Japanese Automobiles Property Play

CPN Retail Growth Leasehold REIT

Market Cap: ฿41.3b

CPN Retail Growth Leasehold REIT (“CPNREIT”) was established on 1 December 2017 from the conversion from CPN Retail Growth Leasehold Property Fund (“CPNRF”).

Lendlease Global Commercial REIT

Market Cap: S$1.6b

Listed on 2 October 2019, Lendlease Global Commercial REIT (“LREIT”) is established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of stabilised income-producing real estate assets located globally, which are used primarily for retail and/or office purposes.

UMH Properties

Market Cap: US$1.2b

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that currently owns and operates 144 manufactured home communities containing approximately 26,800 developed homesites, of which 10,600 contain rental homes, and over 1,000 self-storage units.

Japan Excellent

Market Cap: JP¥190.0b

Japan Excellent, Inc. (hereinafter, “JEI”), established on February 20, 2006 under the Law Concerning Investment Trusts and Investment Corporations of Japan (the “Investment Trust Law”), is a real estate investment corporation which primarily invests in office buildings.

Abacus Storage King

Market Cap: AU$1.9b

Owns, operates, and manages a self-storage operating platform in Australia and New Zealand.

Alexander & Baldwin

Market Cap: US$1.2b

Alexander & Baldwin, Inc. (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers.

Mitsubishi Estate Logistics REIT Investment

Market Cap: JP¥184.7b

Mitsubishi Estate Logistics REIT Investment Corporation (“MEL”) was established on July 14, 2016 under the “Act on Investment Trust and Investment Corporation” (“Investment Trust Law”), and was listed on the REIT Securities Market of the Tokyo Stock Exchange on September 14, 2017 (securities code: 3481).

Alexander's

Market Cap: US$1.2b

Alexander’s, Inc. is a real estate investment trust (REIT) engaged in leasing, managing, developing and redeveloping properties.

Ronesans Gayrimenkul Yatirim

Market Cap: ₺50.1b

Operates as the commercial real estate development and investment company in Türkiye.

Waypoint REIT

Market Cap: AU$1.8b

Waypoint REIT is Australia’s largest listed REIT owning solely fuel and convenience retail properties; it has a high-quality network across all Australian States and mainland Territories.

Mercialys

Market Cap: €1.0b

Mercialys is one of France’s leading real estate companies.

Vivenio Residencial SOCIMI

Market Cap: €995.6m

Acquires, develops, and manages residential properties for renting in Spain.

NIPPON REIT Investment

Market Cap: JP¥175.8b

NIPPON REIT was established on September 8, 2010, by Polaris Investment Advisors K.K.

Hyprop Investments

Market Cap: R19.6b

Hyprop is a South African based specialist retail property fund with high-quality portfolios in South Africa and Eastern Europe, and is listed on the Johannesburg Stock Exchange (JSE) and A2X as a Real Estate Investment Trust (REIT) with a market capitalisation at 30 June 2025 of R17.1bn.

MÉXICO INFRASTRUCTURE PARTNERS F1P.I. DE

Market Cap: Mex$21.0b

n/a

Easterly Government Properties

Market Cap: US$1.1b

Easterly Government Properties, Inc. (NYSE: DEA) is based in Washington, D.C., and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S.

Safehold

Market Cap: US$1.1b

Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings.

Retail Estates

Market Cap: €954.2m

A Belgian public real estate investment trust and is a niche player specialised in making out-of town retail properties located on the periphery of residential areas or along main access roads to urban centres available to users.

Xp Malls Fundo Investimentos Imobiliarios

Market Cap: R$5.9b

n/a

SK Reits

Market Cap: ₩1.6t

Operates as a real estate investment trust.

Fukuoka REIT

Market Cap: JP¥166.8b

The Investment Corporation was established on July 2, 2004 as Japan's first region-focused real estate investment trust in accordance with the Act on Investment Trusts and Investment Corporations (Act No.

Castellana Properties Socimi

Market Cap: €938.1m

As of December 20, 2016, Castellana Properties Socimi, S.A.

Star Asia Investment

Market Cap: JP¥166.1b

Star Asia Investment Corporation (SAR) was established as a diversified real estate investment trust on December 1, 2015, under the Act on Investment Trusts and Investment Corporations (Act No.

Saul Centers

Market Cap: US$1.1b

As of March 31, 2025, 93.9% of the commercial portfolio was leased compared to 94.6% as of March 31, 2024.

CapitaLand China Trust

Market Cap: S$1.4b

CapitaLand China Trust (CLCT) is Singapore’s largest China-focused real estate investment trust (REIT).

Frey

Market Cap: €918.4m

Engages in developing, owning, and managing commercial real estate assets primarily located in France.

Workspace Group

Market Cap: UK£796.9m

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.3 million sq.

Centerspace

Market Cap: US$1.1b

An owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others.

NTT DC REIT

Market Cap: US$1.1b

Primarily invests in data center assets owned and operated by NTT DATA.

Piedmont Realty Trust

Market Cap: US$1.0b

Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in the Sunbelt.

RLJ Lodging Trust

Market Cap: US$1.0b

RLJ Lodging Trust ("RLJ") is a self-advised, publicly traded real estate investment trust that owns 94 premium-branded, rooms-oriented, high-margin, urban-centric hotels located within the heart of demand locations.

Starhill Global Real Estate Investment Trust

Market Cap: S$1.4b

Starhill Global REIT is a Singapore-based real estate investment trust investing primarily in real estate used for retail and office purposes, both in Singapore and overseas.

Diversified Healthcare Trust

Market Cap: US$1.0b

DHC is a real estate investment trust focused on owning high-quality healthcare properties located throughout the United States.

Ticon Freehold and Leasehold Real Estate Investment Trust

Market Cap: ฿33.8b

A real estate investment trust externally managed by TICON Management Company Limited.

Hoshino Resorts REIT

Market Cap: JP¥157.5b

Hoshino Resorts REIT, Inc. (hereinafter, “HRR”) invests in hotels, ryokans (Japanese-style inns) and ancillary facilities that serve at the core of the tourism industry and for which stable use is expected for the medium to long term.

Arena REIT

Market Cap: AU$1.6b

An ASX200 listed property group that develops, owns and manages social infrastructure properties across Australia.