{"id":32006,"date":"2026-10-06T11:02:39","date_gmt":"2026-10-06T02:02:39","guid":{"rendered":"https:\/\/official.gfs.tokyo\/blog\/?p=32006"},"modified":"2026-10-06T11:02:39","modified_gmt":"2026-10-06T02:02:39","slug":"ue-getting-started-with-j-reit-investment-glp-j-reit-3281","status":"publish","type":"post","link":"https:\/\/official.gfs.tokyo\/blog\/ue-getting-started-with-j-reit-investment-glp-j-reit-3281","title":{"rendered":"\u3010\u5b8c\u5168\u7248\u3011GLP\u6295\u8cc7\u6cd5\u4eba\uff083281\uff09\u3067\u59cb\u3081\u308bJ-REIT\u6295\u8cc7\uff1a\u69cb\u9020\u30fb\u30e1\u30ea\u30c3\u30c8\u30fb\u91d1\u5229\u30ea\u30b9\u30af\u304b\u3089\u898b\u6975\u3081\u30dd\u30a4\u30f3\u30c8\u307e\u3067\u89e3\u8aac"},"content":{"rendered":"<h2 data-path-to-node=\"0\">\u3010\u5b8c\u5168\u7248\u3011GLP\u6295\u8cc7\u6cd5\u4eba\uff083281\uff09\u3067\u59cb\u3081\u308bJ-REIT\u6295\u8cc7\uff1a\u69cb\u9020\u30fb\u30e1\u30ea\u30c3\u30c8\u30fb\u91d1\u5229\u30ea\u30b9\u30af\u304b\u3089\u898b\u6975\u3081\u30dd\u30a4\u30f3\u30c8\u307e\u3067\u89e3\u8aac<\/h2>\n<p data-path-to-node=\"1\">\u6771\u8a3c\u306b\u4e0a\u5834\u3059\u308bGLP\u6295\u8cc7\u6cd5\u4eba\uff08\u8a3c\u5238\u30b3\u30fc\u30c9\uff1a3281\uff09\u306f\u3001\u5148\u9032\u7684\u7269\u6d41\u65bd\u8a2d\u306b\u7279\u5316\u3057\u305fJ-REIT\uff08\u65e5\u672c\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\uff09\u306e\u6700\u5927\u624b\u9298\u67c4\u306e\u4e00\u3064\u3067\u3059\u3002<\/p>\n<p data-path-to-node=\"2\">\u8fd1\u5e74\u3001\u65e5\u672c\u7d4c\u6e08\u306f\u9577\u671f\u306b\u308f\u305f\u3063\u305f\u30c7\u30d5\u30ec\u3068\u8d85\u4f4e\u91d1\u5229\u653f\u7b56\u304b\u3089\u8131\u5374\u3057\u3001\u300c\u30a4\u30f3\u30d5\u30ec\u300d\u3068\u300c\u91d1\u5229\u306e\u3042\u308b\u4e16\u754c\u300d\u3078\u3068\u30b7\u30d5\u30c8\u3057\u307e\u3057\u305f\u3002\u3053\u3046\u3057\u305f\u74b0\u5883\u5909\u5316\u306e\u4e2d\u3067\u3001\u5b9f\u7269\u4e0d\u52d5\u7523\u3092\u88cf\u4ed8\u3051\u3068\u3059\u308bJ-REIT\u3001\u7279\u306b\u793e\u4f1a\u30a4\u30f3\u30d5\u30e9\u3068\u3057\u3066\u4e0d\u53ef\u6b20\u306a\u300c\u7269\u6d41\u4e0d\u52d5\u7523\u300d\u3078\u3069\u306e\u3088\u3046\u306b\u6295\u8cc7\u3059\u3079\u304d\u304b\u60a9\u3080\u6295\u8cc7\u5bb6\u3082\u5c11\u306a\u304f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n<p data-path-to-node=\"3\">\u672c\u8a18\u4e8b\u3067\u306f\u3001\u521d\u5fc3\u8005\u306e\u65b9\u3067\u3082\u91d1\u878d\u306e\u4ed5\u7d44\u307f\u3092\u57fa\u790e\u304b\u3089\u672c\u8cea\u7684\u306b\u7406\u89e3\u3067\u304d\u308b\u3088\u3046\u3001<b data-path-to-node=\"3\" data-index-in-node=\"36\">J-REIT\u306e\u69cb\u9020\u3001GLP\u6295\u8cc7\u6cd5\u4eba\u306e\u5f37\u307f\u3068\u30ea\u30b9\u30af\u3001\u91d1\u5229\u4e0a\u6607\u5c40\u9762\u306b\u304a\u3051\u308b\u8010\u6027\u306e\u898b\u6975\u3081\u65b9\u3001\u3055\u3089\u306b\u306f\u300c\u30aa\u30d5\u30a3\u30b9\u30ea\u30fc\u30c8\u300d\u3084\u300c\u4f4f\u5b85\u30ea\u30fc\u30c8\u300d\u3068\u306e\u7279\u6027\u6bd4\u8f03<\/b>\u307e\u3067\u3001\u4f53\u7cfb\u7684\u304b\u3064\u7db2\u7f85\u7684\u306b\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n<div>\n<div class=\"attention a-1\">\n<p style=\"text-align: left;\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa.jpg\" alt=\"\u76e3\u4fee\u8005\uff1a\u5e02\u5ddd\u96c4\u4e00\u90ce\" width=\"110\" height=\"110\" class=\"wp-image-2102 alignnone\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa.jpg 700w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa-300x300.jpg 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa-150x150.jpg 150w\" sizes=\"(max-width: 110px) 100vw, 110px\" \/>\u3000<strong>\u76e3\u4fee\u8005\uff1a\u5e02\u5ddd\u96c4\u4e00\u90ce\u3000<\/strong><br \/>\n<span style=\"font-size: 10pt;\"><a href=\"https:\/\/official.gfs.tokyo\/\">GFS<\/a>\u6821\u9577\u3002CFP\u00ae\u30021\u7d1a\u30d5\u30a1\u30a4\u30ca\u30f3\u30b7\u30e3\u30eb\u30fb\u30d7\u30e9\u30f3\u30cb\u30f3\u30b0\u6280\u80fd\u58eb(\u8cc7\u7523\u8a2d\u8a08\u63d0\u6848\u696d\u52d9)\u3002<a href=\"https:\/\/www.jafp.or.jp\/\">\u65e5\u672cFP\u5354\u4f1a<\/a>\u4f1a\u54e1\u3002\u65e5\u672cFP\u5b66\u4f1a\u4f1a\u54e1\u3002\u00a0<a href=\"https:\/\/mba.globis.ac.jp\/\">\u30b0\u30ed\u30fc\u30d3\u30b9\u7d4c\u55b6\u5927\u5b66\u9662<\/a>\u4fee\u4e86(MBA\/\u7d4c\u55b6\u5b66\u4fee\u58eb)\u3002<\/span><br \/>\n<span style=\"font-size: 10pt;\">\u65e5\u672c\u306eFP\u306e\u5148\u99c6\u8005\u3068\u3057\u3066\u8cc7\u7523\u904b\u7528\u306e\u5553\u8499\u306b\u5f93\u4e8b\u3002\u30bd\u30d5\u30c8\u30d0\u30f3\u30af\u30b0\u30eb\u30fc\u30d7\u304c\u5275\u8a2d\u3057\u305f\u79c1\u7acb<a href=\"https:\/\/www.cyber-u.ac.jp\/teacher\/ichikawa_yuichiro.html\">\u30b5\u30a4\u30d0\u30fc\u5927\u5b66<\/a>\u3067\u6559\u97ad\u3092\u57f7\u308b\u307b\u304b\u3001\u8b1b\u6f14\u4f9d\u983c\u3001\u30e1\u30c7\u30a3\u30a2\u51fa\u6f14\u3082\u591a\u6570\u3002\u8457\u66f8\u306b<a href=\"https:\/\/www.amazon.co.jp\/%E6%8A%95%E8%B3%87%E3%81%A7%E5%88%A9%E7%9B%8A%E3%82%92%E5%87%BA%E3%81%97%E3%81%A6%E3%81%84%E3%82%8B%E4%BA%BA%E3%81%9F%E3%81%A1%E3%81%8C%E5%A4%A7%E4%BA%8B%E3%81%AB%E3%81%97%E3%81%A6%E3%81%84%E3%82%8B-45%E3%81%AE%E6%95%99%E3%81%88-%E5%B8%82%E5%B7%9D-%E9%9B%84%E4%B8%80%E9%83%8E\/dp\/4532358825\">\u300c\u6295\u8cc7\u3067\u5229\u76ca\u3092\u51fa\u3057\u3066\u3044\u308b\u4eba\u305f\u3061\u304c\u5927\u4e8b\u306b\u3057\u3066\u3044\u308b 45\u306e\u6559\u3048\u300d\uff08\u65e5\u672c\u7d4c\u6e08\u65b0\u805e\u51fa\u7248\uff09<\/a><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 10pt;\">\u516c\u5f0fX \u30a2\u30ab\u30a6\u30f3\u30c8\u3000<a href=\"https:\/\/twitter.com\/ichikawa_toushi\">\u5e02\u5ddd\u96c4\u4e00\u90ce@\u304a\u91d1\u306e\u5b66\u6821 \u6821\u9577<\/a><\/span><\/p>\n<\/div>\n<\/div>\n<h1 data-path-to-node=\"5\">\u7b2c1\u7ae0\uff1aJ-REIT\u3068\u5148\u9032\u7684\u7269\u6d41\u65bd\u8a2d\u306e\u57fa\u672c\u69cb\u9020<\/h1>\n<p data-path-to-node=\"6\">\u500b\u5225\u306e\u9298\u67c4\u3067\u3042\u308b\u300cGLP\u6295\u8cc7\u6cd5\u4eba\u300d\u3092\u6b63\u3057\u304f\u5206\u6790\u3059\u308b\u305f\u3081\u306b\u306f\u3001\u307e\u305a\u305d\u306e\u57fa\u76e4\u3068\u306a\u308b<b data-path-to-node=\"6\" data-index-in-node=\"39\">J-REIT<\/b>\u306e\u4ed5\u7d44\u307f\u3068\u3001\u6295\u8cc7\u5bfe\u8c61\u3067\u3042\u308b<b data-path-to-node=\"6\" data-index-in-node=\"58\">\u7269\u6d41\u4e0d\u52d5\u7523<\/b>\u306e\u7279\u6027\u3092\u6574\u7406\u3057\u3066\u304a\u304f\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"0\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c70665899=\"\" class=\"ng-tns-c70665899-4121 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c70665899=\"\" class=\"code-block ng-tns-c70665899-4121 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl9jNzg4NzQ2NjYyMzRmZDE2IiwiY183OWQzMjQwYWU3ZGIxMzI5IixudWxsLCJyY182OWY1ODY2Yzg2YjNmYzUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c70665899=\"\" class=\"formatted-code-block-internal-container ng-tns-c70665899-4121\">\n<div _ngcontent-ng-c70665899=\"\" class=\"animated-opacity ng-tns-c70665899-4121\">\n<pre _ngcontent-ng-c70665899=\"\" class=\"ng-tns-c70665899-4121\"><code _ngcontent-ng-c70665899=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c70665899-4121 no-decoration-radius\">\u3010\u6295\u8cc7\u306e\u5168\u4f53\u69cb\u9020\u3011\r\n[\u500b\u4eba\u30fb\u6cd5\u4eba\u6295\u8cc7\u5bb6]\r\n       \u2502 \uff08\u8cc7\u91d1\u51fa\u8cc7\u30fb\u6295\u8cc7\u53e3\u8cfc\u5165\uff09\r\n       \u25bc\r\n[J-REIT\uff08\u4e0d\u52d5\u7523\u6295\u8cc7\u6cd5\u4eba\uff09] \u2500\u2500(\u8cc7\u91d1\u8abf\u9054\uff1a\u501f\u5165\u30fb\u5897\u8cc7)\r\n       \u2502\r\n       \u2502 \uff08\u7269\u4ef6\u8cfc\u5165\u30fb\u904b\u7528\u7ba1\u7406\uff09\r\n       \u25bc\r\n[\u5b9f\u7269\u4e0d\u52d5\u7523\uff08\u5148\u9032\u7684\u7269\u6d41\u65bd\u8a2d\u7b49\uff09]\r\n       \u2502\r\n       \u251c\u2500&gt; \u30c6\u30ca\u30f3\u30c8\u4f01\u696d\uff083PL\u30fbEC\u7b49\uff09\u304b\u3089\u300c\u8cc3\u6599\u53ce\u5165\u300d\u3092\u78ba\u4fdd\r\n       \u2514\u2500&gt; \u5f97\u3089\u308c\u305f\u5229\u76ca\u306e90%\u8d85\u3092\u300c\u5206\u914d\u91d1\u300d\u3068\u3057\u3066\u6295\u8cc7\u5bb6\u3078\u9084\u5143\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h2 data-path-to-node=\"8\">1. J-REIT\uff08\u65e5\u672c\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\uff09\u306e\u4ed5\u7d44\u307f<\/h2>\n<p data-path-to-node=\"9\">J-REIT\uff08Japan Real Estate Investment Trust\uff09\u306f\u3001\u591a\u6570\u306e\u6295\u8cc7\u5bb6\u304b\u3089\u96c6\u3081\u305f\u8cc7\u91d1\u3068\u91d1\u878d\u6a5f\u95a2\u304b\u3089\u306e\u501f\u5165\u91d1\u3092\u5143\u624b\u306b\u3001\u8907\u6570\u306e\u5b9f\u7269\u4e0d\u52d5\u7523\uff08\u30aa\u30d5\u30a3\u30b9\u3001\u4f4f\u5b85\u3001\u5546\u696d\u65bd\u8a2d\u3001\u7269\u6d41\u65bd\u8a2d\u3001\u30db\u30c6\u30eb\u306a\u3069\uff09\u3092\u53d6\u5f97\u3057\u3001\u305d\u3053\u304b\u3089\u5f97\u3089\u308c\u308b<b data-path-to-node=\"9\" data-index-in-node=\"119\">\u8cc3\u6599\u53ce\u5165<\/b>\u3084<b data-path-to-node=\"9\" data-index-in-node=\"124\">\u58f2\u5374\u76ca<\/b>\u3092\u6295\u8cc7\u5bb6\u306b\u300c\u5206\u914d\u91d1\u300d\u3068\u3057\u3066\u914d\u5f53\u3059\u308b\u91d1\u878d\u5546\u54c1\u3067\u3059\u3002<\/p>\n<h3 data-path-to-node=\"10\">\u306a\u305c\u682a\u5f0f\u3088\u308a\u3082\u9ad8\u3044\u5229\u56de\u308a\u304c\u5b9f\u73fe\u3067\u304d\u308b\u306e\u304b\uff1f<\/h3>\n<p