Hulic Reit

What Hulic Reit does

Hulic Reit, Inc. (ヒューリックリート投資法人, ticker 3295) is a Japanese Real Estate Investment Trust established in February 2014 and listed on the Tokyo Stock Exchange infrastructure fund market in October 2014. It is sponsored by Hulic Co., Ltd. (ヒューリック株式会社), one of Japan's leading commercial real estate operators, with Hulic Reit Management Co., Ltd. (ヒューリックリートマネジメント株式会社), a wholly owned subsidiary of the sponsor, serving as the licensed asset management company.

The trust invests in a diversified portfolio of 63 income-producing properties totaling approximately ¥424,195 million in acquisition price (as of June 30, 2026) and spanning five asset classes: office buildings, commercial/retail facilities, hotel properties, healthcare and senior housing facilities, and green-building-certified assets. Geographically, the portfolio is concentrated in the Tokyo metropolitan area (Kanto Region), with a stated focus on central Tokyo submarkets such as Otemachi, Marunouchi, and Nihonbashi. Portfolio occupancy stood at 99.7% as of June 2026.

The trust's revenue model is straightforward rental income: it leases office, retail, hotel, and healthcare properties to tenants and distributes the resulting cash flow to unitholders twice per year (semi-annually) under the Japanese tax pass-through regime for investment corporations. Operating revenue for the 24th fiscal period (ending February 2026) was ¥12,653 million, generating operating profit of ¥7,008 million and an ordinary profit of ¥6,060 million; the corresponding distribution per unit was 4,050 yen, with the same level forecast for the next two periods. Distribution to investors occurs through any securities firm with TSE access (Mizuho, Daiwa, SMBC Nikko, Nomura, Morgan Stanley MUFG, etc.), supported by extensive IR activity including earnings briefings, individual investor meetings, and industry events such as the ARES J-REIT Fair and Daiwa J-REIT Caravan. ESG capability is a meaningful strategic axis: Hulic Reit holds a GRESB 4 Star rating with 9 consecutive Green Star designations, 7 consecutive 'A' GRESB Disclosure grades, an SBTi standard-version GHG reduction certification (first J-REIT, November 2024), a CDP Climate Change 'B' score, and JCR 'Green 1' / 'SU 1(F)' ratings on its 2022 green bond and sustainability finance framework.

Name

Hulic Reit

Legal name

Hulic Reit, Inc.

Website

https://hulic-reit.co.jp

Company type

Public

Founded year

2014

Operating status

Operating

Short description

Hulic Reit is a Tokyo-listed Japanese REIT (ticker 3295), sponsored by Hulic Co., Ltd., that owns 63 income-producing office, retail, hotel, and healthcare properties in the Tokyo metropolitan area and pays semi-annual rental-income distributions to unitholders on the Tokyo Stock Exchange.

Ownership category

akta.pro rank

Product category

Real Estate Investment Trust (J-REIT)

NAICS

Finance and Insurance (52), Rental and Leasing Services (532)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

akta.pro secondary industries

Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH), Independent Living Real Estate Owners/Operators (REITs & Management Companies) (HLADAAAG)

Keywords

• Real estate investment trust
• Commercial property leasing
• Office building investment
• Hotel property investment
• J-reit portfolio

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Real Estate Rental Income: Hulic Reit generates revenue primarily through leasing office buildings, commercial facilities, and hotel properties to tenants. The company reported operating revenue of 12,653 million yen for the 24th fiscal period (ending February 2026), with operating profit of 7,008 million yen and ordinary profit of 6,060 million yen.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Hulic Reit (ヒューリックリート投資法人) is a Japanese Real Estate Investment Trust (J-REIT) listed on the Tokyo Stock Exchange (ticker 3295) that acquires, owns, and leases a diversified portfolio of 63 properties—including office buildings, commercial/retail facilities, hotels, and healthcare/senior housing facilities—primarily located in central Tokyo (Otemachi, Marunouchi, Nihonbashi) and other urban areas. The REIT earns rental income from tenant leases and distributes it semi-annually to unitholders, with the 24th fiscal period (February 2026) delivering ¥4,050 per unit.

