[caption id="attachment_2604" align="alignright" width="150" caption="Photo by Hythe Eye"][/caption]
A good set of numbers overall for Saizen REIT. The only thorn in its side remains the CMBS for YK Shintoku which it defaulted on late last year.
Key points for me:
1. Saizen REIT's properties are all Freehold and not Leasehold. So, there is no "depreciation" which some investors might be concerned about.
2. Occupancy rates have been consistently above 90% even through the financial crisis which reinforces the idea that demand is relatively inelastic for Saizen REIT's properties. Read more...