data-path-to-node=\"11\">\u4e00\u822c\u7684\u306a\u4e0a\u5834\u4f01\u696d\uff08\u682a\u5f0f\uff09\u306f\u3001\u5f97\u3089\u308c\u305f\u5229\u76ca\u306b\u5bfe\u3057\u3066\u6cd5\u4eba\u7a0e\uff08\u5b9f\u52b9\u7a0e\u7387\u7d0430%\uff09\u304c\u8ab2\u3055\u308c\u305f\u5f8c\u306e\u300c\u5f53\u671f\u7d14\u5229\u76ca\u300d\u304b\u3089\u682a\u4e3b\u3078\u914d\u5f53\u3092\u652f\u6255\u3044\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"12\">\u4e00\u65b9\u3067J-REIT\u306f\u3001\u79df\u7a0e\u7279\u5225\u63aa\u7f6e\u6cd5\u306b\u57fa\u3065\u304d\u300c\u5f53\u671f\u5229\u76ca\u306e90%\u8d85\u3092\u5206\u914d\u91d1\u3068\u3057\u3066\u652f\u6255\u3046\u306a\u3069\u306e\u6761\u4ef6\u3092\u6e80\u305f\u305b\u3070\u3001\u6cd5\u4eba\u7a0e\u304c\u5b9f\u8cea\u7684\u306b\u514d\u9664\uff08\u640d\u91d1\u7b97\u5165\uff09\u3055\u308c\u308b\u300d\u3068\u3044\u3046\u7279\u5225\u306a\u7a0e\u5236\u512a\u9047\u3092\u53d7\u3051\u3066\u3044\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"12\">\u305d\u306e\u305f\u3081\u3001\u4e0d\u52d5\u7523\u304b\u3089\u751f\u307f\u51fa\u3055\u308c\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u5927\u90e8\u5206\u304c\u305d\u306e\u307e\u307e\u6295\u8cc7\u5bb6\u306b\u9084\u5143\u3055\u308c\u3001\u682a\u5f0f\u6295\u8cc7\u306e\u5e73\u5747\u914d\u5f53\u5229\u56de\u308a\uff081.5%\u301c2.5%\u7a0b\u5ea6\uff09\u3068\u6bd4\u8f03\u3057\u3066\u9ad8\u3044\u5206\u914d\u91d1\u5229\u56de\u308a\uff084%\u301c5%\u53f0\uff09\u3092\u5b9f\u73fe\u3057\u3084\u3059\u3044\u69cb\u9020\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"13\">2. \u4f1d\u7d71\u7684\u5009\u5eab\u304b\u3089\u300c\u5148\u9032\u7684\u7269\u6d41\u65bd\u8a2d\u300d\u3078\u306e\u9032\u5316<\/h2>\n<p data-path-to-node=\"14\">\u300c\u7269\u6d41\u65bd\u8a2d\u300d\u3068\u805e\u304f\u3068\u3001\u6e2f\u6e7e\u8fd1\u304f\u306b\u3042\u308b\u53e4\u304f\u6697\u3044\u5e73\u5c4b\u5efa\u3066\u306e\u5009\u5eab\u3092\u30a4\u30e1\u30fc\u30b8\u3059\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002\u3057\u304b\u3057\u3001\u73fe\u4ee3\u306eJ-REIT\u304c\u6295\u8cc7\u5bfe\u8c61\u3068\u3059\u308b\u306e\u306f\u300c\u5148\u9032\u7684\u7269\u6d41\u65bd\u8a2d\uff08\u30e2\u30c0\u30f3\u30fb\u30ed\u30b8\u30b9\u30c6\u30a3\u30af\u30b9\u30fb\u30d5\u30a1\u30b7\u30ea\u30c6\u30a3\uff09\u300d\u3068\u547c\u3070\u308c\u308b\u5de8\u5927\u306a\u9ad8\u6a5f\u80fd\u30a4\u30f3\u30d5\u30e9\u65bd\u8a2d\u3067\u3059\u3002<\/p>\n<ul data-path-to-node=\"15\">\n<li>\n<p data-path-to-node=\"15,0,0\"><b data-path-to-node=\"15,0,0\" data-index-in-node=\"0\">\u5927\u578b\u30e9\u30f3\u30d7\u30a6\u30a7\u30a4\u69cb\u9020<\/b>: \u5927\u578b\u30c8\u30e9\u30c3\u30af\u304c\u76f4\u63a5\u4e0a\u5c64\u968e\uff083\u301c5\u968e\u306a\u3069\uff09\u307e\u3067\u8d70\u308a\u4e0a\u304c\u308c\u308b\u30b9\u30ed\u30fc\u30d7\u3092\u5b8c\u5099\u3057\u3001\u968e\u5c64\u3054\u3068\u306e\u30b9\u30d4\u30fc\u30c7\u30a3\u30fc\u306a\u8377\u63da\u3052\u3092\u5b9f\u73fe\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"15,1,0\"><b data-path-to-node=\"15,1,0\" data-index-in-node=\"0\">\u30de\u30eb\u30c1\u30c6\u30ca\u30f3\u30c8\u5bfe\u5fdc<\/b>: \u5e83\u5927\u306a\u5e8a\u9762\u7a4d\uff08\u5ef6\u5e8a\u9762\u7a4d\u6570\u4e07\u301c\u6570\u5341\u4e07\u5e73\u65b9\u30e1\u30fc\u30c8\u30eb\uff09\u3092\u6301\u3061\u3001\u8907\u6570\u306e\u30c6\u30ca\u30f3\u30c8\u4f01\u696d\u304c\u533a\u753b\u3054\u3068\u306b\u540c\u6642\u5165\u5c45\u53ef\u80fd\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"15,2,0\"><b data-path-to-node=\"15,2,0\" data-index-in-node=\"0\">\u5f93\u696d\u54e1\u306e\u78ba\u4fdd\u3068\u5feb\u9069\u6027<\/b>: \u5730\u7406\u7684\u306b\u4ea4\u901a\u5229\u4fbf\u6027\u304c\u9ad8\u3044\u7acb\u5730\u306b\u3042\u308a\u3001\u65bd\u8a2d\u5185\u306b\u30ab\u30d5\u30a7\u30c6\u30ea\u30a2\u3001\u58f2\u5e97\u3001\u8a17\u5150\u6240\u3001\u30b7\u30e3\u30ef\u30fc\u30eb\u30fc\u30e0\u306a\u3069\u3092\u5099\u3048\u3066\u52b4\u50cd\u529b\u3092\u96c6\u3081\u3084\u3059\u3044\u8a2d\u8a08\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"15,3,0\"><b data-path-to-node=\"15,3,0\" data-index-in-node=\"0\">BCP\uff08\u4e8b\u696d\u7d99\u7d9a\u8a08\u753b\uff09\u5bfe\u5fdc<\/b>: \u514d\u9707\u30fb\u5236\u9707\u69cb\u9020\u3001\u975e\u5e38\u7528\u81ea\u4e3b\u767a\u96fb\u8a2d\u5099\u3001\u9632\u707d\u5099\u84c4\u5eab\u3092\u5099\u3048\u3001\u5730\u9707\u3084\u53f0\u98a8\u306a\u3069\u306e\u707d\u5bb3\u6642\u306b\u3082\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u3092\u6b62\u3081\u306a\u3044\u4ed5\u69d8\u3002<\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"16\">EC\uff08\u96fb\u5b50\u5546\u53d6\u5f15\uff09\u5e02\u5834\u306e\u62e1\u5927\u3084\u3001\u7269\u6d41\u696d\u754c\u306b\u304a\u3051\u308b\u52b9\u7387\u5316\uff083PL\uff1a\u30b5\u30fc\u30c9\u30d1\u30fc\u30c6\u30a3\u30fb\u30ed\u30b8\u30b9\u30c6\u30a3\u30af\u30b9\u4e8b\u696d\u306e\u666e\u53ca\uff09\u306b\u3088\u308a\u3001\u3053\u3046\u3057\u305f\u9ad8\u6a5f\u80fd\u306a\u7269\u6d41\u65bd\u8a2d\u3078\u306e\u9700\u8981\u306f\u9577\u671f\u7684\u306b\u53f3\u80a9\u4e0a\u304c\u308a\u3067\u63a8\u79fb\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<h1 data-path-to-node=\"18\">\u7b2c2\u7ae0\uff1aGLP\u6295\u8cc7\u6cd5\u4eba\uff083281\uff09\u306e\u6982\u8981\u3068\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u69cb\u9020<\/h1>\n<p data-path-to-node=\"19\">GLP\u6295\u8cc7\u6cd5\u4eba\u306f\u3001\u6771\u8a3cJ-REIT\u5e02\u5834\u306b\u304a\u3044\u3066\u7269\u6d41\u7279\u5316\u578b\u30ea\u30fc\u30c8\u306e\u30d1\u30a4\u30aa\u30cb\u30a2\u3068\u3057\u30662012\u5e7412\u6708\u306b\u4e0a\u5834\u3057\u307e\u3057\u305f\u3002<\/p>\n<h2 data-path-to-node=\"20\">1. GLP\u6295\u8cc7\u6cd5\u4eba\u306e\u57fa\u672c\u30b9\u30da\u30c3\u30af\u3068\u7279\u5fb4<\/h2>\n<ul data-path-to-node=\"21\">\n<li>\n<p data-path-to-node=\"21,0,0\"><b data-path-to-node=\"21,0,0\" data-index-in-node=\"0\">\u8a3c\u5238\u30b3\u30fc\u30c9<\/b>: 3281<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"21,1,0\"><b data-path-to-node=\"21,1,0\" data-index-in-node=\"0\">\u4e0a\u5834\u6642\u671f<\/b>: 2012\u5e7412\u6708<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"21,2,0\"><b data-path-to-node=\"21,2,0\" data-index-in-node=\"0\">\u8cc7\u7523\u898f\u6a21\uff08\u53d6\u5f97\u4fa1\u683c\u30d9\u30fc\u30b9\uff09<\/b>: \u7d048,000\u5104\u5186\u8d85\uff08\u696d\u754c\u30c8\u30c3\u30d7\u30af\u30e9\u30b9\uff09<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"21,3,0\"><b data-path-to-node=\"21,3,0\" data-index-in-node=\"0\">\u4fdd\u6709\u7269\u4ef6\u6570<\/b>: \u5168\u56fd90\u7269\u4ef6\u4ee5\u4e0a<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"21,4,0\"><b data-path-to-node=\"21,4,0\" data-index-in-node=\"0\">\u30b9\u30dd\u30f3\u30b5\u30fc<\/b>: \u65e5\u672cGLP\u30b0\u30eb\u30fc\u30d7\uff08\u30b0\u30ed\u30fc\u30d0\u30eb\u7269\u6d41\u4e0d\u52d5\u7523\u958b\u767a\u30fb\u904b\u55b6\u5927\u624b\u300cGLP\u300d\u306e\u65e5\u672c\u6cd5\u4eba\uff09<\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"22\">J-REIT\u5168\u9298\u67c4\u306e\u4e2d\u3067\u3082\u6700\u5927\u7d1a\u306e\u6642\u4fa1\u7dcf\u984d\u3068\u8cc7\u7523\u898f\u6a21\u3092\u8a87\u308a\u3001\u6d77\u5916\u6295\u8cc7\u5bb6\u304b\u3089\u306e\u77e5\u540d\u5ea6\u3084\u5e02\u5834\u3067\u306e\u58f2\u8cb7\u306e\u3057\u3084\u3059\u3055\uff08\u6d41\u52d5\u6027\uff09\u3082\u30c8\u30c3\u30d7\u30ec\u30d9\u30eb\u306b\u3042\u308a\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"23\">2. \u30b9\u30dd\u30f3\u30b5\u30fc\u300c\u65e5\u672cGLP\u300d\u306e\u30d1\u30a4\u30d7\u30e9\u30a4\u30f3\uff08\u4f9b\u7d66\u529b\uff09<\/h2>\n<p data-path-to-node=\"24\">J-REIT\u306e\u6210\u9577\u6027\u3092\u5927\u304d\u304f\u5de6\u53f3\u3059\u308b\u306e\u304c\u300c\u30b9\u30dd\u30f3\u30b5\u30fc\uff08\u89aa\u4f1a\u793e\u30fb\u6bcd\u4f53\u4f01\u696d\uff09\u300d\u306e\u5b58\u5728\u3067\u3059\u3002<\/p>\n<p data-path-to-node=\"24\">\u65e5\u672cGLP\u30b0\u30eb\u30fc\u30d7\u306f\u3001\u571f\u5730\u306e\u9078\u5b9a\u304b\u3089\u5efa\u8a2d\u3001\u30c6\u30ca\u30f3\u30c8\u8a98\u81f4\u3001\u65bd\u8a2d\u7ba1\u7406\u307e\u3067\u3092\u81ea\u793e\u3067\u4e00\u8cab\u3057\u3066\u884c\u3046\u7269\u6d41\u4e0d\u52d5\u7523\u306e\u6700\u5927\u624b\u3067\u3059\u3002<\/p>\n<p data-path-to-node=\"25\">GLP\u6295\u8cc7\u6cd5\u4eba\u306f\u3001\u30b9\u30dd\u30f3\u30b5\u30fc\u304c\u958b\u767a\u3057\u305f\u9ad8\u54c1\u8cea\u306a\u7269\u4ef6\u3092\u512a\u5148\u7684\u306b\u8cb7\u3044\u53d6\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u300c\u512a\u5148\u4ea4\u6e09\u6a29\uff08\u30d1\u30a4\u30d7\u30e9\u30a4\u30f3\uff09\u300d\u3092\u6709\u3057\u3066\u3044\u307e\u3059\u3002\u4ee3\u8868\u4f8b\u3068\u3057\u3066\u3001\u5e83\u5927\u306a\u6577\u5730\u306b\u8907\u6570\u306e\u5148\u9032\u7684\u7269\u6d41\u65bd\u8a2d\u3084\u5730\u57df\u5171\u751f\u30b9\u30da\u30fc\u30b9\u3092\u914d\u7f6e\u3057\u305f\u5de8\u5927\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u300cALFALINK\uff08\u30a2\u30eb\u30d5\u30a1\u30ea\u30f3\u30af\uff09\u300d\u30b7\u30ea\u30fc\u30ba\u306a\u3069\u304c\u6319\u3052\u3089\u308c\u307e\u3059\u3002\u3053\u306e\u30d1\u30a4\u30d7\u30e9\u30a4\u30f3\u304c\u5b58\u5728\u3059\u308b\u3053\u3068\u3067\u3001\u4ed6\u793e\u3068\u306e\u6fc0\u3057\u3044\u8cb7\u53ce\u7af6\u5408\u306b\u5dfb\u304d\u8fbc\u307e\u308c\u308b\u3053\u3068\u306a\u304f\u3001\u826f\u597d\u306a\u5229\u56de\u308a\u306e\u512a\u826f\u8cc7\u7523\u3092\u7740\u5897\u3057\uff08\u5916\u90e8\u6210\u9577\uff09\u3067\u304d\u308b\u5f37\u307f\u3092\u6301\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"26\">3. \u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u5206\u6563\u6226\u7565<\/h2>\n<p data-path-to-node=\"27\">\u7279\u5b9a\u306e\u5730\u57df\u3084\u4e00\u793e\u3060\u3051\u306e\u30c6\u30ca\u30f3\u30c8\u306b\u4f9d\u5b58\u3059\u308b\u904b\u7528\u306f\u3001\u81ea\u7136\u707d\u5bb3\u3084\u4f01\u696d\u306e\u7d4c\u55b6\u7834\u7dbb\u306b\u3088\u308b\u30ea\u30b9\u30af\u304c\u96c6\u4e2d\u3057\u307e\u3059\u3002GLP\u6295\u8cc7\u6cd5\u4eba\u306f\u9ad8\u5ea6\u306a\u5206\u6563\u6295\u8cc7\u306b\u3088\u3063\u3066\u3053\u308c\u3092\u56de\u907f\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<table data-path-to-node=\"28\">\n<thead>\n<tr>\n<td><strong>\u5206\u6563\u306e\u8ef8<\/strong><\/td>\n<td><strong>\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u69cb\u6210\u7279\u5fb4<\/strong><\/td>\n<td><strong>\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306e\u30ea\u30b9\u30af\u4f4e\u6e1b\u52b9\u679c<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span