Metro Tozai Line)
Completion: April 21, 2022
Number of Floors: 6F
Gross Floor Area: 1,241.98㎡ (approx. 13,375 sq. ft.)
Property Name: S-FORT Itabashi-Honchō
Seller: Iris No. 1 GK
Price: JPY 973 million
Location: 13-6 Yamatochō, Itabashi-ku, Tokyo
Nearest Station: 2-min walk to Itabashi-Honchō Station (Toei Mita Line)
Completion: March 13, 2023
Number of Floors: 10F
Gross Floor Area: 1,120.22㎡ (approx. 12,050 sq. ft.)
Property Name: S-FORT Funabashi Kaijin East
Seller: Iris No. 1 GK
Price: JPY 942 million
Location: 3-8-8 Kaijin, Funabashi, Chiba
Nearest Station: 8-min walk to Kaijin Station (Keisei Main Line)
Completion: February 22, 2021
Number of Floors: 4F
Gross Floor Area: 1,462.22㎡ (approx. 15,740 sq. ft.)
Property Name: S-FORT Hachiōji Horinouchi
Seller: Iris No. 1 GK
Price: JPY 572 million
Location: 3-30-5 Horinouchi, Hachiōji, Tokyo
Nearest Station: 5-min walk to Keio-Horinouchi Station (Keio Sagamihara Line)
Completion: February 28, 2014
Number of Floors: 5F
Gross Floor Area: 1,036.57㎡ (approx. 11,160 sq. ft.)
Key Facts – Properties to be Disposed
Property Name: S-FORT Fukuoka-Kenchōmae
Price: JPY 1,230 million
Location: 4-2-8 Chiyo, Hakata-ku, Fukuoka, Fukuoka
Completion: January 21, 2008
Number of Floors: 14F
Gross Floor Area: 2,895.99㎡ (approx. 31,170 sq. ft.)
Property Name: S-FORT Takamiya
Price: JPY 990 million
Location: 3-8-18 Noma, Minami-ku, Fukuoka, Fukuoka
Completion: February 23, 2008
Number of Floors: 10F
Gross Floor Area: 2,626.05㎡ (approx. 28,260 sq. ft.)
Property Name: S-FORT Meinohama
Price: JPY 560 million
Location: 3-4-26 Meinohama, Nishi-ku, Fukuoka, Fukuoka
Completion: July 25, 2006
Number of Floors: 10F
Gross Floor Area: 1,437.06㎡ (approx. 15,470 sq. ft.)
Property Name: S-FORT Ōita Ekimae
Price: JPY 980 million
Location: 3-1-4 Chūōmachi, Ōita, Ōita
Completion: March 27, 2007
Number of Floors: 11F
Gross Floor Area: 2,772.19㎡ (approx. 29,830 sq. ft.)
Property Name: S-FORT Saga Tenjin
Price: JPY 800 million
Location: 1-2-59 Tenjin, Saga, Saga
Completion: October 7, 2008
Number of Floors: 14F
Gross Floor Area: 2,989.64㎡ (approx. 32,170 sq. ft.)
Property Name: S-FORT Kagoshima-Chūō
Price: JPY 840 million
Location: 10-3 Nishisengokuchō, Kagoshima, Kagoshima
Completion: July 13, 2013
Number of Floors: 14F
Gross Floor Area: 2,400.44㎡ (approx. 25,840 sq. ft.)
Property Name: S-FORT Kagoshima Ekimae Bayside
Price: JPY 730 million
Location: 12-4 Ogawachō, Kagoshima, Kagoshima
Completion: April 15, 2016
Number of Floors: 13F
Gross Floor Area: 2,054.76㎡ (approx. 22,120 sq. ft.)
Property Name: S-FORT Fukuoka East
Price: JPY 2,295 million
Location: 1-3-55 Enokida, Hakata-ku, Fukuoka, Fukuoka
Completion: May 7, 2007
Number of Floors: 10F
Gross Floor Area: 5,762.97㎡ (approx. 62,050 sq. ft.)
Property Name: S-FORT Moriyama
Price: JPY 510 million
Location: 24-4 Tsukenya, Moriyama-ku, Nagoya, Aichi
Completion: March 20, 2007
Number of Floors: 9F
Gross Floor Area: 1,762.24㎡ (approx. 18,970 sq. ft.)