ORIX JREIT REPORT 7th Period

orixjreit.com

ORIX JREIT REPORT 7th Period

7thORIX JREIT REPORT 7th PeriodFROM:March 1,2005 TO:August 31,2005


Profile and Portfolio Strategy of ORIX JREIT Inc.ORIX JREIT Inc. (TSE:8954), a Japanese real estate investment corporation, was established on September 10, 2001, with¥200 million of capital contribution by ORIX Corporation [TSE:8591, NYSE:IX(ADR)], under the Law Concerning InvestmentTrusts and Investment Corporations of Japan, or the Investment Trust Law. Our portfolio strategies are as follows.Sector diversification - Office focusGeographical concentration - Greater Tokyo met.Risk diversification - Medium-sized propertiesActive portfolio managementPortfolio growth[Total Assets][Asset Size (Total purchase price of properties)][Revenue][DPU](¥ million)200175150125 116100121132161175170197(¥ million)20017515012599100104114141153178176(¥ million)8,0007,3737,0006,5776,4266,0726,0005,1214,8045,000 4,7994,000(¥)18,00016,05115,50115,24615,00012,0009,00016,43714,06814,50812,0147550257550253,0002,0001,0006,0003,00014,156 14,772 Sep0Aug2002Feb Aug Feb Aug Feb Aug2003 2003 2004 2004 2005 20050Aug2002Feb Aug Feb Aug Feb Aug2003 2003 2004 2004 2005 20050Sep Sep Mar Sep Mar Sep Mar2001 2002 2003 2003 2004 2004 2005l l l l l l lAug Feb Aug Feb Aug Feb Aug2002 2003 2003 2004 2004 2005 20050Sep Sep Mar Sep Mar Mar Sep Mar2001 2002 2003 2003 2004 2004200520052006l l l l l l l l lAug Feb Aug Feb Aug Feb Aug Feb Aug2002 2003 2003 2004 2004 2005 200520062006Note 1: Actual first period (September 10, 2001–August 31, 2002) was 8.4 months. Each figure of August 2002 in above charts was adjusted to 6 months.Note 2: DPU for the 8th and 9th fiscal period from September 2005 to February 2006 and from March to August 2006 respectively are estimated figures as of October 17, 2005.UNIT PRICE TREND & UNITHOLDERSIndexMessage from ManagementThe Portfolio of ORIX JREIT Inc.Map of The PortfolioNew AcquisitionsOverview of Portfolio PropertiesImprovements of the operationalefficiency the portfolio throughproperty substitutionsOutline of ORIX JREIT Inc. andIts Asset Management CompanyI Performance Information ReportInvestment Performance OverviewFund OverviewPortfolio OutlineCapital ExpenditureAdministrative ExpensesTrading ActivitiesII Financial StatementsCorporate Data001004005006008013014016021025030031031[Unit Price & Transaction Volume]¥850,000825,000800,000775,000750,000725,000700,000675,000650,000625,000600,0000 02005/3/1 3/31 4/28 5/31 6/30 7/29 8/31 9/30 10/31 11/30[Unitholder Composition]Breakdown bynumber of units(Total:175,372units)Breakdown bynumber of investors(Total:19,828)49,359(28.15%)Retail investors & others Financial institutions Corporations Overseas institutions6,360 (3.63%)19,345(97.56%)102,065(58.20%)Unit5,50017,588(10.03%)107 (0.56%) 276 (1.39%) 100 (0.50%)0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%5,0004,5004,0003,5003,0002,5002,0001,5001,000500