data-path-to-node=\"28,1,0,0\"><b data-path-to-node=\"28,1,0,0\" data-index-in-node=\"0\">\u5730\u57df\u5206\u6563<\/b><\/span><\/td>\n<td><span data-path-to-node=\"28,1,1,0\">\u95a2\u6771\u570f\u30fb\u95a2\u897f\u570f\u306e\u4e8c\u5927\u90fd\u5e02\u570f\u3092\u4e2d\u5fc3\u306b\u3001\u4e2d\u90e8\u30fb\u4e5d\u5dde\u30fb\u6771\u5317\u30fb\u4e2d\u56fd\u570f\u3078\u914d\u7f6e<\/span><\/td>\n<td><span data-path-to-node=\"28,1,2,0\">\u5c40\u5730\u7684\u306a\u5927\u5730\u9707\u3084\u53f0\u98a8\u306b\u3088\u308b\u88ab\u5bb3\u30ea\u30b9\u30af\u3092\u5206\u6563<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"28,2,0,0\"><b data-path-to-node=\"28,2,0,0\" data-index-in-node=\"0\">\u65bd\u8a2d\u30bf\u30a4\u30d7\u5206\u6563<\/b><\/span><\/td>\n<td><span data-path-to-node=\"28,2,1,0\">\u300c\u30de\u30eb\u30c1\u30c6\u30ca\u30f3\u30c8\u578b\uff08\u8907\u6570\u4f01\u696d\u5411\u3051\uff09\u300d\u3068\u300cBTS\u578b\uff081\u793e\u5c02\u7528\u8a2d\u8a08\uff09\u300d\u3092\u30d0\u30e9\u30f3\u30b9\u914d\u5408<\/span><\/td>\n<td><span data-path-to-node=\"28,2,2,0\">\u53ce\u76ca\u306e\u6210\u9577\u6027\uff08\u30de\u30eb\u30c1\uff09\u3068\u9577\u671f\u5b89\u5b9a\u6027\uff08BTS\uff09\u3092\u4e21\u7acb<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"28,3,0,0\"><b data-path-to-node=\"28,3,0,0\" data-index-in-node=\"0\">\u30c6\u30ca\u30f3\u30c8\u5206\u6563<\/b><\/span><\/td>\n<td><span data-path-to-node=\"28,3,1,0\">\u5927\u624b3PL\u696d\u8005\u3001\u5927\u624bEC\u4e8b\u696d\u8005\u3001\u88fd\u9020\u696d\u30fb\u65e5\u7528\u54c1\u30e1\u30fc\u30ab\u30fc\u306a\u3069\u5e45\u5e83\u304f\u69cb\u6210<\/span><\/td>\n<td><span data-path-to-node=\"28,3,2,0\">\u7279\u5b9a\u4f01\u696d\u306e\u9000\u53bb\u306b\u3088\u308b\u53ce\u5165\u6025\u6e1b\u30ea\u30b9\u30af\u3092\u9632\u6b62<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h1 data-path-to-node=\"30\"><\/h1>\n<div class=\"xcd-attention-6 xcd-col5 xcd-ripple\">\n<div class=\"xcd-title-wrap\">\n<div class=\"xcd-title\"><span>\u3042\u306a\u305f\u306b\u672c\u5f53\u306b\u9069\u3057\u305f\u6295\u8cc7\u306f\u3069\u308c\uff1f<\/span><\/div>\n<\/div>\n<div class=\"xcd-content\">\n<p><span style=\"font-size: 12pt;\"><strong>\u30fb\u6295\u8cc7\u3067\u53ce\u5165\u3092\u5f97\u305f\u3044\u3001\u8cc7\u7523\u3092\u5897\u3084\u3057\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u30ea\u30b9\u30af\u306f\u3067\u304d\u308b\u3060\u3051\u6291\u3048\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u6295\u8cc7\u5148\u306e\u898b\u6975\u3081\u65b9\u3092\u77e5\u308a\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u6210\u529f\u3057\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u3068\u63a5\u70b9\u304c\u6b32\u3057\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u7269\u4fa1\u4e0a\u6607\u3078\u306e\u5bfe\u7b56\u306b\u306f\u6295\u8cc7\u304c\u5fc5\u8981\u3068\u8003\u3048\u3066\u3044\u308b\u3000YES or NO<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\"><strong>\u2192\u3000YES\u304c\uff13\u3064\u4ee5\u4e0a\u3060\u3063\u305f\u65b9\u306f\u3001\u3053\u3061\u3089\u3092\u30af\u30ea\u30c3\u30af<\/strong><\/a><\/span><\/p>\n<\/div>\n<\/div>\n<h1 data-path-to-node=\"30\">\u7b2c3\u7ae0\uff1aGLP\u6295\u8cc7\u6cd5\u4eba\u3078\u6295\u8cc7\u3059\u308b5\u3064\u306e\u30e1\u30ea\u30c3\u30c8<\/h1>\n<p data-path-to-node=\"31\">\u6295\u8cc7\u5bb6\u304c\u81ea\u8eab\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306bGLP\u6295\u8cc7\u6cd5\u4eba\u3092\u7d44\u307f\u8fbc\u3080\u5177\u4f53\u7684\u306a\u30e1\u30ea\u30c3\u30c8\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"32\">1. \u5b89\u5b9a\u3057\u305f\u30a4\u30f3\u30ab\u30e0\u30b2\u30a4\u30f3\uff08\u5206\u914d\u91d1\u5229\u56de\u308a\uff09<\/h2>\n<p data-path-to-node=\"33\">\u6295\u8cc7\u53e3\u4fa1\u683c\u306e\u5909\u52d5\u306b\u3088\u308a\u5229\u56de\u308a\u306f\u4e0a\u4e0b\u3057\u307e\u3059\u304c\u3001\u5e74\u95934.5%\u301c5.5%\u524d\u5f8c\u306e\u76f8\u5bfe\u7684\u306b\u9ad8\u3044\u5206\u914d\u91d1\u5229\u56de\u308a\u3092\u671f\u5f85\u3067\u304d\u307e\u3059\u3002\u682a\u5f0f\u306e\u914d\u5f53\u91d1\u3068\u6bd4\u3079\u3066\u4e0d\u52d5\u7523\u306e\u8cc3\u6599\u53ce\u5165\u304c\u30d9\u30fc\u30b9\u3068\u306a\u3063\u3066\u3044\u308b\u305f\u3081\u3001\u4f01\u696d\u306e\u696d\u7e3e\u4e0d\u632f\u306b\u3088\u308b\u7a81\u7136\u306e\u5927\u5e45\u6e1b\u914d\u30ea\u30b9\u30af\u304c\u4f4e\u3044\u70b9\u304c\u7279\u5fb4\u3067\u3059\u3002<\/p>\n<h2 data-path-to-node=\"34\">2. \u9577\u671f\u56fa\u5b9a\u5951\u7d04\u304c\u3082\u305f\u3089\u3059\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u4e88\u6e2c\u53ef\u80fd\u6027<\/h2>\n<p data-path-to-node=\"35\">\u30aa\u30d5\u30a3\u30b9\u30d3\u30eb\uff08\u5951\u7d04\u671f\u95932\u5e74\u7a0b\u5ea6\uff09\u3084\u4f4f\u5b85\u3068\u7570\u306a\u308a\u3001\u5927\u578b\u7269\u6d41\u65bd\u8a2d\u3067\u306f\u30c6\u30ca\u30f3\u30c8\u4f01\u696d\u304c<b data-path-to-node=\"35\" data-index-in-node=\"39\">5\u5e74\u301c10\u5e74\u4ee5\u4e0a\u306e\u9577\u671f\u5b9a\u671f\u501f\u5bb6\u5951\u7d04<\/b>\u3092\u7d50\u3076\u306e\u304c\u4e00\u822c\u7684\u3067\u3059\u3002<\/p>\n<p data-path-to-node=\"35\">\u30de\u30c6\u30cf\u30f3\u6a5f\u5668\uff08\u81ea\u52d5\u642c\u9001\u6a5f\u5668\u3084\u30e9\u30c3\u30af\uff09\u306e\u5c0e\u5165\u306b\u81a8\u5927\u306a\u8a2d\u5099\u6295\u8cc7\u3092\u884c\u3046\u30c6\u30ca\u30f3\u30c8\u304c\u591a\u304f\u3001\u4e00\u5ea6\u5165\u5c45\u3059\u308b\u3068\u7c21\u5358\u306b\u9000\u53bb\u3067\u304d\u307e\u305b\u3093\u3002\u3053\u306e\u305f\u3081\u3001\u666f\u6c17\u5909\u52d5\u306b\u5de6\u53f3\u3055\u308c\u306b\u304f\u3044\u975e\u5e38\u306b\u5b89\u5b9a\u3057\u305f\u8cc3\u6599\u53ce\u5165\u304c\u9577\u671f\u9593\u4fdd\u305f\u308c\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"36\">3. \u30b9\u30dd\u30f3\u30b5\u30fc\u529b\u3092\u80cc\u666f\u3068\u3057\u305f\u5916\u90e8\u6210\u9577\u306e\u7d99\u7d9a\u6027<\/h2>\n<p data-path-to-node=\"37\">\u65b0\u3057\u304f\u958b\u767a\u3055\u308c\u305f\u9ad8\u6a5f\u80fd\u65bd\u8a2d\u3092\u5b9a\u671f\u7684\u306b\u53d6\u5f97\uff08\u516c\u52df\u5897\u8cc7\u3084\u81ea\u5df1\u8cc7\u91d1\u30fb\u501f\u5165\u3092\u6d3b\u7528\uff09\u3059\u308b\u3053\u3068\u3067\u3001\u30ea\u30fc\u30c8\u5168\u4f53\u306e\u8cc7\u7523\u898f\u6a21\uff08AUM\uff09\u30681\u53e3\u3042\u305f\u308a\u306e\u5206\u914d\u91d1\u3092\u4e2d\u9577\u671f\u7684\u306b\u62e1\u5927\u3057\u3066\u3044\u304f\u300c\u5916\u90e8\u6210\u9577\u30b7\u30ca\u30ea\u30aa\u300d\u304c\u78ba\u7acb\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"38\">4. \u30a4\u30f3\u30d5\u30ec\uff08\u7269\u4fa1\u4e0a\u6607\uff09\u306b\u5bfe\u3059\u308b\u8010\u6027<\/h2>\n<p data-path-to-node=\"39\">\u30a4\u30f3\u30d5\u30ec\u304c\u9032\u884c\u3059\u308b\u3068\u3001\u571f\u5730\u4ee3\u3084\u5efa\u8a2d\u8cc7\u6750\u8cbb\u3001\u4eba\u4ef6\u8cbb\u304c\u4e0a\u6607\u3059\u308b\u305f\u3081\u3001\u65b0\u305f\u306b\u7269\u6d41\u65bd\u8a2d\u3092\u5efa\u3066\u3088\u3046\u3068\u3057\u305f\u5834\u5408\u306e\u30b3\u30b9\u30c8\uff08\u518d\u8abf\u9054\u4fa1\u683c\uff09\u304c\u8df3\u306d\u4e0a\u304c\u308a\u307e\u3059\u3002\u3053\u308c\u306b\u3088\u308a\u65e2\u5b58\u7269\u4ef6\u306e\u5e0c\u5c11\u4fa1\u5024\u304c\u9ad8\u307e\u308a\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"39\">\u307e\u305f\u3001\u5951\u7d04\u6539\u5b9a\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u7269\u4fa1\u4e0a\u6607\u306b\u5fdc\u3058\u305f\u8cc3\u6599\u306e\u5024\u4e0a\u3052\u4ea4\u6e09\u3092\u884c\u3044\u3084\u3059\u304f\u3001\u30a4\u30f3\u30d5\u30ec\u4e0b\u3067\u3082\u8cc7\u7523\u306e\u7dad\u6301\u30fb\u6210\u9577\u304c\u671f\u5f85\u3067\u304d\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"40\">5. 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data-path-to-node=\"44\">\u6295\u8cc7\u5224\u65ad\u3092\u884c\u3046\u4e0a\u3067\u306f\u3001\u30c7\u30e1\u30ea\u30c3\u30c8\u3084\u30ea\u30b9\u30af\u306e\u628a\u63e1\u304c\u6b20\u304b\u305b\u307e\u305b\u3093\u3002\u4e3b\u306a\u61f8\u5ff5\u70b9\u306f\u4ee5\u4e0b\u306e4\u70b9\u3067\u3059\u3002<\/p>\n<h2 data-path-to-node=\"45\">1. \u91d1\u5229\u4e0a\u6607\u30ea\u30b9\u30af\uff08\u501f\u5165\u91d1\u306e\u5229\u6255\u3044\u5897\uff09<\/h2>\n<p data-path-to-node=\"46\">J-REIT\u306f\u7dcf\u8cc7\u7523\u306e40%\u301c50%\u7a0b\u5ea6\u3092\u91d1\u878d\u6a5f\u95a2\u304b\u3089\u306e\u501f\u5165\u91d1\u3084\u50b5\u5238\uff08\u6295\u8cc7\u6cd5\u4eba\u50b5\uff09\u3067\u8abf\u9054\u3057\u3066\u3044\u307e\u3059\u3002\u56fd\u5185\u91d1\u5229\u304c\u4e0a\u6607\u3059\u308b\u3068\u3001\u5c06\u6765\u7684\u306b\u501f\u5165\u91d1\u306e\u8fd4\u6e08\u671f\u65e5\u304c\u6765\u305f\u969b\u306b\u3088\u308a\u9ad8\u3044\u91d1\u5229\u3067\u501f\u63db\uff08\u30ea\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\uff09\u3059\u308b\u3053\u3068\u306b\u306a\u308a\u3001\u5229\u606f\u8cbb\u7528\u304c\u5897\u52a0\u3057\u3066\u5206\u914d\u91d1\u3092\u5727\u8feb\u3059\u308b\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"47\">2. \u5927\u91cf\u4f9b\u7d66\uff08\u9700\u7d66\u60aa\u5316\uff09\u306b\u3088\u308b\u7a7a\u5ba4\u7387\u4e0a\u6607\u30ea\u30b9\u30af<\/h2>\n<p 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data-path-to-node=\"50\">\u65b0\u3057\u3044\u7269\u4ef6\u3092\u53d6\u5f97\u3059\u308b\u305f\u3081\u306b\u6295\u8cc7\u53e3\uff08\u682a\u5f0f\u306b\u76f8\u5f53\uff09\u3092\u8ffd\u52a0\u767a\u884c\u3057\u3066\u8cc7\u91d1\u8abf\u9054\uff08PO\uff1aPublic Offering\uff09\u3092\u884c\u3046\u969b\u3001\u53d6\u5f97\u3057\u305f\u7269\u4ef6\u306e\u53ce\u76ca\u529b\u304c\u4f4e\u304b\u3063\u305f\u308a\u3001\u53d6\u5f97\u4fa1\u683c\u304c\u9ad8\u3059\u304e\u305f\u308a\u3059\u308b\u3068\u30011\u53e3\u3042\u305f\u308a\u306e\u5206\u914d\u91d1\u3084\u7d14\u8cc7\u7523\u4fa1\u5024\u304c\u8584\u307e\u308b\uff08\u5e0c\u8584\u5316\u3059\u308b\uff09\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"51\">4. \u5927\u898f\u6a21\u81ea\u7136\u707d\u5bb3\uff08\u5730\u9707\u30fb\u6c34\u5bb3\uff09\u30ea\u30b9\u30af<\/h2>\n<p