Star Asia Investment Corporation

Portfolio List

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As of September 12, 2019

For details

Location Acquisition
Acquisition Price
(JPY million)
NOI yield
Ascendingdescending Ascendingdescending Ascendingdescending Ascendingdescending
OFC-01 Office Minami-Azabu Shibuya Building Minato Ward, Tokyo 2,973 2.9 4.7
OFC-03 Office Honmachibashi Tower Osaka, Osaka 6,065 5.9 5.2
OFC-04 Office Nishi-Shinjuku Matsuya Building Shibuya Ward, Tokyo 1,763 1.7 6.4
OFC-05 Office Alphabet Seven Minato Ward, Tokyo 1,725 1.7 5.9
OFC-06 Office Shibuya MK Building Shibuya Ward, Tokyo 2,042 2.0 5.9
OFC-08 Office Asahi Building Yokohama, Kanagawa 6,320 6.2 5.0
OFC-09 Office Hakata-eki East Place Fukuoka, Fukuoka 2,286 2.2 5.4
OFC-10 Office Nihonbashi Hamacho Park Building Chuo Ward, Tokyo 1,450 1.4 4.7
OFC-11 Office Amusement Media Gakuin Honkan Shibuya Ward, Tokyo 2,580 2.5 4.0
OFC-12 Office Higashi-Kobe Center Building Kobe, Hyogo 7,440 7.3 5.8
OFC-13 Office Amusement Media Gakuin Shinkan Shibuya Ward, Tokyo 1,020 1.0 3.9
RSC-01 Residence Urban Park Azabujuban Minato Ward, Tokyo 2,045 2.0 4.4
RSC-02 Residence Urban Park Daikanyama Shibuya Ward, Tokyo 6,315 6.2 4.7
RSC-05 Residence Urban Park Namba Osaka, Osaka 1,490 1.5 5.4
RSC-06 Residence Urban Park Gokokuji Toshima Ward, Tokyo ★■ 1,460 1.4 4.9
RSC-07 Residence Urban Park Kashiwa Kashiwa, Chiba ★■ 1,186 1.2 5.0
RSC-08 Residence Urban Park Ryokuchi Koen Suita, Osaka 1,550 1.5 5.7
RSC-09 Residence Urban Park Koenji Suginami Ward, Tokyo ★■ 1,167 1.1 4.7
LGC-01 Logistics facility Iwatsuki Logistics Saitama, Saitama 6,942 6.8 4.8
LGC-02 Logistics facility Yokohama Logistics Yokohama, Kanagawa 3,560 3.5 5.7
LGC-03 Logistics facility Funabashi Logistics Funabashi, Chiba 7,875 7.7 5.5
LGC-04 Logistics facility Baraki Logistics  Ichikawa, Chiba 4,700 4.6 4.4
LGC-05 Logistics facility Tokorozawa Logistics  Tokorozawa, Saitama 1,300 1.3 5.7
LGC-06 Logistics facility Funabashi Nishiura Logistics I Funabashi, Chiba 3,000 2.9 5.1
LGC-07 Logistics facility Funabashi Nishiura Logistics II Funabashi, Chiba 821 0.8 7.0
LGC-08 Logistics facility Matsubushi Logistics Kitakatsushika, Saitama 2,755 2.7 5.5
HTL-01 Hotel R&B Hotel Umeda East Osaka, Osaka 2,069 2.0 5.6
HTL-02 Hotel Smile Hotel Namba Osaka, Osaka 1,750 1.7 4.7
HTL-03 Hotel BEST WESTERN Tokyo Nishikasai Edogawa, Tokyo 3,827 3.7 4.5
HTL-04 Hotel BEST WESTERN Yokohama Yokohama, Kanagawa 3,248 3.2 4.6
HTL-05 Hotel Hotel WBF Fukuoka Tenjin Minami Fukuoka, Fukuoka 1,970 1.9 4.6
HTL-06 Hotel GLANSIT AKIHABARA Chiyoda Ward, Tokyo 2,500 2.4 3.9
HTL-07 Hotel Best Western Tokyo Nishikasai Grande Edogawa Ward, Tokyo 3,180 3.1 4.0
HTL-08 Hotel Hotel WBF Art Stay Namba Osaka, Osaka 2,000 2.0 4.5
Total     -
(note) The marks indicated in the acquisition column refer to the following.
■: Sponsor group (including related funds) ★: Unique route of the Asset Manager ★■: Warehousing properties
“Appraisal NOI yield” is based on the NOI found in the indication of value by the direct capitalization method in the real estate appraisal report and expressed as a percentage of acquisition price, rounded to the first decimal place.

Investment Securities

Number Investment Securities Amount of
(JPY million)
Underlying Asset
Property Name Location
TK-01 Subordinated silent partnership equity interest in Godo Kaisya
100 Urban Park Mitsuike Koen/
Urban Park Tokiwadai Koen
Yokohama-shi, Kanagawa
TK-02 Silent partnership equity interest in Godo Kaisya
100 OHA Building Tachikawa-shi, Tokyo
Total 200    

Mezzanine debt

Number Type Name of Acquisition Asset(Assets Overview) Acquisition
(JPY million)
MEZ-01 Mezzanine
(Subordinated bond)
Star Asia Mezzanine Loan Debt Investment Series 1
- Haneda Hotel Development GK Series 1 Item A Unsecured Bonds -
400 Base rate +5.0%
MEZ-03 Mezzanine
(Subordinated beneficiary interest)
Star Asia Mezzanine Loan Debt Investment Series 3
- Subordinate beneficiary interest of trust with loan claims to GK CHK as main asset in trust, which holds trust beneficiary interest with The Royal Garden Residence Shirokanedai as main asset in trust -
126 Base rate +5.0%
MEZ-04 Mezzanine
(Subordinated Loan Claims)
Star Asia Mezzanine Loan Debt Investment Series 4
-Subordinate part of nonrecourse loan to GK DS Kaigan, whose collateral asset shall be the beneficiary interest in trust with Premier Kaigan Building as the main
asset in trust -
300 Base rate +5.0%
Total 826  
(note) Yields include dividend rate from the mezzanine loan debt investments