SaizenREIT: Update on properties. 3 Morioka, 3 Koriyama and 17 out of 22 Sendai appear to have only minor damages and are intact although more detailed assessments will be undertaken. Remaining 5 properties have not been viewed and represent 3.1% of co's NAV contributing 2.3% of annual rental income...
The 3 Koriyama properties are also more than 50km from the nuclear plants and are currently out of the risk zone. Saizen foresees difficulty in finding funding for a loan in default under YK Shintoku holding 40 properties which does not contribute to co’s DPU.
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