Fukuoka REIT Corporation announced its results for the 44th fiscal period, acquiring LogiCity Koga and a silent partnership equity interest and selling Kumamoto East Front Building as part of a portfolio reshuffle.
Fukuoka REIT Corporation announced its results for the 44th fiscal period, the fiscal year ending August 2026. The period-end portfolio comprised 37 properties, with total asset acquisition prices of ¥230.7 billion and an interest-bearing debt ratio of 42.4%. Profit declined year on year after taking into account factors affecting rents, and distributions per investment unit were ¥4,075.
The portfolio was reshuffled during the period. The 2 acquisitions were LogiCity Koga and a silent partnership equity interest, with a combined acquisition price of ¥6.056 billion. The underlying asset of the silent partnership equity interest is Trias, a shopping center in Kasuya District, Fukuoka Prefecture.
The property sold at the same time was Kumamoto East Front Building, for ¥1.509 billion.
For the 45th fiscal period, the fiscal year ending February 2027, the company expects contributions from new properties and the sale of the remaining 16% interest in Tenjin North Front Building. Despite forecasting a 0.8% decline in profit year on year, it expects distributions per investment unit of ¥4,040. For the 46th fiscal period, the company plans to maintain distributions at ¥4,050 despite expectations that gains on sales will disappear. It has raised its previous distribution target from ¥4,000 to ¥4,050 and is targeting ¥4,240 for the fiscal year ending August 2029.