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For the second strategy of developing the REIT (fund) business, although we have been growing the Leasing of Real Estate business, which is a stable income source of the Group, by replacing assets as well, we plan to evolve and develop the recycling reinvestment model by engaging in the REIT business going forward.
With the Tokyu Land Group and the REIT working together, we will expand and improve the quality of our portfolio in the Leasing of Real Estate business based on the cycle of developing, owning and operating, selling, and reinvesting.
The REIT will also expand assets under management, as we support its external growth. It is also anticipated that the Group will earn a wide range of related earnings by taking on the management and operation business of assets under management by the REIT. We will strengthen our financial foundations by growing these operations as stable revenue sources and, at the same time, optimizing our portfolio.
For the REIT business, we are currently preparing for the listing of two REITs: Activia Properties Inc. that invests in commercial and office buildings and Comforia Residential REIT Inc., a privately offered residential REIT that has already commenced investment. |
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