data-path-to-node=\"52\">\u7269\u6d41\u65bd\u8a2d\u306f\u5e83\u3044\u6577\u5730\u3092\u78ba\u4fdd\u3059\u308b\u305f\u3081\u3001\u81e8\u6d77\u90e8\u3084\u6cb3\u5ddd\u306b\u8fd1\u3044\u90ca\u5916\u306b\u7acb\u5730\u3059\u308b\u3053\u3068\u304c\u591a\u304f\u3042\u308a\u307e\u3059\u3002\u30cf\u30b6\u30fc\u30c9\u30de\u30c3\u30d7\u306b\u304b\u304b\u308b\u5730\u57df\u3067\u306e\u51a0\u6c34\u3084\u5927\u898f\u6a21\u5730\u9707\u306b\u3088\u308b\u5efa\u7269\u306e\u7834\u640d\u304c\u767a\u751f\u3057\u305f\u5834\u5408\u3001\u4fee\u7e55\u8cbb\u7528\u306e\u767a\u751f\u3084\u4e00\u6642\u7684\u306a\u7a3c\u50cd\u505c\u6b62\u306b\u4f34\u3046\u53ce\u76ca\u4f4e\u4e0b\u30ea\u30b9\u30af\u304c\u5b58\u5728\u3057\u307e\u3059\u3002<\/p>\n<h1 data-path-to-node=\"54\">\u7b2c5\u7ae0\uff1a\u6295\u8cc7\u5224\u65ad\u306b\u304a\u3051\u308b\u91cd\u8981\u6307\u6a19\u3068\u898b\u6975\u3081\u30dd\u30a4\u30f3\u30c8<\/h1>\n<p data-path-to-node=\"55\">GLP\u6295\u8cc7\u6cd5\u4eba\u3092\u306f\u3058\u3081\u3068\u3059\u308bJ-REIT\u9298\u67c4\u3078\u306e\u6295\u8cc7\u3092\u958b\u59cb\u30fb\u7d99\u7d9a\u3059\u308b\u969b\u3001\u6295\u8cc7\u5bb6\u304c\u6c7a\u7b97\u8cc7\u6599\u306a\u3069\u3067\u5fc5\u305a\u30c1\u30a7\u30c3\u30af\u3059\u3079\u304d4\u3064\u306e\u91cd\u8981\u6307\u6a19\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"0\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c70665899=\"\" class=\"ng-tns-c70665899-4122 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c70665899=\"\" class=\"code-block ng-tns-c70665899-4122 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl9jNzg4NzQ2NjYyMzRmZDE2IiwiY183OWQzMjQwYWU3ZGIxMzI5IixudWxsLCJyY182OWY1ODY2Yzg2YjNmYzUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c70665899=\"\" class=\"formatted-code-block-internal-container ng-tns-c70665899-4122\">\n<div _ngcontent-ng-c70665899=\"\" class=\"animated-opacity ng-tns-c70665899-4122\">\n<pre _ngcontent-ng-c70665899=\"\" class=\"ng-tns-c70665899-4122\"><code _ngcontent-ng-c70665899=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c70665899-4122 no-decoration-radius\">\u3010\u898b\u6975\u3081\u308b\u305f\u3081\u306e4\u3064\u306e\u30b3\u30a2\u6307\u6a19\u3011\r\n1. NAV\u500d\u7387 \u2500\u2500\u2500 \u8cc7\u7523\u306e\u89e3\u6563\u4fa1\u5024\u306b\u5bfe\u3057\u3066\u5272\u5b89\u304b\u5272\u9ad8\u304b\r\n2. DPU\uff08\u5de1\u822a\u5206\u914d\u91d1\uff09 \u2500\u2500\u2500 \u4e00\u6642\u7684\u306a\u300c\u58f2\u5374\u76ca\u300d\u3092\u9664\u3044\u305f\u7d14\u7c8b\u306a\u7a3c\u3050\u529b\u304c\u3042\u308b\u304b\r\n3. LTV \u2500\u2500\u2500 \u501f\u5165\u91d1\u3078\u306e\u4f9d\u5b58\u5ea6\u304c\u9ad8\u3059\u304e\u306a\u3044\u304b\uff08\u5065\u5168\u6027\u306e\u78ba\u8a8d\uff09\r\n4. \u7a3c\u50cd\u7387\uff06\u8cc3\u6599\u6539\u5b9a\u7387 \u2500\u2500\u2500 \u7269\u4ef6\u7fa4\u304c\u6e80\u5ba4\u7a3c\u50cd\u3057\u3001\u8cc3\u6599\u3092\u4e0a\u3052\u3089\u308c\u3066\u3044\u308b\u304b\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h2 data-path-to-node=\"57\">1. NAV\u500d\u7387\uff08Net Asset Value Ratio\uff09<\/h2>\n<p data-path-to-node=\"58\">\u682a\u5f0f\u6295\u8cc7\u306b\u304a\u3051\u308b\u300cPBR\uff08\u682a\u4fa1\u7d14\u8cc7\u7523\u500d\u7387\uff09\u300d\u306b\u76f8\u5f53\u3059\u308b\u6307\u6a19\u3067\u3001J-REIT\u306e\u6295\u8cc7\u53e3\u4fa1\u683c\u304c\u5b9f\u8cea\u7684\u306a\u7d14\u8cc7\u7523\u4fa1\u5024\u306b\u5bfe\u3057\u3066\u5272\u5b89\u304b\u5272\u9ad8\u304b\u3092\u6e2c\u308a\u307e\u3059\u3002<\/p>\n<div data-path-to-node=\"59\">\n<div class=\"math-block\" data-math=\"\\text{NAV\u500d\u7387} = \\frac{\\text{\u73fe\u5728\u306e\u6295\u8cc7\u53e3\u4fa1\u683c}}{\\text{1\u53e3\u3042\u305f\u308a\u7d14\u8cc7\u7523\u4fa1\u5024\uff08NAV\uff09}}\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-05-12.36.24.png\" alt=\"\" width=\"569\" height=\"93\" class=\"aligncenter  wp-image-32048\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-05-12.36.24.png 844w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-05-12.36.24-300x49.png 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-05-12.36.24-768x126.png 768w\" sizes=\"(max-width: 569px) 100vw, 569px\" \/><\/div>\n<\/div>\n<ul data-path-to-node=\"60\">\n<li>\n<p data-path-to-node=\"60,0,0\"><b data-path-to-node=\"60,0,0\" data-index-in-node=\"0\">NAV\u500d\u7387 = 1.0\u500d<\/b>: \u5e02\u5834\u306e\u8a55\u4fa1\u3068\u4e0d\u52d5\u7523\u306e\u7d14\u8cc7\u7523\u4fa1\u5024\u304c\u4e00\u81f4\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"60,1,0\"><b data-path-to-node=\"60,1,0\" data-index-in-node=\"0\">NAV\u500d\u7387 &lt; 1.0\u500d<\/b>: \u4fdd\u6709\u3059\u308b\u4e0d\u52d5\u7523\u306e\u542b\u307f\u76ca\u306a\u3069\u3092\u8003\u616e\u3057\u305f\u5b9f\u8cea\u89e3\u6563\u4fa1\u5024\u3088\u308a\u3082\u5e02\u5834\u4fa1\u683c\u304c\u4e0b\u56de\u3063\u3066\u3044\u308b\u300c\u5272\u5b89\u72b6\u614b\u300d\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"60,2,0\"><b data-path-to-node=\"60,2,0\" data-index-in-node=\"0\">NAV\u500d\u7387 &gt; 1.0\u500d<\/b>: \u5e02\u5834\u3067\u306e\u8a55\u4fa1\u304c\u9ad8\u304f\u3001\u5c06\u6765\u306e\u6210\u9577\u671f\u5f85\u306a\u3069\u304c\u30d7\u30ec\u30df\u30a2\u30e0\u3068\u3057\u3066\u4e57\u3063\u3066\u3044\u308b\u72b6\u614b\u3002<\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"61\">NAV\u500d\u7387\u304c1.0\u500d\u3092\u5927\u304d\u304f\u5272\u308a\u8fbc\u3093\u3067\u3044\u308b\u30bf\u30a4\u30df\u30f3\u30b0\u306f\u3001\u4fdd\u6709\u8cc7\u7523\u306b\u5bfe\u3057\u3066\u5272\u5b89\u306b\u8cfc\u5165\u3067\u304d\u308b\u30c1\u30e3\u30f3\u30b9\u3092\u793a\u5506\u3057\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"62\">2. DPU\uff081\u53e3\u3042\u305f\u308a\u5206\u914d\u91d1\uff09\u3068\u300c\u5de1\u822a\u5206\u914d\u91d1\u300d\u306e\u898b\u6975\u3081<\/h2>\n<p data-path-to-node=\"63\">\u8868\u8a18\u3055\u308c\u3066\u3044\u308b\u5206\u914d\u91d1\u5229\u56de\u308a\uff08\u8868\u9762\u5229\u56de\u308a\uff09\u3060\u3051\u3067\u5224\u65ad\u3059\u308b\u306e\u306f\u5371\u967a\u3067\u3059\u3002<\/p>\n<p data-path-to-node=\"63\">\u5206\u914d\u91d1\u306e\u5185\u8a33\u306b\u306f\u3001\u4ee5\u4e0b\u306e2\u7a2e\u985e\u304c\u5b58\u5728\u3057\u307e\u3059\u3002<\/p>\n<ol start=\"1\" data-path-to-node=\"64\">\n<li>\n<p data-path-to-node=\"64,0,0\"><b data-path-to-node=\"64,0,0\" data-index-in-node=\"0\">\u901a\u5e38\u8cc3\u6599\u306b\u3088\u308b\u5206\u914d\u91d1\uff08\u5de1\u822aDPU\uff09<\/b>: \u4fdd\u6709\u7269\u4ef6\u306e\u8cc3\u6599\u53ce\u5165\u304b\u3089\u5f97\u3089\u308c\u308b\u3001\u6bce\u671f\u6301\u7d9a\u53ef\u80fd\u306a\u672c\u696d\u306e\u53ce\u76ca\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"64,1,0\"><b data-path-to-node=\"64,1,0\" data-index-in-node=\"0\">\u7269\u4ef6\u58f2\u5374\u76ca\u8fbc\u307f\u306e\u5206\u914d\u91d1<\/b>: \u4fdd\u6709\u7269\u4ef6\u3092\u58f2\u5374\u3057\u305f\u969b\u306b\u4e00\u6642\u7684\u306b\u767a\u751f\u3059\u308b\u5229\u76ca\u306e\u4e0a\u4e57\u305b\u3002<\/p>\n<\/li>\n<\/ol>\n<p data-path-to-node=\"65\">\u58f2\u5374\u76ca\u304c\u4e57\u3063\u3066\u3044\u308b\u671f\u306f\u4e00\u6642\u7684\u306b\u5206\u914d\u91d1\u5229\u56de\u308a\u304c\u9ad8\u304f\u306a\u308a\u307e\u3059\u304c\u3001\u7fcc\u671f\u306b\u306f\u5265\u843d\u3057\u307e\u3059\u3002\u300c\u4e00\u6642\u7684\u306a\u58f2\u5374\u76ca\u3092\u9664\u3044\u305f\u3001\u8cc3\u6599\u53ce\u5165\u3060\u3051\u306e\u30d9\u30fc\u30b9\uff08\u5de1\u822aDPU\uff09\u3067\u3069\u308c\u3060\u3051\u306e\u5229\u56de\u308a\u304c\u3042\u308b\u304b\u300d\u3092\u78ba\u8a8d\u3059\u308b\u3053\u3068\u304c\u672c\u8cea\u7684\u306a\u53ce\u76ca\u529b\u3092\u898b\u6975\u3081\u308b\u30dd\u30a4\u30f3\u30c8\u3067\u3059\u3002<\/p>\n<h2 data-path-to-node=\"66\">3. LTV\uff08Loan to Value\uff1a\u6709\u5229\u5b50\u8ca0\u50b5\u6bd4\u7387\uff09<\/h2>\n<p data-path-to-node=\"67\">LTV\u306f\u3001\u7dcf\u8cc7\u7523\u306b\u5bfe\u3057\u3066\u3069\u308c\u3060\u3051\u306e\u501f\u5165\u3092\u884c\u3063\u3066\u3044\u308b\u304b\u3092\u793a\u3059\u8ca1\u52d9\u306e\u5065\u5168\u6027\u6307\u6a19\u3067\u3059\u3002<\/p>\n<div data-path-to-node=\"68\">\n<div class=\"math-block\" data-math=\"\\text{LTV (\\%)} = \\frac{\\text{\u6709\u5229\u5b50\u8ca0\u50b5\u6b8b\u9ad8\uff08\u501f\u5165\u91d1\uff0b\u6295\u8cc7\u6cd5\u4eba\u50b5\uff09}}{\\text{\u7dcf\u8cc7\u7523\u984d}} \\times 100\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-05-12.37.08-1024x121.png\" alt=\"\" width=\"624\" height=\"74\" class=\"aligncenter  wp-image-32050\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-05-12.37.08-1024x121.png 1024w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-05-12.37.08-300x36.png 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-05-12.37.08-768x91.png 768w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-05-12.37.08.png 1130w\" sizes=\"(max-width: 624px) 100vw, 624px\" \/><\/div>\n<\/div>\n<p data-path-to-node=\"69\">J-REIT\u696d\u754c\u306e\u9069\u6b63\u6c34\u6e96\u306f<b data-path-to-node=\"69\" data-index-in-node=\"14\">40%\u301c50%\u7a0b\u5ea6<\/b>\u3067\u3059\u3002LTV\u304c\u9ad8\u3059\u304e\u308b\u3068\u91d1\u5229\u4e0a\u6607\u6642\u306e\u5229\u6255\u3044\u8ca0\u62c5\u304c\u91cd\u304f\u306a\u308a\u3001\u9006\u306b\u4f4e\u3059\u304e\u308b\u3068\u30ec\u30d0\u30ec\u30c3\u30b8\u52b9\u679c\u3092\u6d3b\u304b\u3057\u305f\u6210\u9577\u304c\u63a7\u3048\u3081\u306b\u306a\u308a\u307e\u3059\u3002GLP\u6295\u8cc7\u6cd5\u4eba\u304c\u5065\u5168\u306aLTV\u6c34\u6e96\u3092\u7dad\u6301\u3067\u304d\u3066\u3044\u308b\u304b\u3092\u78ba\u8a8d\u3057\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"70\">4. \u7a3c\u50cd\u7387\u3068\u8cc3\u6599\u6539\u5b9a\u7387\uff08\u5185\u90e8\u6210\u9577\uff09<\/h2>\n<p data-path-to-node=\"71\">\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u5168\u4f53\u306e\u7a3c\u50cd\u7387\u304c<b