Message from ManagementFellow Unitholders:DPU (Distribution per Unit) of ¥16,437 for the seventh fiscal period (7FP) is definitely a good news forall of you.Also, I’m very happy to report our acquisition and disposition activities made and agreed upon in 7FP.In summary, we’ve purchased three properties in Osaka and Nagoya with total purchase value of ¥29.2billion, disposed two smaller properties with sales price of ¥1.7 billion, and agreed to sell nine moreproperties for ¥12.4 billion to buyers in phases by December, 2005. Through these efforts as well ascommitted acquisition for Seafort Square/Center Building, our portfolio has been further enhanced in itsquality, which is exemplified by higher average acquisition price of ¥4.7 billion as well as younger averageproperty age of 12.0 years at the end of August, 2005. Detailed comparison is available in page 3.Hiroshi IchikawaExecutive Director, ORIX JREIT Inc.President,ORIX Asset Management CorporationIn August, we made some substantial progress to enhance synergy with ORIX Group and to make ourinvestment policy more attractive. More specifically, we announced our new investment policy, OJR WAY,to further diversify our portfolio and to seek for future upside potential in promising and fresh sectors,such as distribution centers and nursing care facilities. As for enhancement of synergy, AdvisoryAgreement between ORIX JREIT Inc. ("OJR") and ORIX Asset Management Corporation ("OAM") wasexecuted, and two key figures were dispatched from ORIX Real Estate Corporation ("ORE") to OAM as nonexecutivedirectors.All of these efforts and achievement will further promote aggressive but healthy asset growth of OJRand upside potential in the future.At last, I’d like to report that OJR’s operating revenue and net income for 7FP was ¥7.4 billion and ¥2.9billion respectively. After executing contracted purchase and sales, our portfolio will be ¥191.9 billion with40 properties in late April 2006 from ¥176.8 billion with 47 buildings at the end of August, 2005.–– EVENTS & CALENDER Year 2005[7th Period]March 1March 22March 31April 18April 19April 27May 27May 30June 15June 16August 10August 18August 29Acquisition of The SHOHO 3rd BuildingExecution of purchase and sale contract for Round-CrossShinjukuEstablishment of ¥20,000 million commitment lineAnnouncement 6th fiscal period resultsInformation session for the 6th fiscal period results at TokyoAcquisition of ORIX Koraibashi Building & drawdown of¥5,500 million short term un-secured floating rate loan tofinance the acquisitionFiling of Yukashoken Hokokusho for 6th fiscal period toMonetary Service Agency, JapanAcquisition of ORE Nagoya Fushimi Building & drawdownof ¥10,400 million short term, un-secured, floating rate loanto finance the acquisitionDisposition of OX Gifu BuildingDisposition of VX Kayabacho BuildingExecution of Advisory Agreement between OAM and ORETwo of ORE management were appointed as new directorsfor OAM -Mr. Tetsuya Yamashita and Mr. Mitsuo Sato-Changes for Asset Management Agreement and othersChanges for the internal code of OAMAnnouncement of new investment units issue[8th Period]September 14September 20September 27September 29September 30October 7October 12October 17October 18November 1¥33,287 million proceeds from issuance of 47,500 newinvestment unitsRepayment of short term, floating rate loans for ¥26,900million in totalDisposition of Ascend KandaDrawdown of long term, un-secured, fixed rate loan for¥3,000 million to partially finance acquisition of beneficialinterest of Seafort Square/ Center BuildingAcquisition of 50% of beneficial interest of Seafort Square/Center BuildingDisposition of Sunny Building¥1,752 million proceeds from issuance of 2,500 newinvestment unitsAnnouncement 7th fiscal period resultsInformation session for the 7th fiscal period results atTokyoDisposition of Shiba East Building/ Center Machiya/Waseda Ekimae Building/ OX Basho no Tsuji Building/ OXOtsu Building/ OX Kameido Building/ OX Mito Building001


