As the first region-specific REIT in Japan, Fukuoka REIT Corporation (here in after "FRC") became the 17th listed J-REIT on June 21, 2005. Its assets under management, which totaled 73.5 billion yen upon listing (based on acquisition price), have more than doubled from the initial size to date.
In 2005, when all of the listed J-REITs were headquartered in Tokyo, Japan's first region-specific REIT was born in Kyushu, ahead of Nagoya and Osaka. That J-REIT was FRC, created with the intention of drawing funds to the region by introducing regional blue-chip properties to investors around the world.
Fukuoka Realty Co., Ltd., the asset manager of FRC, is jointly sponsored by powerful companies leading the Kyushu business world, which have established a strong backup framework.
Upon listing, FRC set up its management philosophy as a region-specific REIT of "Act Local, Think Global," which has been inherited to date.