data-path-to-node=\"71\" data-index-in-node=\"14\">98%\u301c99%\u4ee5\u4e0a\u306e\u9ad8\u6c34\u6e96<\/b>\u3092\u7dad\u6301\u3067\u304d\u3066\u3044\u308b\u304b\u3001\u305d\u3057\u3066\u65e2\u5b58\u5951\u7d04\u306e\u66f4\u65b0\u6642\uff08\u30ea\u30cb\u30e5\u30fc\u30a2\u30eb\u6642\uff09\u306b\u65e2\u5b58\u30c6\u30ca\u30f3\u30c8\u306b\u5bfe\u3057\u3066\u8cc3\u6599\u306e\u5024\u4e0a\u3052\uff08\u5897\u984d\u6539\u5b9a\uff09\u3092\u9054\u6210\u3067\u304d\u3066\u3044\u308b\u304b\u3069\u3046\u304b\u304c\u3001\u904b\u7528\u80fd\u529b\u3068\u7269\u4ef6\u529b\u306e\u9ad8\u3055\u3092\u88cf\u4ed8\u3051\u307e\u3059\u3002<\/p>\n<div class=\"xcd-attention-1 xcd-col2 xcd-ripple\">\n<div class=\"xcd-title\"><strong>\u8cc7\u7523\u904b\u7528\u3067\u5931\u6557\u3057\u305f\u304f\u306a\u3044\u65b9\u3078<\/strong><\/div>\n<div class=\"xcd-content\"><strong>\u79c1\u305f\u3061GFS\u3067\u306f\u3001\u5b66\u6821\u3067\u306f\u6559\u3048\u3066\u3082\u3089\u3048\u306a\u304b\u3063\u305f\u304a\u91d1\u306e\u3053\u3068\u304c\u308f\u304b\u308b\u7121\u6599\u30b3\u30f3\u30c6\u30f3\u30c4\u3092\u3054\u7528\u610f\u3057\u3066\u3044\u307e\u3059\u3002<\/strong><br \/>\n<strong><span style=\"color: #0066c0;\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\" style=\"color: #0066c0;\">\u226b \u7121\u6599\u8b1b\u5ea7\uff1a\u304a\u91d1\u306e\u30d7\u30ed\u304c\u6559\u3048\u308b\u300c\u521d\u5fc3\u8005\u304c\u6bce\u6708\u53ce\u5165\u3092\u5f97\u308b\u6295\u8cc7\u306e\u59cb\u3081\u65b9\u300d<\/a><\/span><\/strong><\/div>\n<\/div>\n<h1 data-path-to-node=\"73\">\u7b2c6\u7ae0\uff1aJ-REIT\u5e02\u5834\u5168\u4f53\u306b\u304a\u3051\u308b\u91d1\u5229\u4e0a\u6607\u30ea\u30b9\u30af\u3068\u5f71\u97ff\u7d4c\u8def<\/h1>\n<p data-path-to-node=\"74\">\u3053\u3053\u304b\u3089\u306f\u3001\u73fe\u5728\u306e\u91d1\u878d\u74b0\u5883\u3067\u6700\u3082\u91cd\u8981\u306a\u30c8\u30d4\u30c3\u30af\u3067\u3042\u308b\u300c\u91d1\u5229\u4e0a\u6607\u300d\u306b\u3064\u3044\u3066\u6df1\u6398\u308a\u3057\u307e\u3059\u3002\u56fd\u5185\u91d1\u5229\u304c\u4e0a\u6607\u3057\u305f\u969b\u3001J-REIT\u5e02\u5834\u5168\u4f53\u306b\u3069\u306e\u3088\u3046\u306a\u5f71\u97ff\u304c\u53ca\u3076\u306e\u304b\u3001\u305d\u306e\u7d4c\u8def\u306f\u5927\u304d\u304f3\u3064\u3042\u308a\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"0\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c70665899=\"\" class=\"ng-tns-c70665899-4123 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c70665899=\"\" class=\"code-block ng-tns-c70665899-4123 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl9jNzg4NzQ2NjYyMzRmZDE2IiwiY183OWQzMjQwYWU3ZGIxMzI5IixudWxsLCJyY182OWY1ODY2Yzg2YjNmYzUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c70665899=\"\" class=\"formatted-code-block-internal-container ng-tns-c70665899-4123\">\n<div _ngcontent-ng-c70665899=\"\" class=\"animated-opacity ng-tns-c70665899-4123\">\n<pre _ngcontent-ng-c70665899=\"\" class=\"ng-tns-c70665899-4123\"><code _ngcontent-ng-c70665899=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c70665899-4123 no-decoration-radius\">\u3010\u91d1\u5229\u4e0a\u6607\u306e\u5f71\u97ff\u7d4c\u8def\u3011\r\n[\u65e5\u9280\u306e\u91d1\u878d\u653f\u7b56\u5909\u66f4\u30fb\u56fd\u5185\u91d1\u5229\u306e\u4e0a\u6607]\r\n       \u2502\r\n       \u251c\u2500\u2460 \u652f\u6255\u5229\u606f\u306e\u5897\u52a0 \u2500\u2500\u2500\u2500\u2500\u2500&gt; \u501f\u63db\u30b3\u30b9\u30c8\u306e\u5897\u52a0 \u2500\u2500\u2500&gt; \u5206\u914d\u91d1\uff08DPU\uff09\u306e\u62bc\u3057\u4e0b\u3052\r\n       \u251c\u2500\u2461 \u8981\u6c42\u5229\u56de\u308a\uff08CR\uff09\u306e\u4e0a\u6607 \u2500&gt; \u4e0d\u52d5\u7523\u8a55\u4fa1\u984d\u306e\u4e0b\u843d \u2500&gt; NAV\uff08\u7d14\u8cc7\u7523\u4fa1\u5024\uff09\u306e\u6e1b\u5c11\r\n       \u2514\u2500\u2462 \u56fd\u50b5\u5229\u56de\u308a\u306e\u4e0a\u6607 \u2500\u2500\u2500\u2500\u2500\u2500&gt; \u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u7e2e\u5c0f \u2500\u2500\u2500&gt; \u6295\u8cc7\u53e3\u4fa1\u683c\uff08\u5e02\u5834\u4fa1\u683c\uff09\u306e\u4e0b\u843d\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h2 data-path-to-node=\"76\">1. \u652f\u6255\u5229\u606f\u306e\u5897\u52a0\uff08\u5206\u914d\u91d1\u306e\u76f4\u63a5\u7684\u306a\u5727\u8feb\uff09<\/h2>\n<p data-path-to-node=\"77\">\u91d1\u5229\u304c\u4e0a\u304c\u308b\u3068\u3001\u5c06\u6765\u7684\u306b\u5230\u6765\u3059\u308b\u501f\u5165\u91d1\u306e\u8fd4\u6e08\u671f\u65e5\u306b\u304a\u3044\u3066\u3001\u3088\u308a\u9ad8\u3044\u91d1\u5229\u3067\u65b0\u898f\u306b\u501f\u308a\u63db\u3048\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002\u5229\u6255\u3044\u8cbb\u7528\u306e\u5897\u52a0\u306f\u5229\u76ca\uff08\u7d14\u5229\u76ca\uff09\u3092\u76f4\u63a5\u6e1b\u3089\u3059\u305f\u3081\u3001\u7d50\u679c\u3068\u3057\u3066\u6295\u8cc7\u5bb6\u3078\u652f\u6255\u308f\u308c\u308b\u5206\u914d\u91d1\u304c\u6e1b\u5c11\u3059\u308b\u8981\u56e0\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"78\">2. \u4e0d\u52d5\u7523\u8a55\u4fa1\u984d\uff08\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\uff09\u3078\u306e\u4e0b\u843d\u5727\u529b<\/h2>\n<p data-path-to-node=\"79\">\u5e02\u5834\u306e\u9577\u671f\u91d1\u5229\u304c\u4e0a\u6607\u3059\u308b\u3068\u3001\u4e0d\u52d5\u7523\u9451\u5b9a\u8a55\u4fa1\u3067\u7528\u3044\u3089\u308c\u308b\u9084\u5143\u5229\u56de\u308a\uff08\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\uff09\u306b\u3082\u4e0a\u6607\u5727\u529b\u304c\u304b\u304b\u308a\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"79\">\u4e0d\u52d5\u7523\u4fa1\u5024\u306f\u300c\u8cc3\u6599\u53ce\u5165 \u00f7 \u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u300d\u3067\u7b97\u51fa\u3055\u308c\u308b\u305f\u3081\u3001\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u304c\u4e0a\u6607\u3059\u308b\u3068\u8a08\u7b97\u4e0a\u3001\u4fdd\u6709\u4e0d\u52d5\u7523\u306e\u8a55\u4fa1\u984d\u304c\u4e0b\u843d\u3057\u3001\u542b\u307f\u76ca\u306e\u6e1b\u5c11\u3084NAV\u306e\u6bc0\u640d\u306b\u3064\u306a\u304c\u308a\u307e\u3059\u3002<\/p>\n<h2 data-path-to-node=\"80\">3. \u56fd\u50b5\u3068\u306e\u30b9\u30d7\u30ec\u30c3\u30c9\uff08\u5229\u56de\u308a\u5dee\uff09\u306e\u7e2e\u5c0f<\/h2>\n<p data-path-to-node=\"81\">\u5b89\u5168\u8cc7\u7523\u3067\u3042\u308b\u300c10\u5e74\u7269\u65e5\u672c\u56fd\u50b5\u300d\u306e\u5229\u56de\u308a\u304c\u4e0a\u6607\u3059\u308b\u3068\u3001\u30ea\u30b9\u30af\u8cc7\u7523\u3067\u3042\u308bJ-REIT\u306e\u5206\u914d\u91d1\u5229\u56de\u308a\u3068\u306e\u5dee\uff08\u30a4\u30fc\u30eb\u30c9\u30b9\u30d7\u30ec\u30c3\u30c9\uff09\u304c\u7e2e\u5c0f\u3057\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"81\">\u300c\u30ea\u30b9\u30af\u3092\u3068\u3063\u3066J-REIT\u3092\u8cb7\u3046\u30e1\u30ea\u30c3\u30c8\u300d\u304c\u76f8\u5bfe\u7684\u306b\u5c0f\u3055\u304f\u306a\u308b\u305f\u3081\u3001\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306a\u3069\u304c\u30ea\u30fc\u30c8\u3092\u58f2\u5374\u3057\u3066\u56fd\u50b5\u3078\u8cc7\u91d1\u3092\u79fb\u52d5\u3055\u305b\u3001\u6295\u8cc7\u53e3\u4fa1\u683c\u5168\u4f53\u306b\u4e0b\u843d\u5727\u529b\u304c\u304b\u304b\u308a\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<h1 data-path-to-node=\"83\">\u7b2c7\u7ae0\uff1a\u9298\u67c4\u3054\u3068\u306e\u300c\u91d1\u5229\u8010\u6027\u300d\u3092\u898b\u6975\u3081\u308b4\u3064\u306e\u8ca1\u52d9\u30c1\u30a7\u30c3\u30af\u30dd\u30a4\u30f3\u30c8<\/h1>\n<p data-path-to-node=\"84\">\u91d1\u5229\u304c\u4e0a\u6607\u3059\u308b\u74b0\u5883\u4e0b\u3067\u3042\u3063\u3066\u3082\u3001\u3059\u3079\u3066\u306eJ-REIT\u9298\u67c4\u304c\u5747\u4e00\u306b\u6253\u6483\u3092\u53d7\u3051\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u8ca1\u52d9\u69cb\u9020\u3084\u904b\u7528\u306e\u5de5\u592b\u306b\u3088\u3063\u3066\u91d1\u5229\u8010\u6027\u306b\u306f\u5927\u304d\u306a\u958b\u304d\u304c\u51fa\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"85\">\u91d1\u5229\u8010\u6027\u304c\u9ad8\u3044\u9298\u67c4\u3092\u5224\u5225\u3059\u308b\u305f\u3081\u306e4\u3064\u306e\u30c1\u30a7\u30c3\u30af\u30dd\u30a4\u30f3\u30c8\u306f\u4ee5\u4e0b\u306e\u901a\u308a\u3067\u3059\u3002<\/p>\n<table data-path-to-node=\"86\">\n<thead>\n<tr>\n<td><strong>\u30c1\u30a7\u30c3\u30af\u6307\u6a19<\/strong><\/td>\n<td><strong>\u91d1\u5229\u8010\u6027\u304c\u5f37\u3044\u57fa\u6e96<\/strong><\/td>\n<td><strong>\u8ca1\u52d9\u7684\u306a\u30e1\u30ab\u30cb\u30ba\u30e0<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span data-path-to-node=\"86,1,0,0\"><b data-path-to-node=\"86,1,0,0\" data-index-in-node=\"0\">1. \u56fa\u5b9a\u91d1\u5229\u6bd4\u7387<\/b><\/span><\/td>\n<td><span data-path-to-node=\"86,1,1,0\"><b data-path-to-node=\"86,1,1,0\" data-index-in-node=\"0\">85%\u301c90%\u4ee5\u4e0a<\/b><\/span><\/td>\n<td><span data-path-to-node=\"86,1,2,0\">\u91d1\u5229\u304c\u3069\u308c\u3060\u3051\u4e0a\u304c\u3063\u3066\u3082\u3001\u501f\u5165\u671f\u9593\u4e2d\u306e\u5229\u6255\u3044\u984d\u304c\u5909\u52d5\u3057\u306a\u3044<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"86,2,0,0\"><b data-path-to-node=\"86,2,0,0\" data-index-in-node=\"0\">2. \u5e73\u5747\u8fd4\u6e08\u671f\u9593\u3068\u5206\u6563\uff08\u30e9\u30c0\u30fc\uff09<\/b><\/span><\/td>\n<td><span data-path-to-node=\"86,2,1,0\"><b data-path-to-node=\"86,2,1,0\" data-index-in-node=\"0\">\u5e73\u57475\u5e74\u4ee5\u4e0a\uff0f\u8fd4\u6e08\u671f\u65e5\u306e\u5206\u6563<\/b><\/span><\/td>\n<td><span data-path-to-node=\"86,2,2,0\">\u501f\u63db\u6642\u671f\u304c\u6bce\u5e74\u5c11\u984d\u305a\u3064\u5747\u7b49\u306b\u5206\u6563\u3055\u308c\u3066\u304a\u308a\u3001\u6025\u6fc0\u306a\u5f71\u97ff\u3092\u56de\u907f<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"86,3,0,0\"><b data-path-to-node=\"86,3,0,0\" data-index-in-node=\"0\">3. LTV\uff08\u6709\u5229\u5b50\u8ca0\u50b5\u6bd4\u7387\uff09<\/b><\/span><\/td>\n<td><span data-path-to-node=\"86,3,1,0\"><b data-path-to-node=\"86,3,1,0\" data-index-in-node=\"0\">40%\u301c45%\u4ee5\u4e0b<\/b><\/span><\/td>\n<td><span