KDX Realty Investment Corporation
Notice Regarding Changes to Internal Regulations of the Asset Management Company (Listed REIT Headquarters Operation Guidelines)
KDXR has revised its operation guidelines. Formal decisions include establishment/change of PM outsourcing fees, establishment of switching fees for fixed-term lease contracts, transition to NOI-linked compensation, and an increase in base fees for logistics facilities. The effective date is November 1, 2026.
Key Figures
- Base fee for logistics facilities (annual): After revision 3.6 million yen (monthly 300,000 yen), Current 3 million yen (monthly 250,000 yen)
- Base fee for commercial facilities: Ratio of NOI-linked compensation after revision and multipliers by resident-type classification
- Switching fee for conversion to fixed-term lease/fixed-term land lease contracts: Newly established, amount equivalent to one month's rent after switching
AI要約
Governance and Overview of Changes
This guideline revision aims to centralize the operation and management of mid-sized offices, commercial and logistics facilities held by KDXR, and is implemented to standardize and increase transparency of PM outsourcing fee levels. Newly introduced switching fees for fixed-term lease contracts, transition to an NOI-linked remuneration structure, and a flexible fee structure that applies regardless of subcontracting are being introduced.
Impact, Scope of Application and Outlook
The guideline changes will apply from November 1, 2026, and cover newly acquired properties and conversions at the time of future contract renewals. Existing properties are not subject to application. Compensation for multi-tenant commercial facilities will be primarily NOI-linked, revising the previous structure that depended on actual sub-PM outsourcing costs, and promoting efficiency in PM contract acceptance systems. Base fees for logistics facilities are also increased on an annual basis in anticipation of an increase in large-scale properties.
KDX Realty Investment Corporation
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