Message from ManagementREVIEW OF 7 th FISCAL PERIOD - 6 months from March 1, 2005–– DISPOSITIONWe disposed of two properties and agreed to sell nine properties as below.[Disposed]Both of following properties were disposed of in July, 2005 to different buyers.NameSales PriceAcquisition PriceVX Kayabacho Building¥1,040 million¥880 millionOX Gifu Building¥620 million¥528 million[Disposition Contracted]Disposition for nine properties below have been contracted in 7FP and are to be executed by December, 2005.(¥ in millions)Delivery Time Spt. Oct. Nov. TOTALProperty NameAscendKandaSunnyBuildingShiba EastBuildingCenterMachiyaWaseda EkimaeBuildingOX Basho noTsuji BuildingOX OtsuBuildingOX KameidoBuildingOX MitoBuildingDisposal Price 677 7,183 712 324 1,548 806 230 484 396 12,361Acquisition Price 670 5,300 707 610 1,628 883 181 438 498 10,915–– ACQUISITIONWe purchased following three properties in 7FP.FROM ORIX GROUPFROM THIRD PARTYAcquisition PriceAcquisition DateAddressSpace LandBuildingStructureCompletionApprisal ValueAppraiserSellerORIX Koraibashi Building¥5,560 millionApril 27, 20053-2-7 Koraibashi, Chuo-ku, Osakacity,Osaka1,668.18m 29,478.43m 2Steel-frame, steel frame reinforcedconcrete 8 stories above groundwith one basement floorJuly 2004¥5,563 millionChuo Real Estate Appraisal Corp.ORIX Real Estate Corp.ORE Nagoya Fushimi BuildingAcquisition PriceAcquisition DateAddressSpace LandBuildingStructureCompletionApprisal ValueAppraiserSeller¥10,040 millionMay 30, 20052-9-29 Nishiki, Naka-kuNagoya-city, Aichi1,998.46m 215,817.39m 2Steel-frame, 11 stories aboveGround with one basement floorFebruary, 2004¥10,040 millionChuo Real Estate AppraisalCorp.ORIX Real Estate Corp.Acquisition PriceAcquisition DateAddressSpace LandBuildingStructureCompletionApprisal ValueAppraiserSellerThe SHOHO 3rd Building¥13,600 millionMarch 1, 20053-2-7 Koraibashi, Chuo-ku, Osaka-city,Osaka2,304.74m 223,483.28m 2Steel-frame, steel frame reinforced concrete,reinforced concrete, 14 stories above ground with 2basement floorsApril, 1986¥12,900 millionMorii Appraisal & Investment Consulting, Inc.SHOHO LAND AND BUILDING CO. LTD. & Mr. TakaakiManno002


Average ¥2.55bn¥1bn7.16%¥1bn¥5bn50.21%¥10bn26.72%[Acquisition price]¥5bn¥10bn15.90%Average ¥4.71bn¥1bn0.63%¥1bn¥5bn33.98%¥5bn¥10bn28.27%¥10bn37.13%As of Aug. 31, 2002 As of Aug. 31, 2005Average 12.1 years5 years18.98%5 years10 years24.81%20 years20.42%10 years15 years29.58%[Building age]15 years20 years6.21%Average 12.0 years5 years31.79%20 years13.51%15 years20 years16.67%10 years15 years25.13%5 years10 yearsAs of Aug. 31, 200212.90%As of Aug. 31, 2005Note: Both charts on the right side include the acquisition prices of properties that had been acquired/ committed to be acquired by the end of the 7th period (Aug 31, 2005) andexclude those for properties that had been sold/ committed to be sold. Round-Cross Shinjuku, under construction as of August 31, 2005, is not included in any of above chart.–– STRATEGYSince our foundation, we have maintained consistent investment strategies that are summarized below. We’ve been keeping and willcontinue sticking to following basic strategies in the future as well.Sector DiversificationGeographical ConcentrationRisk DiversificationActive Portfolio Management: Office Focus: Greater Tokyo Met.: Medium-sized PropertiesIn addition, we announced new investment policy named ‘OJR WAY’ on August 18, 2005. OJR WAY means investment activities forproperties whose market recognition has not been well established and those that are before construction. OJR WAY properties includedistribution centers, warehouses, nursing and personal care facilities, limited property rights of land and practice & training facilities. Thepurpose of OJR WAY is to obtain high quality properties with upside potential through buying properties in fresh property sectors and to grabattractive properties at reasonable prices with less competition by investing in buildings before completion.As for enhancement of synergy with ORIX Group, OAM, the asset manager for OJR, executed Advisory Agreement with ORE to obtainfurther intelligence and advice, and OAM appointed two key figures from ORE as non-executive directors on August 10, 2005.With the new investment policy, OJR WAY, as well as strengthened synergy with ORIX Group represented by the Advisory Agreement andtwo new directors, OJR will keep making its every endeavor to realize aggressive but healthy asset growth in the future as well.–– FINANCE/ GROWTHTo improve loan to value ratio and obtain momentum for future growth, OJR issued 50,000 new investment units and received proceeds of¥35,039 million in total on September 14 and October 12, 2005. Aiming to reduce short-term floating rate debt and to increase long-term fixedrate one, OJR repaid its short-term debt of ¥26,900 million in total on September 20, 2005 by utilizing fresh money from equity finance andsecured long-term, fixed rate, non-mortgage loan of ¥3,000 million to partially finance Seafort Square/ Center Building on September 29,2005.Thanks to above efforts, OJR’s loan-to-value ratio was reduced to 37% and long-term and fixed rate debt shares out of total debt of¥70,550 million rose to 99% and 63%, respectively at the end of October, 2005. This sound financial shape helps OJR's healthy asset growthin the future as well.003


