Hankyu REIT, Inc.

(As of November 30, 2011)

Code	Name	Location	Year completed	Leasable area (m²) (Note 1)	PML (Note 2)	Date of acquisition	Acquisit. price (millions of yen)	Invest. ratio
Retail-se facilities
R1 (K)	HEP Five (Hankyu Five Building)	Kita Ward, Osaka City	1998	20,370.13 (9,510.90)	4.6%	February 1, 2005	20,790	17.1%
R2 (K)	Kitano Hankyu Building	Kita Ward, Osaka City	1985	28,194.15 (18,477.35)	10.1%	February 1, 2005	7,740	6.4%
R3 (K)	Dew Hankyu Yamada (Yamada Nishi Hankyu Bldg.)	Suita City, Osaka Prefecture	2003	12,982.19	4.5%	February 1, 2005	6,930	5.7%
R4 (K)	Takatsuki-Josai Shopping Center	Takatsuki City, Osaka Prefecture	2003	31,451.81	6.1%	November 15, 2005	8,600	7.1%
R5 (K)	Nitori Ibaraki-Kita Store (site)	Ibaraki City, Osaka Prefecture	-	6,541.31	-	March 29, 2006	1,318	1.1%
R6	Kohnan Hiroshima Nakano-Higashi Store (site)	Aki Ward, Hiroshima City	-	25,529.73	-	October 2, 2006	2,175	1.8%
R7 (K)	NU chayamachi	Kita Ward, Osaka City	2005	15,546.75 (11,626.65)	4.5%	March 15, 2007	19,300	15.9%
R8	Hotel Gracery Tamachi	Minato Ward, Tokyo	2008	4,943.66	10.2%	December 25, 2008	4,160	3.4%
R9 (K)	LaLaport KOSHIEN (site)	Nishinomiya City, Hyogo Prefecture	-	126,052.16	6.0% (Note 4)	January 22, 2009	7,350	6.1%
R10	Richmond Hotel Hamamatsu	Naka Ward, Hamamatsu City	2002	6,995.33	13.9%	January 22, 2009	2,100	1.7%
Office-use facilities
O1	Shiodome East Side Building	Chuo Ward, Tokyo	2007	9,311.32	4.6%	February 29, 2008	19,025	15.7%
Complex facilities
M1 (K)	Ueroku F Building	Chuo Ward, Osaka City	1993	4,611.82	3.2%	November 1, 2005	2,980	2.5%
M2	Sphere Tower Tennoz	Shinagawa Ward, Tokyo	1993 (Note 3)	8,807.71	2.7%	October 2, 2007	9,405	7.8%
M3 (K)	LAXA Osaka	Fukushima Ward, Osaka City	1999	30,339.91	3.4%	January 22, 2009	5,122	4.2%
M4 (K)	Namba-Hanshin Building	Chuo Ward, Osaka City	1992	9,959.01 (6,456.88)	4.5%	January 22, 2009	4,310	3.6%
Total				341,637.00 (313,638.74)	3.2%	-	121,306	100.0%

(Note 1) Numbers in parenthesis indicate the leasable area for end-tenants. In the case of HEP Five, 45% quasi co-ownership of the trust beneficiary interests is listed as the leasable area. For Sphere Tower Tennoz, 33% quasi co-ownership of the trust beneficiary interests is listed as the leasable area.

(Note 2) Probable Maximum Loss from earthquake.

(Note 3) The year of completion for the office and store portions.

(Note 4) Figures of LaLaport KOSHIEN indicates PML of the parking garage space(394.88m²) portion .

In addition to the assets shown above, we own an investment interest in anonymous association issued by Bay Leaf Funding GK, which owns trust beneficiary interests of AEON MALL SakaiKitahanada (site), the targeted real estate under the trust. For further details related to the investment interest in anonymous association, please refer to the press releases titled “Notice Concerning Conclusion of Agreement on Acquisition of Assets (Investment Interest in Anonymous Association),” released on June 9, 2011, and “Notice Concerning Finalization of Details on Acquisition of Assets (Investment Interest in Anonymous Association),” released on June 23, 2011.

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