40th Term Financial Summary

Performance Overview

In the 40th term (FY February 2026), Mitsui Fudosan Accommodation Fund Inc. recorded operating revenue of JPY 13,727 million (YoY +JPY 531 million), operating income of JPY 6,353 million (+JPY 502 million), and net income of JPY 299 million (+JPY 299 million). Distributions per unit were JPY 2,405, achieving an increase of JPY 34 compared to forecasts, representing distribution growth of approximately 4.5%. The average monthly occupancy rate remained high at 97.6%. Notably, rental rates increased with a turnover rent change rate of +15.6% and a renewal rent change rate of +1.9%.

Financial and Portfolio Status

The total asset LTV was stably managed at 51.3%. Although the weighted average interest rate rose slightly to 0.72% compared to the previous period, the ratio of long-term fixed liabilities remained high at 87.8%. The portfolio is concentrated with 88.9% investment in the 23 wards of Tokyo and 83.2% in single-compact type properties. During the 40th term, two properties were acquired for JPY 2.6 billion and one property was sold for JPY 700 million. Two properties totaling JPY 3.2 billion are planned for acquisition in the 41st term, with proactive strategic asset replacement underway. From a sustainability perspective, 33.9% of buildings have acquired green building certifications, and the GRESB rating achieved 1 Star/Green Star.