Product overview

Hulic Reit is a Japanese Real Estate Investment Trust (J-REIT) that operates as a single, unified investment vehicle focused on diversified real estate ownership. The portfolio spans five core asset categories: office buildings, commercial/retail facilities, hotel properties, healthcare and senior housing facilities, and green building certified properties. As of June 2026, the REIT holds 63 properties with a combined acquisition price of approximately ¥424 billion and 99.7% occupancy rate. The investment strategy emphasizes Tokyo metropolitan area assets with high environmental certification ratios, leveraging the sponsor support from Hulic Co., Ltd.

Differentiator

Problem solved

Functional benefit

Products and services

• Office and Commercial Properties Investment Investment in office buildings and commercial/retail facilities located primarily in central Tokyo (Otemachi, Marunouchi, Nihonbashi) and other major urban areas, generating rental income through corporate, retail, and mixed-use tenant leases.
• Hotel Properties Investment Investment in hotel properties including business hotels and resort hotels, generating rental revenue through hotel operators in urban centers.
• Healthcare and Senior Housing Facilities Investment Investment in senior housing facilities including nursing homes and assisted living facilities, typically operated by third-party operators under lease arrangements.
• Green Bond Issuance Program Green bond debt issuance under a JCR Green 1 (highest) framework, financing eligible green building assets within Hulic Reit's portfolio.

Quantifiable outcome

• 99.7% portfolio occupancy rate as of June 30, 2026
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Hulic Co., Ltd. (ヒューリック株式会社)coreStrategic or Co-development Partner · 1 February 2014Hulic Co., Ltd. serves as the sponsor for Hulic Reit. The sponsor relationship provides a pipeline for property acquisitions and supports the asset recycling model through which Hulic transfers assets to the REIT. The collaboration enables Hulic Reit to access Hulic's real estate development capabilities and tenant networks across office, retail, and hotel segments.
• Hulic Reit Management Co., Ltd. (ヒューリックリートマネジメント株式会社)coreStrategic or Co-development Partner · 1 February 2014Hulic Reit Management Co., Ltd. is the asset management company responsible for managing Hulic Reit's portfolio. It is a wholly owned subsidiary of Hulic Co., Ltd. The company handles investment decisions, property management oversight, financing strategy, and ESG implementation for the REIT.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Comforia Residential REIT: Tokyo-centric residential J-REIT. Comparable as a Tokyo-focused J-REIT competing for similar institutional unitholders, though its asset class is residential rather than commercial.

Direct peers

• Kenedix Office Investment Corporation: Office-focused J-REIT with Tokyo concentration. Comparable as a mid-cap J-REIT with overlapping office tenant base and similar TSE-listed investor dynamics.
• Nippon Building Fund (NBF): Japan's largest office-focused J-REIT listed on TSE. Directly comparable as a Tokyo-centric, office-heavy J-REIT with a similar sponsor-pipeline model and investor base.
• Mori Hills REIT Investment Corporation: Tokyo premium-office J-REIT sponsored by Mori Building with a portfolio heavily concentrated in central Tokyo. Comparable on asset class, geography, and high-grade sponsor pipeline dynamics.
• Japan Real Estate Investment Corporation (JRE): One of the original J-REITs focused on office properties in central Tokyo. Directly comparable given similar asset class, Tokyo concentration, and institutional unitholder base.
• Front Real Estate Investment Corporation: Mid-sized J-REIT with a portfolio focused on office and retail in urban areas including Tokyo. Comparable on asset class mix (office + retail) and J-REIT market positioning.

Broad incumbents

• Sekisui House REIT: Diversified J-REIT sponsored by Sekisui House covering residential, office, and retail. Comparable as a sponsor-backed, diversified J-REIT with a similar Tokyo-leaning portfolio mix.
• Nippon Prologis REIT: Largest logistics-focused J-REIT in Japan sponsored by Prologis. Comparable as a leading J-REIT with a strong sponsor pipeline, though its asset class differs (logistics vs Hulic's mixed office/retail/hotel).
• Daiwa House REIT Investment Corporation: Diversified J-REIT sponsored by Daiwa House covering logistics, retail, and residential. Comparable as a leading diversified J-REIT with strong sponsor support and similar investor base.

Others

• Hulic Co., Ltd. (Sponsor/Parent): Hulic Reit's strategic sponsor and parent of the asset management company. Not a competitor but the upstream originator of pipeline assets and a key counterparty in the asset-recycling model that drives Hulic Reit's external growth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hulic Reit