The Portfolio of ORIX JREIT Inc.TypeAreaNo.PropertyAcquisition Price(¥ million)Share in TotalAcquisition Price (%)As of October 31, 2005Occupancy Rate (%)Note 1OfficeRetailResidentialHotelTokyo Central 3 WardsOther Tokyo WardsGreater TokyoOther CitiesTokyo Central 3 WardsOther Tokyo WardsTokyo Central 3 WardsOther Tokyo WardsGreater Tokyo123456789101112131415161718192021222324252627282930313233343536373839Akasaka Kyowa BuildingAoyama Suncrest BuildingNikko Ichi-bancho BuildingBeside ShiroganeRound-Cross AoyamaRound-Cross Akasaka MitsukeNihonbashi East BuildingLandic Minami Azabu BuildingLandic Akasaka BuildingLandic Akasaka Building 2Landic Akasaka Building 3Landic Mita Building 2Shiba Daimon BuildingLandic Nagai BuildingORIX Jimbo-cho BuildingORIX Shiba 2-chome BuildingAoyama 246 BuildingSubtotalCarrot TowerToyo MK BuildingNikko Moto Yoyogi BuildingRound-Cross Nishi ShinjukuBeside KibaDT GaienYoyogi Forest BuildingORIX Ikebukuro BuildingORIX Shinjuku BuildingSeafort Square / Center BuildingSubtotalNeo City MitakaExcellent Kawasaki BuildingSubtotalNagoya Itochu BuildingThe SHOHO 3rd BuildingORIX Koraibashi BuildingORE Nagoya Fushimi BuildingSubtotalOffice TotalNihon Jisho Minami Aoyama BuildingSubtotalCUBE DaikanyamaSubtotalRetail TotalPark Axis Nishi Azabu StageSubtotalGrand Maison HakusanSonet Kami IkebukuroSubtotalResidential TotalCross GateSubtotalOthers TotalGrand TotalNote 1: Above mentioned occupancy rate is as of October 31, 2005.Note 2: The acquisition price of Seafort Square/Center Building includes following two acquisitions. 1) ¥9,000 million September 30, 2005 2) ¥9,000 million, April 28, 2006 (plan)Note 3: Except above mentioned properties, OJR will acquire Round-Cross Shinjuku late April 2006 which is presently under construction.Note 4: OJR sold Ascend Kanda on September 27, 2005.Note 5: OJR sold Sunny Building on October 7, 2005Note 6: OJR sold the following seven properties on November 1, 2005 Shiba East BuildingCenter MachiyaWaseda Ekimae BuildingOX Basho no Tsuji BuildingOX Otsu BuildingOX Kameido BuildingOX Mito Building0042,0873,3563,9001,3014,5291,6501,7201,39411,5802,6246981,7482,1953,3784,1777,5005,20059,0365,4795,2705,0912,6502,4502,4301,4739,5778,30018,00060,7202,2004,1306,3304,50013,6005,56010,04033,700159,7862,5482,5482,4352,4354,9831,2191,2194552,3772,8324,05115,04015,04015,040183,8601.11.82.10.72.50.90.90.86.31.40.41.01.21.82.34.12.832.13.02.92.81.41.31.30.85.24.59.833.01.22.23.42.47.43.05.518.386.91.41.41.31.32.70.70.70.21.31.52.28.28.28.2100.0100.0100.0100.0100.095.4100.0100.064.899.4100.0100.098.0100.0100.0100.0100.0100.097.6100.096.6100.0100.0100.0100.0100.0100.0100.089.397.4100.0100.0100.079.280.393.2100.086.994.7100.0100.0100.0100.0100.0100.0100.0100.0100.0100.0100.099.099.099.095.5


