Home > About United Urban > Investment Policies > Type of Use
United Urban pursues properties as investment targets based on the following investment standards for respective property types.
| Retail Properties | Location | Tokyo Metropolitan Area and other major cities in Japan including government designated cities, and surrounding areas thereof. |
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| Point of Analyses | Analyses on such factors as the potentiality and growth prospects of the relative commercial spheres, its conformity with the tenants' business types, competition status within the commercial spheres and possibility of competitors' emergence shall be made. Based on these analyses, comprehensive considerations shall be given to respective investment targets concerning the properties' locality due to the characteristics of their location, the scales of the commercial spheres, typical scale of respective business types, content of lease agreements with respective tenants, readiness to secure replacing tenants, future prospects of the areas and other factors. | |
| Office Buildings | Location | Tokyo Metropolitan Area and other major cities in Japan including government designated cities (esp. 6 wards of Tokyo). Properties in other major cities in Japan other than the Tokyo Metropolitan Area and government designated cities shall be limited to those with adequate competitive edges within the cities. |
| Point of Analyses | The specifications of the buildings, including interior and exterior fittings, ceiling height and facilities (such as electric power, air-conditioning method, number of communications lines and security) shall have enough competitiveness with other buildings of subject business areas. In addition, broad and deep considerations shall be given to respective investment targets concerning the properties' in conformity with their areas' characteristics, readiness to secure replacing tenants, future prospects of the areas and other factors. | |
| Hotels | Location | Tokyo Metropolitan Area and other major cities in Japan including government designated cities. |
| Lease Contract | In principal, hotel operations shall be conducted in the lease scheme (direct leasing scheme). In particular, the lease agreements with the operators (responsible managers and responsible operators of the hotels) shall have the validity over five years and the revenues from the fixed portion of rents shall contribute to the earnings from the portfolio. | |
| Scale | Appropriate scales are to be determined according to the individual characteristics of location, function or business type of each hotel, with considerations given to the future prospects of the area. As a rule, however, at least 100 guest rooms are required. |
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| Category | Target hotels of upscale, multi-function type; mid-scale, multi-use type; and economy, stay-specific type. | |
| Other | Comprehensive considerations shall be given to the characteristics of the location and the market trends (commercial spheres, competition status, purposes of stay, types of stay, number of guests, room charges, occupancy ratio, etc), the operators' performance, credit status including financial settlement, rent levels, lease period, the amount of lease deposit, conditions for cancellation, possible availability of replacing tenants and other factors. | |
| Residential Properties | For Singles | Comprehensive considerations shall be given on locations, building grades, rent levels and other factors. In principle, investment shall be made in the urban areas of the Tokyo Metropolitan Area and the central areas of government-designated cities and other major cities throughout the nation. Also, each lentil unit shall have an exclusive area of 20m2 minimum, and there shall be at least 40 units in a condominium building. |
| For DINKS | Comprehensive considerations shall be given on locations, building grades, rent levels and other factors. In principle, investment shall be made in the urban areas of the Tokyo Metropolitan Area and the central areas of government-designated cities and other major cities throughout the nation. There shall be at least 20 units in a condominium building. |
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| For Family | Comprehensive considerations shall be given on locations, building grades, rent levels and other factors. In principle, investment shall be made in the urban areas of the Tokyo Metropolitan Area, the central areas of government-designated cities and other major cities throughout the nation and the areas thereof. There shall be at least 20 units in a condominium building. |
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| For High-grade | United Urban shall make investments only in condominiums expected to produce steady earnings, while giving attentions on the location, building grades, rent levels and other factors. As areas of location, invest in the 6 central wards of Tokyo and surrounding areas in principle. There shall be at least 10 units in a condominium building. | |
| Others | Others include warehouses and other logistics facilities, parking lots, medical and nursing facilities and training facilities. No specific limitations shall be posed on location or scale, as properties in this category have a variety of types of uses. However, investment shall be conducted with comprehensive considerations on the individual characteristics of the location, readiness to secure replacement tenants, availability of facilities for general purposes and other factors for individual target properties. | |
When the Target Properties Have Multiple Uses
The proportion of each type of use in the entire portfolio shall be calculated based on the following standards.
When the acquisition price of the target property is 5 billion yen or less, the entire property shall be classified as the property type for which the largest portion of its leasable floor spaces is used.
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When the acquisition price of the target property is over 5 billion yen, its property type shall be classified by allocating the appraisal value in accordance with the proportions of the property's leasable floor spaces for each respective type of use. However, in terms of the type of use for which the leasable floor space occupies 35% or less of the entire property, it is allocated to the type of use that occupies the largest portion of the leasable floor space.