data-path-to-node=\"86,3,2,0\">\u501f\u5165\u91d1\u3078\u306e\u4f9d\u5b58\u5ea6\u304c\u4f4e\u304f\u3001\u5229\u6255\u3044\u5897\u306e\u7d76\u5bfe\u984d\u304c\u6291\u3048\u3089\u308c\u308b<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"86,4,0,0\"><b data-path-to-node=\"86,4,0,0\" data-index-in-node=\"0\">4. \u8cc3\u6599\u5897\u984d\uff08\u30a4\u30f3\u30d5\u30ec\u8ee2\u5ac1\uff09\u529b<\/b><\/span><\/td>\n<td><span data-path-to-node=\"86,4,1,0\"><b data-path-to-node=\"86,4,1,0\" data-index-in-node=\"0\">\u8cc3\u6599\u6539\u5b9a\u7387\u304c\u30d7\u30e9\u30b9\u63a8\u79fb<\/b><\/span><\/td>\n<td><span data-path-to-node=\"86,4,2,0\">\u5229\u6255\u3044\u8cbb\u7528\u306e\u5897\u52a0\u5206\u3092\u3001\u672c\u696d\u306e\u300c\u8cc3\u6599\u5024\u4e0a\u3052\uff08\u53ce\u5165\u5897\uff09\u300d\u3067\u76f8\u6bba\u3067\u304d\u308b<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 data-path-to-node=\"87\">1. \u56fa\u5b9a\u91d1\u5229\u6bd4\u7387\uff08Fix Rate Ratio\uff09<\/h2>\n<p data-path-to-node=\"88\">\u7dcf\u501f\u5165\u91d1\u306e\u3046\u3061\u3001\u91d1\u5229\u3092\u300c\u56fa\u5b9a\u300d\u3067\u8abf\u9054\u3057\u3066\u3044\u308b\u5272\u5408\u3067\u3059\u3002<\/p>\n<ul data-path-to-node=\"89\">\n<li>\n<p data-path-to-node=\"89,0,0\"><b data-path-to-node=\"89,0,0\" data-index-in-node=\"0\">\u898b\u6975\u3081<\/b>: <b data-path-to-node=\"89,0,0\" data-index-in-node=\"5\">85%\u301c90%\u4ee5\u4e0a<\/b>\uff08GLP\u6295\u8cc7\u6cd5\u4eba\u306a\u3069\u5927\u624b\u306f\u307b\u307c100%\u306b\u8fd1\u3044\u6c34\u6e96\u3092\u7dad\u6301\uff09<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"89,1,0\"><b data-path-to-node=\"89,1,0\" data-index-in-node=\"0\">\u89e3\u8aac<\/b>: \u5909\u52d5\u91d1\u5229\u306e\u6bd4\u7387\u304c\u9ad8\u3044\u9298\u67c4\u306f\u91d1\u5229\u4e0a\u6607\u304c\u5373\u5ea7\u306b\u5229\u6255\u3044\u5897\u3078\u76f4\u7d50\u3057\u307e\u3059\u304c\u3001\u56fa\u5b9a\u91d1\u5229\u6bd4\u7387\u304c\u9ad8\u3044\u9298\u67c4\u306f\u3001\u8fd4\u6e08\u671f\u65e5\u3092\u8fce\u3048\u308b\u307e\u3067\u904e\u53bb\u306e\u4f4e\u3044\u91d1\u5229\u304c\u9069\u7528\u3055\u308c\u7d9a\u3051\u308b\u305f\u3081\u3001\u91d1\u5229\u6025\u9a30\u306b\u5bfe\u3059\u308b\u5f37\u529b\u306a\u9632\u5fa1\u58c1\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"90\">2. \u5e73\u5747\u8fd4\u6e08\u6b8b\u5b58\u671f\u9593\u3068\u8fd4\u6e08\u30e9\u30c0\u30fc\u306e\u69cb\u7bc9<\/h2>\n<ul data-path-to-node=\"91\">\n<li>\n<p data-path-to-node=\"91,0,0\"><b data-path-to-node=\"91,0,0\" data-index-in-node=\"0\">\u898b\u6975\u3081<\/b>: \u501f\u5165\u91d1\u306e\u5e73\u5747\u8fd4\u6e08\u6b8b\u5b58\u671f\u9593\u304c<b data-path-to-node=\"91,0,0\" data-index-in-node=\"18\">5\u5e74\u4ee5\u4e0a<\/b>\u3068\u9577\u304f\u78ba\u4fdd\u3055\u308c\u3066\u3044\u308b\u304b\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"91,1,0\"><b data-path-to-node=\"91,1,0\" data-index-in-node=\"0\">\u8fd4\u6e08\u30e9\u30c0\u30fc\uff08\u5e73\u6e96\u5316\uff09<\/b>: \u7279\u5b9a\u306e\u5358\u5e74\u5ea6\u306b\u5927\u91cf\u306e\u501f\u5165\u8fd4\u6e08\u304c\u96c6\u4e2d\u3057\u3066\u3044\u306a\u3044\u304b\u3002\u6bce\u5e745%\u301c10%\u305a\u3064\u8fd4\u6e08\u671f\u65e5\u304c\u3084\u3063\u3066\u304f\u308b\u3088\u3046\u306b\u68af\u5b50\uff08\u30e9\u30c0\u30fc\uff09\u72b6\u306b\u5206\u6563\u3055\u308c\u3066\u3044\u308c\u3070\u3001\u91d1\u5229\u304c\u4e0a\u6607\u3057\u3066\u30821\u5e74\u3042\u305f\u308a\u306e\u501f\u63db\u5f71\u97ff\u306f\u308f\u305a\u304b\u6570%\u5206\u306b\u7559\u307e\u308a\u3001\u30c0\u30e1\u30fc\u30b8\u3092\u4f55\u5e74\u3082\u304b\u3051\u3066\u7de9\u3084\u304b\u306b\u5438\u53ce\u3067\u304d\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"92\">3. LTV\u306e\u6291\u5236<\/h2>\n<ul data-path-to-node=\"93\">\n<li>\n<p data-path-to-node=\"93,0,0\"><b data-path-to-node=\"93,0,0\" data-index-in-node=\"0\">\u898b\u6975\u3081<\/b>: LTV\u304c<b data-path-to-node=\"93,0,0\" data-index-in-node=\"9\">40%\u301c45%\u7a0b\u5ea6<\/b>\u306b\u4f4e\u304f\u6291\u3048\u3089\u308c\u3066\u3044\u308b\u304b\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"93,1,0\"><b data-path-to-node=\"93,1,0\" data-index-in-node=\"0\">\u89e3\u8aac<\/b>: \u7dcf\u8cc7\u7523\u306b\u5bfe\u3059\u308b\u501f\u5165\u306e\u6bd4\u7387\u304c\u4f4e\u3051\u308c\u3070\u4f4e\u3044\u307b\u3069\u3001\u91d1\u5229\u304c\u4e0a\u6607\u3057\u305f\u969b\u306e\u7d76\u5bfe\u7684\u306a\u30b3\u30b9\u30c8\u5897\u304c\u5c0f\u3055\u304f\u306a\u308a\u307e\u3059\u3002\u307e\u305f\u3001LTV\u306b\u4f59\u88d5\u304c\u3042\u308c\u3070\u3001\u5c06\u6765\u7684\u306b\u91d1\u5229\u304c\u843d\u3061\u3064\u3044\u305f\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u8ffd\u52a0\u501f\u5165\u3092\u884c\u3046\u4f59\u529b\u304c\u751f\u307e\u308c\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"94\">4. \u30b3\u30b9\u30c8\u5897\u3092\u76f8\u6bba\u3067\u304d\u308b\u300c\u8cc3\u6599\u8ee2\u5ac1\u529b\u300d<\/h2>\n<p data-path-to-node=\"95\">\u8ca1\u52d9\u9762\u3067\u306e\u9632\u5fa1\u3060\u3051\u3067\u306a\u304f\u3001\u300c\u30b3\u30b9\u30c8\uff08\u5229\u606f\uff09\u304c\u5897\u3048\u305f\u5206\u4ee5\u4e0a\u306b\u3001\u53ce\u5165\uff08\u8cc3\u6599\uff09\u3092\u5897\u3084\u305b\u308b\u304b\u300d\u3068\u3044\u3046\u653b\u6483\u9762\uff08\u55b6\u696d\u9762\uff09\u306e\u5f37\u3055\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n<p data-path-to-node=\"95\">\u7269\u4ef6\u306e\u7acb\u5730\u304c\u826f\u304f\u9700\u8981\u304c\u65fa\u76db\u3067\u3042\u308c\u3070\u3001\u5951\u7d04\u66f4\u65b0\u6642\u306b\u30c6\u30ca\u30f3\u30c8\u306b\u5bfe\u3057\u3066\u8cc3\u6599\u30a2\u30c3\u30d7\u3092\u4ea4\u6e09\u3057\u3001\u91d1\u5229\u8cbb\u7528\u5897\u3092\u5438\u53ce\u30fb\u4e0a\u56de\u308b\u5185\u90e8\u6210\u9577\u3092\u5b9f\u73fe\u3067\u304d\u307e\u3059\u3002<\/p>\n<h1 data-path-to-node=\"97\">\u7b2c8\u7ae0\uff1a\u30a2\u30bb\u30c3\u30c8\u30af\u30e9\u30b9\u5225\u30fb\u91d1\u5229\u8010\u6027\u306e\u8a73\u7d30\u6bd4\u8f03\uff08\u7269\u6d41 vs \u30aa\u30d5\u30a3\u30b9 vs \u4f4f\u5b85\uff09<\/h1>\n<p data-path-to-node=\"98\">J-REIT\u306f\u6295\u8cc7\u5bfe\u8c61\u3068\u3059\u308b\u4e0d\u52d5\u7523\u306e\u7a2e\u985e\uff08\u30a2\u30bb\u30c3\u30c8\u30af\u30e9\u30b9\uff09\u306b\u3088\u3063\u3066\u3001\u91d1\u5229\u4e0a\u6607\u306b\u5bfe\u3059\u308b\u5f37\u307f\u3068\u5f31\u307f\u304c\u5927\u304d\u304f\u7570\u306a\u308a\u307e\u3059\u3002\u3053\u3053\u3067\u306f\u300c\u7269\u6d41\u30ea\u30fc\u30c8\u300d\u300c\u30aa\u30d5\u30a3\u30b9\u30ea\u30fc\u30c8\u300d\u300c\u4f4f\u5b85\u30ea\u30fc\u30c8\u300d\u306e\u7279\u6027\u3092\u8a73\u7d30\u306b\u6bd4\u8f03\u3057\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"0\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c70665899=\"\" class=\"ng-tns-c70665899-4124 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c70665899=\"\" class=\"code-block ng-tns-c70665899-4124 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl9jNzg4NzQ2NjYyMzRmZDE2IiwiY183OWQzMjQwYWU3ZGIxMzI5IixudWxsLCJyY182OWY1ODY2Yzg2YjNmYzUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c70665899=\"\" class=\"formatted-code-block-internal-container ng-tns-c70665899-4124\">\n<div _ngcontent-ng-c70665899=\"\" class=\"animated-opacity ng-tns-c70665899-4124\">\n<pre _ngcontent-ng-c70665899=\"\" class=\"ng-tns-c70665899-4124\"><code _ngcontent-ng-c70665899=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c70665899-4124 no-decoration-radius\">\u3010\u30a2\u30bb\u30c3\u30c8\u30af\u30e9\u30b9\u3054\u3068\u306e\u7279\u6027\u30de\u30c8\u30ea\u30af\u30b9\u3011\r\n\r\n\u30fb\u7269\u6d41\u30ea\u30fc\u30c8\uff08GLP\u306a\u3069\uff09 \u2500\u2500\u2500&gt; \u3010\u8ca1\u52d9\u9632\u885b\u578b\u3011\u8d85\u9577\u671f\u5951\u7d04\uff0b\u56fa\u5b9a\u91d1\u5229\u3067\u30b3\u30b9\u30c8\u5897\u3092\u30ac\u30fc\u30c9\u3002\u8cc3\u6599\u5909\u66f4\u306f\u7de9\u3084\u304b\u3002\r\n\u30fb\u30aa\u30d5\u30a3\u30b9\u30ea\u30fc\u30c8 \u2500\u2500\u2500\u2500\u2500&gt; \u3010\u6a5f\u52d5\u6210\u9577\u578b\u30112\u5e74\u66f4\u65b0\u3067\u6a5f\u52d5\u7684\u306b\u8cc3\u6599\u5024\u4e0a\u3052\u3002\u597d\u666f\u6c17\u6642\u306e\u91d1\u5229\u4e0a\u6607\u306b\u5f37\u3044\u3002\r\n\u30fb\u4f4f\u5b85\uff08\u30ec\u30b8\u30c7\u30f3\u30b7\u30e3\u30eb\uff09 \u2500&gt; \u3010\u751f\u6d3b\u30a4\u30f3\u30d5\u30e9\u578b\u3011\u666f\u6c17\u30fb\u91d1\u5229\u306e\u5909\u52d5\u306b\u6700\u3082\u5f37\u3044\u304c\u3001\u5927\u5e45\u306a\u8cc3\u6599\u5024\u4e0a\u3052\u306f\u96e3\u3002\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h2 data-path-to-node=\"100\">1. \u7269\u6d41\u30ea\u30fc\u30c8 vs \u30aa\u30d5\u30a3\u30b9\u30ea\u30fc\u30c8 vs \u4f4f\u5b85\u30ea\u30fc\u30c8\u306e\u6bd4\u8f03\u4e00\u89a7<\/h2>\n<table data-path-to-node=\"101\">\n<thead>\n<tr>\n<td><strong>\u6bd4\u8f03\u9805\u76ee<\/strong><\/td>\n<td><strong>\u7269\u6d41\u30ea\u30fc\u30c8\uff08GLP\u7b49\uff09<\/strong><\/td>\n<td><strong>\u30aa\u30d5\u30a3\u30b9\u30ea\u30fc\u30c8<\/strong><\/td>\n<td><strong>\u4f4f\u5b85\uff08\u30ec\u30b8\u30c7\u30f3\u30b7\u30e3\u30eb\uff09\u30ea\u30fc\u30c8<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span data-path-to-node=\"101,1,0,0\"><b data-path-to-node=\"101,1,0,0\" data-index-in-node=\"0\">\u4e3b\u306a\u5951\u7d04\u671f\u9593<\/b><\/span><\/td>\n<td><span data-path-to-node=\"101,1,1,0\"><b data-path-to-node=\"101,1,1,0\" data-index-in-node=\"0\">5\u301c10\u5e74\u4ee5\u4e0a<\/b>\uff08\u8d85\u9577\u671f\uff09<\/span><\/td>\n<td><span data-path-to-node=\"101,1,2,0\"><b data-path-to-node=\"101,1,2,0\" data-index-in-node=\"0\">2\u5e74\u7a0b\u5ea6<\/b>\uff08\u4e2d\u671f\uff09<\/span><\/td>\n<td><span data-path-to-node=\"101,1,3,0\"><b data-path-to-node=\"101,1,3,0\" data-index-in-node=\"0\">2\u5e74<\/b>\uff08\u77ed\u671f\u30fb\u666e\u901a\u501f\u5bb6\u304c\u591a\u3044\uff09<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"101,2,0,0\"><b