Map of The PortfolioKitaAdachiMap of Central Tokyo with Property LocationsArakawaKatNew AcquisitionsItabashiMachiyaToshima382537BunkyoHakusanTaitoSetagayaSetagayaSangenjaya18Round-CrossShinjuku2021YoyogiYoyogiHachimanShibuya35ShinjukuMeguroShinjuku23234ShibuyaDaikanyama2426Omotesando174HirooWasedaGaienmae58RoppongiShiroganedaiKagurazaka3Hanzomon6 11369AkasakaMitsukeMinatoTameikeSannohMitaChiyodaImperial Palace101DaimonShibaKoen1213KandaHamamatsucho1615TokyoChuoHigashiNihonbashiTsukijiKayabacho147SumidaKibaToyochoMap of Japan with Property Locations22Kameido19KOTOEdGotandaShinagawaHigh wayJR Lines27Subway Ginza LineSubway Hibiya LineShinagawaSubway Marunouchi LineSubway Tozai LineSubway Hanzomon Line/ Denentoshi LineSubway Nanboku LineSubway Asakusa LineSubway Mita LineSubway Oedo LinePrivate Line Tokyu Toyoko LineFukuokaOsaka3132NagoyaTokyo3330SendaiYokohama293928005


New AcquisitionsNew Acquisition in the 8th and 9th periods27 Seafort Square/Center BuildingLocation3-12 and others,Higashishinagawa 2-chome,Shinagawa-ku, TokyoCompletionJune 1, 1992Structure30 stories above ground with 2basement floors.Size of Land*4,142,932/10,000,000 out of17,189.24m 2Total Retable Area** 38,934.71m 2Acquisition Date1) September 30, 20052) April 28, 2006 (plan)Acquisition Price 1) ¥9,000 million2) ¥9,000 millionShare in Total Acquisition Price 9.8%Note 1: 50% of the joint-ownership of the trust beneficiary rights of Seafort Square/Center Bldg.was acquired on Sep. 30, 2005. Remaining 50% will be acquired on Apr. 28, 2006.Note 2: Share in Total Acquisition Price is calculated based on grand total of portfolio acquisitionprice of ¥183,860 million mentioned in page 4 “The Portfolio of ORIX JREIT Inc.”* Area within Seafort Square that is owned by ORIX JREIT (41.43%)** Portion to be owned by ORIX JREIT*** Center Bldg has 25fl above and 2fl below ground006


Future Acquisition in the 9th fiscal periodRound-Cross ShinjukuLocationCompletionStructureSize of LandTotal Retable AreaEstimated Acquisition DateAcquisition Price2-11-17Yoyogi, Shibuya-ku, TokyoOctober-20059 stories above ground with2 basement floors731.53fl4,736.16flLate April 2006¥8,020 millionNote: This is a property design drawing that shows how the building will look like whencompleted. This may differ from actual building.007


