To Our Unitholders
I would like to extend my sincere gratitude for all the courtesies we have received.
On February 13, 2019, ESCON JAPAN REIT Investment Corporation (ESCON REIT) listed its units on Tokyo Stock Exchange Real Estate Investment Trust Market. Since the IPO, we achieved several milestones to enhance unitholders’ value such as obtaining an A- (stable) rating from R&I, concluding a support agreement with Chuden Real Estate (one of the Chubu Electric Power group companies), and realizing internal growth derived from increased earnings and higher occupancy. Thanks to continued support from all of our unitholders and stakeholders, our first public offering was a great success.
ESCON REIT is sponsored by ES-CON JAPAN, a Lifestyle Developer that strives to build ideal housing and lives. By leveraging support from ES-CON JAPAN and Chubu Electric Power group, ESCON REIT aims to capitalize on opportunities to invest in retail properties deep-rooted in local communities and leasehold land (known as sokochi) in order to enrich the lives of people in nearby communities as a joint effort with our sponsors while meeting our investors' expectations.
As Japan is faced with the growing problem of low birthrate and rising life expectancy, we believe that our commercial facilities are essential for people living in local community nationwide not only for retail purposes, but to serve as vital infrastructure to continue supporting their lives of residents.
Going forward, we would appreciate the continued support and guidance of our unitholders and stakeholders.