data-path-to-node=\"101,2,0,0\" data-index-in-node=\"0\">\u8cc3\u6599\u306e\u6539\u5b9a\u30b9\u30d4\u30fc\u30c9<\/b><\/span><\/td>\n<td><span data-path-to-node=\"101,2,1,0\">\u9045\u3044\uff08\u671f\u9593\u4e2d\u306f\u56fa\u5b9a\u304c\u591a\u3044\uff09<\/span><\/td>\n<td><span data-path-to-node=\"101,2,2,0\"><b data-path-to-node=\"101,2,2,0\" data-index-in-node=\"0\">\u65e9\u3044<\/b>\uff08\u66f4\u65b0\u6642\u306b\u76f8\u5834\u53cd\u6620\uff09<\/span><\/td>\n<td><span data-path-to-node=\"101,2,3,0\">\u666e\u901a\uff08\u9000\u53bb\u6642\u306e\u518d\u52df\u96c6\u3067\u6539\u5b9a\uff09<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"101,3,0,0\"><b data-path-to-node=\"101,3,0,0\" data-index-in-node=\"0\">\u91d1\u5229\u30b3\u30b9\u30c8\u306e\u76f8\u6bba\u529b<\/b><\/span><\/td>\n<td><span data-path-to-node=\"101,3,1,0\">\u9577\u671f\u56fa\u5b9a\u501f\u5165\u306e\u8ca1\u52d9\u529b\u3067\u9632\u885b<\/span><\/td>\n<td><span data-path-to-node=\"101,3,2,0\"><b data-path-to-node=\"101,3,2,0\" data-index-in-node=\"0\">\u8cc3\u6599\u5897\u984d\uff08\u53ce\u5165\u5897\uff09\u3067\u76f4\u63a5\u76f8\u6bba<\/b><\/span><\/td>\n<td><span data-path-to-node=\"101,3,3,0\">\u5b89\u5b9a\u7a3c\u50cd\u3067\u7dad\u6301\uff08\u5927\u5e45\u5897\u984d\u306f\u56f0\u96e3\uff09<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"101,4,0,0\"><b data-path-to-node=\"101,4,0,0\" data-index-in-node=\"0\">\u521d\u671fNOI\u5229\u56de\u308a<\/b><\/span><\/td>\n<td><span data-path-to-node=\"101,4,1,0\">\u6bd4\u8f03\u7684\u4f4e\u3081\uff083.5\u301c4.5%\uff09<\/span><\/td>\n<td><span data-path-to-node=\"101,4,2,0\">\u3084\u3084\u9ad8\u3081\uff084.0\u301c5.0%\uff09<\/span><\/td>\n<td><span data-path-to-node=\"101,4,3,0\">\u3084\u3084\u4f4e\u3081\uff083.5\u301c4.5%\uff09<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"101,5,0,0\"><b data-path-to-node=\"101,5,0,0\" data-index-in-node=\"0\">\u666f\u6c17\u5f8c\u9000\u3078\u306e\u8010\u6027<\/b><\/span><\/td>\n<td><span data-path-to-node=\"101,5,1,0\"><b data-path-to-node=\"101,5,1,0\" data-index-in-node=\"0\">\u9ad8\u3044<\/b>\uff08\u9577\u671f\u5951\u7d04\u306b\u3088\u308a\u7dad\u6301\uff09<\/span><\/td>\n<td><span data-path-to-node=\"101,5,2,0\">\u4f4e\u3044\uff08\u7a7a\u5ba4\u7387\u4e0a\u6607\u30ea\u30b9\u30af\u3042\u308a\uff09<\/span><\/td>\n<td><span data-path-to-node=\"101,5,3,0\"><b data-path-to-node=\"101,5,3,0\" data-index-in-node=\"0\">\u6975\u3081\u3066\u9ad8\u3044<\/b>\uff08\u751f\u6d3b\u5fc5\u9700\u30a4\u30f3\u30d5\u30e9\uff09<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 data-path-to-node=\"102\">2. \u91d1\u5229\u4e0a\u6607\u5c40\u9762\u306b\u304a\u3051\u308b\u300c\u7269\u6d41\u30ea\u30fc\u30c8\u300d\u306e\u7279\u6027<\/h2>\n<ul data-path-to-node=\"103\">\n<li>\n<p data-path-to-node=\"103,0,0\"><b data-path-to-node=\"103,0,0\" data-index-in-node=\"0\">\u5f37\u307f\uff08\u8ca1\u52d9\u30b7\u30a7\u30eb\u30bf\u30fc\uff09<\/b>: \u30b9\u30dd\u30f3\u30b5\u30fc\u304c\u5927\u304d\u304f\u8ca1\u52d9\u57fa\u76e4\u304c\u5f37\u56fa\u306a\u305f\u3081\u3001\u501f\u5165\u306e\u9577\u5bff\u547d\u5316\uff08\u5e73\u5747\u6b8b\u5b58\u671f\u9593\u306e\u9577\u5316\uff09\u3068\u56fa\u5b9a\u91d1\u5229\u5316\u304c\u5fb9\u5e95\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u6025\u6fc0\u306a\u91d1\u5229\u4e0a\u6607\u304c\u8d77\u304d\u3066\u3082\u3001\u77ed\u671f\u7684\u306b\u306f\u5206\u914d\u91d1\u3078\u306e\u30c0\u30e1\u30fc\u30b8\u3092\u6700\u5c0f\u9650\u306b\u98df\u3044\u6b62\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"103,1,0\"><b data-path-to-node=\"103,1,0\" data-index-in-node=\"0\">\u5f31\u307f\uff08\u5024\u4e0a\u3052\u306e\u30bf\u30a4\u30e0\u30e9\u30b0\uff09<\/b>: \u30c6\u30ca\u30f3\u30c8\u3068\u306e\u5951\u7d04\u304c10\u5e74\u306a\u3069\u306e\u9577\u671f\u3067\u3042\u308b\u305f\u3081\u3001\u4e16\u306e\u4e2d\u304c\u30a4\u30f3\u30d5\u30ec\u30fb\u91d1\u5229\u4e0a\u6607\u306b\u306a\u3063\u3066\u3082\u3001\u5951\u7d04\u671f\u9593\u306e\u9014\u4e2d\u3067\u5373\u5ea7\u306b\u8cc3\u6599\u3092\u5f15\u304d\u4e0a\u3052\u308b\u3053\u3068\u304c\u96e3\u3057\u3044\u5074\u9762\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"104\">3. \u91d1\u5229\u4e0a\u6607\u5c40\u9762\u306b\u304a\u3051\u308b\u300c\u30aa\u30d5\u30a3\u30b9\u30ea\u30fc\u30c8\u300d\u306e\u7279\u6027<\/h2>\n<ul data-path-to-node=\"105\">\n<li>\n<p data-path-to-node=\"105,0,0\"><b data-path-to-node=\"105,0,0\" data-index-in-node=\"0\">\u5f37\u307f\uff08\u6a5f\u52d5\u7684\u306a\u30a4\u30f3\u30d5\u30ec\u8ee2\u5ac1\uff09<\/b>: \u5951\u7d04\u671f\u9593\u304c2\u5e74\u7a0b\u5ea6\u3068\u77ed\u3044\u305f\u3081\u3001\u300c\u597d\u666f\u6c17\u3092\u4f34\u3046\u91d1\u5229\u4e0a\u6607\uff08\u826f\u3044\u91d1\u5229\u4e0a\u6607\uff09\u300d\u306e\u5c40\u9762\u3067\u306f\u3001\u5951\u7d04\u66f4\u65b0\u306e\u305f\u3073\u306b\u5e02\u5834\u76f8\u5834\u306b\u5408\u308f\u305b\u3066\u8cc3\u6599\u3092\u6539\u5b9a\uff08\u5024\u4e0a\u3052\uff09\u3067\u304d\u307e\u3059\u3002\u5229\u6255\u3044\u8cbb\u7528\u306e\u5897\u52a0\u5206\u3092\u3001\u672c\u696d\u306e\u53ce\u5165\u5897\u3067\u30b9\u30d4\u30fc\u30c7\u30a3\u30fc\u306b\u6253\u3061\u6d88\u3059\u3053\u3068\u304c\u3067\u304d\u308b\u30a2\u30bb\u30c3\u30c8\u30af\u30e9\u30b9\u3067\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"105,1,0\"><b data-path-to-node=\"105,1,0\" data-index-in-node=\"0\">\u5f31\u307f\uff08\u666f\u6c17\u611f\u53d7\u6027\u306e\u9ad8\u3055\uff09<\/b>: \u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u3066\u666f\u6c17\u304c\u51b7\u3048\u8fbc\u3093\u3060\u5834\u5408\u3001\u4f01\u696d\u306e\u9000\u53bb\u3084\u30b9\u30da\u30fc\u30b9\u7e2e\u5c0f\u3001\u30d5\u30ea\u30fc\u30ec\u30f3\u30c8\uff08\u4e00\u5b9a\u671f\u9593\u306e\u8cc3\u4e0e\u7121\u6599\uff09\u306e\u8981\u6c42\u304c\u767a\u751f\u3057\u3001\u4e00\u6c17\u306b\u53ce\u76ca\u6027\u304c\u60aa\u5316\u3059\u308b\u30ea\u30b9\u30af\u3092\u62b1\u3048\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"106\">4. \u91d1\u5229\u4e0a\u6607\u5c40\u9762\u306b\u304a\u3051\u308b\u300c\u4f4f\u5b85\u30ea\u30fc\u30c8\u300d\u306e\u7279\u6027<\/h2>\n<ul data-path-to-node=\"107\">\n<li>\n<p data-path-to-node=\"107,0,0\"><b data-path-to-node=\"107,0,0\" data-index-in-node=\"0\">\u5f37\u307f\uff08\u5727\u5012\u7684\u306a\u7a3c\u50cd\u5b89\u5b9a\u5ea6\uff09<\/b>: \u666f\u6c17\u3084\u91d1\u5229\u306e\u52d5\u5411\u306b\u95a2\u308f\u3089\u305a\u3001\u4eba\u306f\u4f4f\u3080\u5834\u6240\u3092\u5fc5\u8981\u3068\u3059\u308b\u305f\u3081\u3001\u5e38\u306b98%\u4ee5\u4e0a\u306e\u975e\u5e38\u306b\u9ad8\u3044\u7a3c\u50cd\u7387\u304c\u7dad\u6301\u3055\u308c\u307e\u3059\u3002\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u4e88\u6e2c\u53ef\u80fd\u6027\u304c\u6700\u3082\u9ad8\u3044\u30a2\u30bb\u30c3\u30c8\u3067\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"107,1,0\"><b data-path-to-node=\"107,1,0\" data-index-in-node=\"0\">\u5f31\u307f\uff08\u5927\u5e45\u306a\u8cc3\u6599\u5024\u4e0a\u3052\u306e\u96e3\u3057\u3055\uff09<\/b>: \u500b\u4eba\u306e\u7d66\u4e0e\u6c34\u6e96\u306e\u4e0a\u6607\u304c\u4f34\u308f\u306a\u3044\u5c40\u9762\u3067\u7121\u7406\u306a\u8cc3\u6599\u5024\u4e0a\u3052\u3092\u884c\u3046\u3068\u9000\u53bb\u306b\u3064\u306a\u304c\u308b\u305f\u3081\u3001\u30aa\u30d5\u30a3\u30b9\u306e\u3088\u3046\u306b\u6025\u6fc0\u306b\u8cc3\u6599\u3092\u5f15\u304d\u4e0a\u3052\u3066\u91d1\u5229\u8ca0\u62c5\u5897\u3092\u4e0a\u56de\u308b\u6210\u9577\u3092\u72d9\u3046\u3053\u3068\u306f\u96e3\u3057\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"108\">5. \u91d1\u5229\u4e0a\u6607\u306e\u300c\u8cea\uff08\u80cc\u666f\uff09\u300d\u306b\u5fdc\u3058\u305f\u512a\u4f4d\u6027\u306e\u9055\u3044<\/h2>\n<p data-path-to-node=\"109\">\u6295\u8cc7\u5bb6\u304c\u3069\u306e\u30ea\u30fc\u30c8\u3092\u9078\u3076\u3079\u304d\u304b\u306f\u3001\u767a\u751f\u3057\u3066\u3044\u308b\u91d1\u5229\u4e0a\u6607\u306e\u300c\u80cc\u666f\u300d\u306b\u3088\u3063\u3066\u6c7a\u307e\u308a\u307e\u3059\u3002<\/p>\n<ol start=\"1\" data-path-to-node=\"110\">\n<li>\n<p data-path-to-node=\"110,0,0\"><b data-path-to-node=\"110,0,0\" data-index-in-node=\"0\">\u597d\u666f\u6c17\u30fb\u7d66\u4e0e\u5897\u3092\u4f34\u3046\u91d1\u5229\u4e0a\u6607\uff08\u826f\u3044\u91d1\u5229\u4e0a\u6607\uff09<\/b>:<\/p>\n<ul data-path-to-node=\"110,0,1\">\n<li>\n<p data-path-to-node=\"110,0,1,0,0\"><b data-path-to-node=\"110,0,1,0,0\" data-index-in-node=\"0\">\u30aa\u30d5\u30a3\u30b9\u30ea\u30fc\u30c8\u304c\u6700\u3082\u512a\u4f4d<\/b>\u3002\u4f01\u696d\u306e\u696d\u7e3e\u304c\u826f\u304f\u3001\u30aa\u30d5\u30a3\u30b9\u306e\u8cc3\u6599\u6539\u5b9a\u306b\u3088\u308bDPU\uff081\u53e3\u5206\u914d\u91d1\uff09\u306e\u6210\u9577\u304c\u671f\u5f85\u3067\u304d\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p data-path-to-node=\"110,1,0\"><b data-path-to-node=\"110,1,0\" data-index-in-node=\"0\">\u91d1\u878d\u653f\u7b56\u306e\u5909\u66f4\u3084\u30a4\u30f3\u30d5\u30ec\u5148\u884c\u306b\u3088\u308b\u6025\u6fc0\u306a\u91d1\u5229\u4e0a\u6607\uff08\u4e0d\u6cc1\u4e0b\u306e\u91d1\u5229\u4e0a\u6607\uff09<\/b>:<\/p>\n<ul data-path-to-node=\"110,1,1\">\n<li>\n<p data-path-to-node=\"110,1,1,0,0\"><b data-path-to-node=\"110,1,1,0,0\" data-index-in-node=\"0\">\u7269\u6d41\u30ea\u30fc\u30c8\u3084\u4f4f\u5b85\u30ea\u30fc\u30c8\u304c\u512a\u4f4d<\/b>\u3002\u9577\u671f\u56fa\u5b9a\u501f\u5165\u306e\u8ca1\u52d9\u9632\u885b\u529b\u3068\u3001\u9577\u671f\u5951\u7d04\u30fb\u9ad8\u7a3c\u50cd\u306b\u3088\u308b\u5b89\u5b9a\u3057\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u5f37\u307f\u3092\u767a\u63ee\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<h1 data-path-to-node=\"112\">\u7b2c9\u7ae0\uff1a\u91d1\u878d\u30fb\u6295\u8cc7\u77e5\u8b58\u3092\u8eab\u306b\u3064\u3051\u308b\u672c\u8cea\u7684\u306a\u91cd\u8981\u6027<\/h1>\n<p