Overview of Portfolio PropertiesOFFICES1Akasaka Kyowa Building2Aoyama Suncrest BuildingLocationMinato-ku, TokyoLocationMinato-ku, TokyoTotal Rentable Area3,382.28m 2Total Rentable Area2,790.06m 2CompletionJune-1978CompletionSeptember-1979Acquisition Price¥2,087 millionAcquisition Price¥3,356 millionShare in Total Acquisition Price1.1%Share in Total Acquisition Price1.8%3Nikko Ichi-bancho Building4Beside ShiroganeLocationChiyoda-ku, TokyoLocationMinato-ku, TokyoTotal Rentable Area3,300.66m 2Total Rentable Area2,083.04m 2CompletionMarch-1994CompletionSeptember-1989Acquisition Price¥3,900 millionAcquisition Price¥1,301 millionShare in Total Acquisition Price2.1%Share in Total Acquisition Price0.7%5 Round-Cross Aoyama6Round-Cross Akasaka MitsukeLocationMinato-ku, TokyoLocationMinato-ku, TokyoTotal Rentable Area3,308.37m 2Total Rentable Area1,323.28m 2CompletionOctober-1986CompletionFebruary-1988Acquisition Price¥4,529 millionAcquisition Price¥1,650 millionShare in Total Acquisition Price2.5%Share in Total Acquisition Price0.9%7Nihonbashi East Building8Landic Minami Azabu BuildingLocationChuo-ku, TokyoLocationMinato-ku, TokyoTotal Rentable Area2,275.01m 2Total Rentable Area3,182.80m 2CompletionOctober-1989CompletionMay-1992Acquisition Price¥1,720 millionAcquisition Price¥1,394 millionShare in Total Acquisition Price0.9%Share in Total Acquisition Price0.8%008


OFFICES9Landic Akasaka Building10Landic Akasaka Building 2LocationMinato-ku, TokyoLocationMinato-ku, TokyoTotal Rentable Area10,567.01m 2Total Rentable Area2,787.39m 2CompletionJanuary-1973CompletionOctober-1978Acquisition Price¥11,580 millionAcquisition Price¥2,624 millionShare in Total Acquisition Price6.3%Share in Total Acquisition Price1.4%11 Landic Akasaka Building 312Landic Mita Building 2LocationMinato-ku, TokyoLocationMinato-ku, TokyoTotal Rentable Area812.49m 2Total Rentable Area2,353.67m 2CompletionJune-1981CompletionMay-1990Acquisition Price¥698 millionAcquisition Price¥1,748 millionShare in Total Acquisition Price0.4%Share in Total Acquisition Price1.0%13 Shiba Daimon Building14Landic Nagai BuildingLocationMinato-ku, TokyoLocationChuo-ku, TokyoTotal Rentable Area2,588.50m 2Total Rentable Area3,996.89m 2CompletionOctober-1988CompletionMay-1992Acquisition Price¥2,195 millionAcquisition Price¥3,378 millionShare in Total Acquisition Price1.2%Share in Total Acquisition Price1.8%15 ORIX Jimbo-cho Building16ORIX Shiba 2-chome BuildingLocationChiyoda-ku, TokyoLocationMinato-ku, TokyoTotal Rentable Area3,211.50m 2Total Rentable Area6,753.13m 2CompletionMarch-1997CompletionJanuary-2003Acquisition Price¥4,177 millionAcquisition Price¥7,500 millionShare in Total Acquisition Price2.3%Share in Total Acquisition Price4.1%009


Overview of Portfolio PropertiesRETAILS34 Nihon Jisho Minami Aoyama Building35CUBE DaikanyamaLocationMinato-ku, TokyoLocationShibuya-ku, TokyoTotal Rentable Area997.36m 2Total Rentable Area899.82m 2CompletionNovember-1997CompletionJanuary-2003Acquisition Price¥2,548 millionAcquisition Price¥2,435 millionShare in Total Acquisition Price1.4%Share in Total Acquisition Price1.3%RESIDENTIALS36 Park Axis Nishi Azabu Stage37Grand Maison HakusanLocationMinato-ku, TokyoLocationBunkyo-ku, TokyoTotal Rentable Area1,337.31m 2Total Rentable Area1,160.17m 2CompletionApril-2000CompletionMay-1993Acquisition Price¥1,219 millionAcquisition Price¥455 millionShare in Total Acquisition Price0.7%Share in Total Acquisition Price0.2%38 Sonet Kami IkebukuroLocationToshima-ku, TokyoTotal Rentable AreaCompletionAcquisition PriceShare in Total Acquisition Price5,853.00m 2February-1997¥2,377 million1.3%HOTEL39Cross GateLocationTotal Rentable AreaCompletionAcquisition PriceShare in Total Acquisition PriceYokohama City,Kanagawa25,952.60m 2September-2000¥15,040 million8.2%0 12


