marimo Regional Revitalization REIT, Inc.

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marimo Regional Revitalization REIT, Inc.
Executive Director
Takashi Kitagata

Dear Unitholders,

We hope this message finds you well. We would like to express our sincere gratitude for your continued support.

We extend our deepest sympathies to novel coronavirus (COVID-19) patients, and we sincerely hope for their quick recovery.

marimo Regional Revitalization REIT, Inc. (hereinafter, “marimo REIT”) was listed on the Tokyo Stock Exchange Real Estate Investment Trust Market as a diversified REIT with a portfolio of residential, retail, hotel, and office properties (hereinafter, “diversified mix of income-producing real estate”) on July 29, 2016. Recently, marimo REIT successfully ended its 8th fiscal period (ended June 2020). This again was thanks to the support of our unitholders for which we are deeply grateful.

marimo REIT aims to establish a structure serving to create regional societies where people nationwide can live their unique lifestyles pleasantly while being hopeful for their region’s future and enabling anyone to take part in regional revitalization and enjoy the fruits of such revitalization through marimo REIT.

During the 8th fiscal period, marimo REIT conducted a public offering in January 2020, the second since listing. By using the funds procured, marimo REIT newly acquired 6 properties (4,950 million yen) comprised of 3 residential properties and 3 retail facilities (including land ownership interests). Accordingly, marimo REIT’s portfolio has grown steadily to 31 properties amounting to 29,955 million yen. In addition, marimo REIT continued to make efforts from the previous fiscal period to enhance NOI at existing properties by raising rent through value-enhancement work to apply solid wood flooring, increasing rent by newly securing a parking lot on a site vacated after building demolition, and such. As a result, marimo REIT managed to post operating revenue of 1,265 million yen, operating income of 571 million yen, ordinary income of 468 million yen, and net income of 467 million yen for dividends per unit (including dividends in excess of earnings) of 3,494 yen.

The recent impact of COVID-19 on marimo REIT is limited for now as we are responding to requests for deferment of rent payment from some tenants facing a drop in sales.

Although the future trend of the Japanese economy is uncertain, by setting “strengthen Japan from regional areas” as a basic principle, marimo REIT will continue to strive to build a diversified portfolio centering on regional areas and oriented toward securing both “relatively high investment yield” and “stable earnings” as well as steady growth of assets under management and thereby enhance unitholder value over the medium to long term.

We look forward to your continued support and encouragement.

September 2020

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