trending Market Intelligence /marketintelligence/en/news-insights/trending/sgbjxcjmzg0vp_lgkg421a2 content esgSubNav
In This List

Property companies release damage reports after Japanese earthquake


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Property companies release damage reports after Japanese earthquake

A magnitude-6 earthquake struck the east-central part of Iburi region in Japan's Hokkaido Prefecture at 3:08 a.m. local time Sept. 6, and several property companies with exposure to the area have released damage reports.

* Nippon Healthcare Investment Corp. confirmed that the company's Silver Heights Hitsujigaoka No. 3 property in the area suffered no serious damage from the earthquake. Japan Real Estate Investment Corp. Kenedix Office Investment Corp., Kenedix Retail REIT Corp., Invincible Investment Corp., Japan Excellent Inc., Advance Residence Investment Corp. and Nippon REIT Investment Corp. also separately confirmed that there were no reports of personal injuries or physical damages at company properties.

* Activia Properties Inc. said a power outage occurred in a property the company owns in Sapporo but no injury or damage has been confirmed so far. Industrial & Infrastructure Fund Investment Corp. also stated that there was a power outage in the region and that no critical damage was reported at its IIF Sapporo Logistics Center.

* ORIX JREIT Inc. also said a power failure has been continuing at all five of its properties in Hokkaido, but no fire disaster or human damage has been reported. No property damage has been reported except at intervillage OH! Magari.

* Japan Retail Fund Investment Corp. reported some partial damages at Aeon Mall Spporo Naebo and Aeon Mall Sapporo Hassamu, impacting over-the-counter sales of groceries on the first floors of the supermarkets. AEON REIT Investment Corp. said partial damage was reported at Aeon Mall Tomakomai and Aeon Mall Sapporo-Hiraoka, including escalators and sprinklers malfunctions. There were no reports of damages at Aeon Mall Kushiro-Showa that would have a major impact on operating results.

* Japan Rental Housing Investments Inc. said no serious damage was confirmed at the company's 16 properties in the region as of 2 p.m. the same day. Nomura Real Estate Master Fund also said there were not reports of serious damages to its properties that would impact the company's operating results as of 5 p.m.

* GLP J-REIT said it is conducting an investigation on its properties in the affected area. So far, the company has found no significant damages that may affect its operation.

* Hulic Reit Inc. said it found a partial defect on the mechanical parking facility at its Sapporo Network Center property, but no human damage or significant damage that may affect the company's operations as of Sept.13.