Improvements of the operational efficiency the portfolio through property substitutionsObjective: Develop a quality portfolio of medium-sized propertiesPolicy: Sale of properties depending on market conditionswith the focus on small-sized propertiesAchievement: Sold 14 propertiesProperty nameNikko KagurazakaBuildingWest SideGotanda6th 7th 8thLandic GotandaBuildingVX KayabachoBuildingOX GifuBuildingAscend Kanda(¥ in millions)Sunny BuildingSale price1,6275782,1351,0406206777,183Acquisitionprice1,6005872,1138805286705,300(¥ in millions)8thProperty nameShiba EastBuildingCenter MachiyaWaseda EkimaeBuildingOX Basho noTsuji BuildingOX OtsuBuildingOX KameidoBuildingOX MitoBuildingSale price7123241,548806230484396Acquisitionprice7076101,6288821814384980 13


Outline of ORIX JREIT Inc. and Its Asset Management CompanyStructureJapanese real estate investment trust, so called JREIT,is a closed-end investment fund that primarily investsin real estate or real estate backed securities anddelivers distribution to unitholders from rental incomeand capital gains from asset sales etc.The Investment Trust Law requiresJREIT to be managed by anexternal entity.InvestmentInvestmentReal EstateInvestmentTrustORIX JREIT Inc.(OJR)IncomeInvestorsDistributionEntrustmentGeneralAffairsTrusteeAsset ManagementCompanyORIX AseetManagementCorporation (OAM)Real EstateAssetCustodianOrganization of AssetManagement Company(OAM)Shareholders' MeetingBoard of DirectorsDirector and ChairmanRepresentative Director and PresidentCorporate AuditorInvestment andFinance CommitteeRisk Management andCompliance CommitteeExecutive OfficerExecutive OfficerInvestmentDepartmentAsset ManagementDepartmentAsset AdministrationDepartmentCorporate Planningand IR DepartmentFinance andAccountingDepartmentThe Office ofthe President1. Strategy planning2. Acquisition anddisposition of properties3. Investigation and analysisof real astate market1. Property managementincluding leasing,making plan/executionfor repairs, improvement,etc.1. Portfolio management ofinvestment properties2. Property level riskmanagement andcompliance1. Investor relations2. Equity finance1. Tax and accounting2. Debt finance3. General and personnelaffairs of OAM1. Risk management andcompliance2. Legal affairs0 14


C o r p o r a t e D a t aCorporate Office4-1, Hamamatsucho 2-chome, Minato-ku, Tokyo105-6135, JapanPhone +81-3-3435-3286FAX +81-3-3435-3275Date of IncorporationSeptember 10, 2001Capital¥85,821 million175,372 unitsNumber of Unitholders19,828 (as of August 31, 2005)Transfer AgentMitsubishi UFJ Trust and Banking Corporation4-5, Marunouchi 1-chome, Chiyoda-ku, Tokyo100-8212, JapanIndependent AuditorsKPMG AZSA & Co.,1-2, Tsukudo-cho, Shinjuku-ku, Tokyo162-8551, JapanInvestor RelationsFor further information, please contact our assetmanagement company or visit our web site.(http://www.orixjreit.com/english/index.htm)ORIX Asset Management CorporationWorld Trade Center Bldg. 35F4-1, Hamamatsucho 2-chome, Minato-ku, Tokyo105-6135, JapanPhone +81-3-3435-3285FAX +81-3-3435-3275


4-1,Hamamatsucho 2-chome, Minato-ku,Tokyo,Japanhttp://www.orixjreit.com/english/index.htm

More magazines by this user
Similar magazines