data-path-to-node=\"113\">GLP\u6295\u8cc7\u6cd5\u4eba\u3084J-REIT\u3068\u3044\u3046\u5177\u4f53\u7684\u306a\u91d1\u878d\u5546\u54c1\u3092\u901a\u3057\u3066\u898b\u3048\u3066\u304f\u308b\u6700\u3082\u91cd\u8981\u306a\u30c6\u30fc\u30de\u306f\u3001\u300c\u6295\u8cc7\u5bb6\u81ea\u8eab\u304c\u6b63\u3057\u304f\u4f53\u7cfb\u7684\u306a\u91d1\u878d\u30ea\u30c6\u30e9\u30b7\u30fc\u3092\u6301\u3064\u3053\u3068\u306e\u4e0d\u53ef\u6b20\u3055\u300d\u3067\u3059\u3002<\/p>\n<p data-path-to-node=\"0\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c70665899=\"\" class=\"ng-tns-c70665899-4125 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c70665899=\"\" class=\"code-block ng-tns-c70665899-4125 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl9jNzg4NzQ2NjYyMzRmZDE2IiwiY183OWQzMjQwYWU3ZGIxMzI5IixudWxsLCJyY182OWY1ODY2Yzg2YjNmYzUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c70665899=\"\" class=\"formatted-code-block-internal-container ng-tns-c70665899-4125\">\n<div _ngcontent-ng-c70665899=\"\" class=\"animated-opacity ng-tns-c70665899-4125\">\n<pre _ngcontent-ng-c70665899=\"\" class=\"ng-tns-c70665899-4125\"><code _ngcontent-ng-c70665899=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c70665899-4125 no-decoration-radius\">\u3010\u6295\u8cc7\u5224\u65ad\u306e\u8cea\u306e\u9032\u5316\u3011\r\n[\u77e5\u8b58\u304c\u306a\u3044\u6295\u8cc7\u5bb6]\r\n  \u2514\u2500&gt; \u300c\u5206\u914d\u91d1\u5229\u56de\u308a 5.5%\u300d\u3068\u3044\u3046\u8868\u9762\u306e\u6570\u5b57\u3060\u3051\u3092\u898b\u3066\u8cfc\u5165\r\n  \u2514\u2500&gt; \u91d1\u5229\u4e0a\u6607\u306e\u30cb\u30e5\u30fc\u30b9\u3084\u4e00\u6642\u7684\u306a\u4fa1\u683c\u4e0b\u843d\u3067\u30d1\u30cb\u30c3\u30af\u306b\u306a\u308a\u58f2\u5374\uff08\u5931\u6557\uff09\r\n\r\n[\u91d1\u878d\u30ea\u30c6\u30e9\u30b7\u30fc\u306e\u3042\u308b\u6295\u8cc7\u5bb6]\r\n  \u2514\u2500&gt; \u300c\u56fa\u5b9a\u91d1\u5229\u6bd4\u7387\u306f100%\u304b\uff1f\u300d\u300cLTV\u306f45%\u4ee5\u4e0b\u304b\uff1f\u300d\u300c\u5de1\u822aDPU\u304b\uff1f\u300d\u3092\u78ba\u8a8d\r\n  \u2514\u2500&gt; \u69cb\u9020\u3092\u7406\u89e3\u3057\u3066\u3044\u308b\u305f\u3081\u3001\u4e00\u6642\u7684\u306a\u4e0b\u843d\u5c40\u9762\u3067\u3082\u51b7\u9759\u306b\u8cb7\u3044\u5897\u3057\u5224\u65ad\u304c\u3067\u304d\u308b\uff08\u6210\u529f\uff09\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h2 data-path-to-node=\"115\">1. \u8868\u9762\u7684\u306a\u6570\u5b57\u306b\u9a19\u3055\u308c\u306a\u3044\u8996\u70b9<\/h2>\n<p data-path-to-node=\"116\">\u91d1\u878d\u77e5\u8b58\u304c\u306a\u3044\u72b6\u614b\u3067\u306f\u3001\u300c\u5229\u56de\u308a\u304c6%\u3060\u304b\u3089\u826f\u3055\u305d\u3046\u3060\u300d\u300c\u4fa1\u683c\u304c\u4e0b\u304c\u3063\u3066\u3044\u308b\u304b\u3089\u304a\u5f97\u3060\u300d\u3068\u3044\u3063\u305f\u76f4\u611f\u3084\u8868\u9762\u7684\u306a\u6570\u5024\u3060\u3051\u3067\u5224\u65ad\u3057\u3066\u3057\u307e\u3044\u304c\u3061\u3067\u3059\u3002<\/p>\n<p data-path-to-node=\"117\">\u3057\u304b\u3057\u3001\u672c\u8cea\u7684\u306a\u77e5\u8b58\u3092\u5099\u3048\u305f\u6295\u8cc7\u5bb6\u306f\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u591a\u89d2\u7684\u306a\u691c\u8a3c\u3092\u81ea\u52d5\u7684\u306b\u884c\u3044\u307e\u3059\u3002<\/p>\n<ul data-path-to-node=\"118\">\n<li>\n<p data-path-to-node=\"118,0,0\">\u300c\u306a\u305c\u3053\u306e\u5229\u56de\u308a\u306a\u306e\u304b\uff1f\uff08\u4e00\u6642\u7684\u306a\u7269\u4ef6\u58f2\u5374\u76ca\u306b\u3088\u308b\u5e95\u4e0a\u3052\u306f\u306a\u3044\u304b\uff1f\uff09\u300d<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"118,1,0\">\u300c\u501f\u5165\u91d1\u306e\u56fa\u5b9a\u91d1\u5229\u6bd4\u7387\u3068\u5e73\u5747\u8fd4\u6e08\u671f\u9593\uff08\u30e9\u30c0\u30fc\uff09\u306f\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u304b\uff1f\u300d<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"118,2,0\">\u300cNAV\u500d\u7387\u304c1.0\u500d\u3092\u5272\u3063\u3066\u3044\u308b\u304c\u3001\u4fdd\u6709\u7269\u4ef6\u306e\u542b\u307f\u76ca\u3092\u8003\u3048\u308c\u3070\u5b9f\u8cea\u7684\u306b\u3069\u308c\u3060\u3051\u5272\u5b89\u304b\uff1f\u300d<\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"119\">\u30de\u30cd\u30fc\u30ea\u30c6\u30e9\u30b7\u30fc\u3068\u306f\u5358\u306a\u308b\u7528\u8a9e\u306e\u6697\u8a18\u3067\u306f\u306a\u304f\u3001\u300c\u91d1\u878d\u5546\u54c1\u306e\u88cf\u5074\u306b\u3042\u308b\u4ed5\u7d44\u307f\u3068\u30ea\u30b9\u30af\u306e\u6240\u5728\u3092\u898b\u629c\u304d\u3001\u81ea\u3089\u306e\u982d\u3067\u6b63\u3057\u304f\u8a55\u4fa1\u3059\u308b\u529b\u300d\u306e\u3053\u3068\u3067\u3059\u3002<\/p>\n<h2 data-path-to-node=\"120\">2. \u30e9\u30a4\u30d5\u30b9\u30c6\u30fc\u30b8\u3068\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u306b\u5fdc\u3058\u305f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u69cb\u7bc9<\/h2>\n<p data-path-to-node=\"121\">\u4e07\u4eba\u306b\u5171\u901a\u3059\u308b\u300c\u7d76\u5bfe\u7684\u306a\u6b63\u89e3\u306e\u9298\u67c4\u300d\u306f\u5b58\u5728\u3057\u307e\u305b\u3093\u3002\u81ea\u5206\u81ea\u8eab\u306e\u5e74\u9f62\u3001\u8cc7\u7523\u898f\u6a21\u3001\u76ee\u7684\u306b\u5408\u308f\u305b\u3066\u30a2\u30bb\u30c3\u30c8\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\uff08\u8cc7\u7523\u914d\u5206\uff09\u3092\u30c7\u30b6\u30a4\u30f3\u3059\u308b\u77e5\u8b58\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n<ul data-path-to-node=\"122\">\n<li>\n<p data-path-to-node=\"122,0,0\"><b data-path-to-node=\"122,0,0\" data-index-in-node=\"0\">\u8cc7\u7523\u5f62\u6210\u671f\uff0820\u4ee3\u301c40\u4ee3\uff09<\/b>:<\/p>\n<p data-path-to-node=\"122,0,0\">\u5168\u984d\u3092J-REIT\u306b\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u6210\u9577\u6027\u306e\u9ad8\u3044\u5168\u4e16\u754c\u682a\u5f0f\uff08\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u30d5\u30a1\u30f3\u30c9\u306a\u3069\uff09\u3092\u8ef8\u306b\u3057\u3064\u3064\u3001\u5206\u914d\u91d1\u3092\u5f97\u308b\u6210\u529f\u4f53\u9a13\u3068\u3057\u3066GLP\u6295\u8cc7\u6cd5\u4eba\u306a\u3069\u306e\u512a\u826f\u30ea\u30fc\u30c8\u3092\u4e00\u90e8\u7d44\u307f\u8fbc\u3080\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"122,1,0\"><b data-path-to-node=\"122,1,0\" data-index-in-node=\"0\">\u8cc7\u7523\u7dad\u6301\u30fb\u5b9a\u671f\u53ce\u5165\u91cd\u8996\uff0850\u4ee3\u4ee5\u964d\u30fb\u30ea\u30bf\u30a4\u30a2\u671f\uff09<\/b>:<\/p>\n<p data-path-to-node=\"122,1,0\">\u4fa1\u683c\u5909\u52d5\u30ea\u30b9\u30af\u3092\u6291\u3048\u3064\u3064\u6bce\u6708\u30fb\u9694\u6708\u306e\u73fe\u91d1\u53ce\u5165\uff08\u30a4\u30f3\u30ab\u30e0\u30b2\u30a4\u30f3\uff09\u3092\u78ba\u5b9a\u3055\u305b\u308b\u305f\u3081\u3001GLP\u6295\u8cc7\u6cd5\u4eba\u306e\u3088\u3046\u306a\u8ca1\u52d9\u304c\u5f37\u56fa\u306aJ-REIT\u3084\u56fd\u50b5\u306e\u6bd4\u7387\u3092\u9ad8\u3081\u3001\u5e74\u91d1\u306e\u88dc\u5b8c\u3068\u3057\u3066\u6d3b\u7528\u3059\u308b\u3002<\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"123\">\u77e5\u8b58\u3092\u8eab\u306b\u3064\u3051\u308b\u3053\u3068\u3067\u3001SNS\u306e\u60c5\u5831\u3084\u5e02\u5834\u306e\u30ce\u30a4\u30ba\u306b\u53f3\u5f80\u5de6\u5f80\u3059\u308b\u3053\u3068\u306a\u304f\u3001\u81ea\u5206\u306e\u8cc7\u7523\u3092\u5b88\u308a\u80b2\u3066\u3066\u3044\u304f\u3053\u3068\u304c\u53ef\u80fd\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<h1 data-path-to-node=\"125\">\u7b2c10\u7ae0\uff1a\u307e\u3068\u3081\u3068\u521d\u5fc3\u8005\u6295\u8cc7\u5bb6\u3078\u306e\u5177\u4f53\u7684\u306a\u30a2\u30af\u30b7\u30e7\u30f3<\/h1>\n<p data-path-to-node=\"126\">\u672c\u8a18\u4e8b\u3067\u306f\u3001GLP\u6295\u8cc7\u6cd5\u4eba\uff083281\uff09\u3092\u8ef8\u306b\u3001J-REIT\u306e\u57fa\u790e\u304b\u3089\u91d1\u5229\u8010\u6027\u306e\u5206\u6790\u3001\u30a2\u30bb\u30c3\u30c8\u30af\u30e9\u30b9\u6bd4\u8f03\u307e\u3067\u3092\u7db2\u7f85\u7684\u306b\u89e3\u8aac\u3057\u307e\u3057\u305f\u3002<\/p>\n<h3 data-path-to-node=\"127\">\u672c\u8a18\u4e8b\u306e\u30dd\u30a4\u30f3\u30c8\u5fa9\u7fd2<\/h3>\n<ol start=\"1\" data-path-to-node=\"128\">\n<li>\n<p data-path-to-node=\"128,0,0\"><b data-path-to-node=\"128,0,0\" data-index-in-node=\"0\">GLP\u6295\u8cc7\u6cd5\u4eba<\/b>\u306f\u3001\u65e5\u672cGLP\u3092\u30b9\u30dd\u30f3\u30b5\u30fc\u3068\u3059\u308b\u696d\u754c\u6700\u5927\u7d1a\u306e\u5148\u9032\u7684\u7269\u6d41\u30ea\u30fc\u30c8\u3067\u3042\u308a\u3001\u9ad8\u3044\u5206\u914d\u91d1\u5229\u56de\u308a\u3068\u9577\u671f\u5b89\u5b9a\u7684\u306a\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u9b45\u529b\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"128,1,0\"><b data-path-to-node=\"128,1,0\" data-index-in-node=\"0\">\u898b\u6975\u3081\u306e\u30b3\u30a2\u6307\u6a19<\/b>\u306f\u3001\u300cNAV\u500d\u7387\uff08\u5272\u5b89\u5ea6\uff09\u300d\u300c\u5de1\u822aDPU\uff08\u5b9f\u529b\u5024\u306e\u5206\u914d\u91d1\uff09\u300d\u300cLTV\uff08\u8ca1\u52d9\u5065\u5168\u6027\uff09\u300d\u300c\u56fa\u5b9a\u91d1\u5229\u6bd4\u7387\uff08\u91d1\u5229\u8010\u6027\uff09\u300d\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"128,2,0\"><b data-path-to-node=\"128,2,0\" data-index-in-node=\"0\">\u91d1\u5229\u4e0a\u6607\u5c40\u9762<\/b>\u3067\u306f\u3001\u9577\u671f\u56fa\u5b9a\u501f\u5165\u3067\u30b3\u30b9\u30c8\u5897\u3092\u30ac\u30fc\u30c9\u3059\u308b\u300c\u7269\u6d41\u30ea\u30fc\u30c8\u300d\u3068\u3001\u77ed\u3044\u66f4\u65b0\u30b5\u30a4\u30af\u30eb\u3067\u8cc3\u6599\u5024\u4e0a\u3052\u3092\u884c\u3046\u300c\u30aa\u30d5\u30a3\u30b9\u30ea\u30fc\u30c8\u300d\u306e\u7279\u6027\u3092\u7406\u89e3\u3057\u3066\u7d44\u307f\u5408\u308f\u305b\u308b\u3053\u3068\u304c\u6709\u52b9\u3002<\/p>\n<\/li>\n<\/ol>\n<h3 data-path-to-node=\"129\">\u6b21\u306e\u4e00\u6b69\uff1a\u6295\u8cc7\u5bb6\u3068\u3057\u3066\u306e\u6700\u521d\u306e\u30a2\u30af\u30b7\u30e7\u30f3<\/h3>\n<p data-path-to-node=\"130\">\u7406\u8ad6\u3092\u5b66\u3093\u3060\u5f8c\u306f\u3001\u5b9f\u969b\u306b\u5c0f\u3055\u306a\u30a2\u30af\u30b7\u30e7\u30f3\u3092\u8d77\u3053\u3057\u3066\u307f\u308b\u3053\u3068\u304c\u7406\u89e3\u3092\u6df1\u3081\u308b\u8fd1\u9053\u3067\u3059\u3002<\/p>\n<ol start=\"1\" 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