Market Opportunity

We believe that real estate opportunities exist in the Kanto metropolitan area (Tokyo, Kanagawa, Chiba,Saitama, Ibaraki, Tochigi and Gunma prefectures), the Kansai metropolitan area (Osaka, Kyoto, Hyogo, Nara and Shiga prefectures) and the Chukyo metropolitan area (Aichi, Mie and Gifu prefectures), as well as other metropolitan areas such as Sapporo city, Sendai city and Fukuoka city. We intend to focus our investment activities on office and retail properties located in the central areas of the foregoing metropolitan areas and retail properties located in surrounding suburban areas that we believe will benefit from recent trends in Japan, including an improving Japanese economy and the increasing concentration of Japan's population in large metropolitan areas.