Investment Policy
The Investment Policy of the Astro Group is designed to maintain and enhance securityholder returns. The main elements of this policy are:
- Acquire interest in properties which:
- are expected to provide sustainable earnings;
- offer opportunities to create securityholder value including through redevelopment, repositioning and applying more pro-active and cost-effective asset management; or
- are development projects where the risks associated with such projects can be reasonably mitigated through joint ventures, pre-commitments from tenants or other measures.
- Hold interests in property in the form of:
- Trust Beneficiary Interest;
- ownership of legal title;
- lessee under a long-term lease;
- investment through one or more contractual relationships which hold assets in the form of Trust Beneficiary Interest, ownership of legal title or as lessee under a long-term lease; or
- ownership directly or indirectly of shares in a special purpose vehicle.
- Properties are to be acquired at no more than fair market value as determined by an independent qualified Japanese property appraiser.
- All acquisitions shall be subject to due diligence on the properties, consistent with prudent Japanese market practice, in particular to ensure that each property has no material:
- compliance or statutory problems;
- unmitigated environmental problems;
- issues related to title or survey; and
- legal impediments which may prevent ownership being transferred.
- The Astro Group will review its Investment Policy from time to time and may amend its policy