{"id":29232,"date":"2023-10-31T09:00:00","date_gmt":"2023-10-31T00:00:00","guid":{"rendered":"https:\/\/t23m-navi.jp\/magazine\/?p=29232"},"modified":"2023-10-30T20:47:18","modified_gmt":"2023-10-30T11:47:18","slug":"reit_merit_demerit","status":"publish","type":"post","link":"https:\/\/t23m-navi.jp\/magazine\/investment\/reit_merit_demerit\/","title":{"rendered":"\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\uff08REIT\uff09\u3068\u306f\uff1f\u4f53\u9a13\u8ac7\u3084\u4ed5\u7d44\u307f\u3001\u30e1\u30ea\u30c3\u30c8\u30fb\u30c7\u30e1\u30ea\u30c3\u30c8\u3092\u89e3\u8aac\uff01"},"content":{"rendered":"\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f\u3001\u6295\u8cc7\u5bb6\u304b\u3089\u96c6\u3081\u305f\u8cc7\u91d1\u306a\u3069\u3067\u4e0d\u52d5\u7523\u6295\u8cc7\u6cd5\u4eba\u304c\u4e0d\u52d5\u7523\u3092\u8cfc\u5165\u3057\u8cb8\u3057\u51fa\u3059\u3053\u3068\u3067\u53ce\u76ca\u3092\u5f97\u3066\u3001\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u304c\u8cc7\u7523\u904b\u7528\u30fb\u7ba1\u7406\u3092\u62c5\u3044\u53ce\u76ca\u304b\u3089\u7d4c\u8cbb\u30fb\u624b\u6570\u6599\u3092\u5dee\u3057\u5f15\u304d\u3001\u6295\u8cc7\u5bb6\u306b\u5229\u76ca\u3092\u5206\u914d\u3059\u308b\u4ed5\u7d44\u307f\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u3092\u8a3c\u5238\u5316\u3057\u305f\u3082\u306e\u3067\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u3088\u308a\u3082\u5c11\u984d\u304b\u3089\u6295\u8cc7\u304c\u3067\u304d\u307e\u3059\u304c\u30a4\u30f3\u30d5\u30ec\u306b\u5f37\u3044\u3068\u3044\u308f\u308c\u308b<strong><span class=\"swl-inline-color has-swl-deep-01-color\">\u300c\u5b9f\u7269\u8cc7\u7523\u300d\u3068\u3057\u3066\u4e0d\u52d5\u7523\u3092\u4fdd\u6709\u3059\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/span><\/strong><\/p>\n\n\n\n<p>\u4eca\u56de\u306f\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306e\u4ed5\u7d44\u307f\u3001\u6295\u8cc7\u4fe1\u8a17\u3084\u4e0d\u52d5\u7523\u6295\u8cc7\u3068\u306e\u9055\u3044\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306e\u30e1\u30ea\u30c3\u30c8\u30fb\u30c7\u30e1\u30ea\u30c3\u30c8\u3001\u4f53\u9a13\u8ac7\u306a\u3069\u3092\u304a\u4f1d\u3048\u3057\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\uff08REIT\uff09\u3068\u306f\uff1f\u307e\u305a\u306f\u4ed5\u7d44\u307f\u3092\u7406\u89e3\u3057\u3066\u304a\u3053\u3046<\/h2>\n\n\n\n<p>REIT\u3068\u306f\u300cReal Estate Investment Trust\u300d\u306e\u7565\u3067\u3001\u65e5\u672c\u8a9e\u3067\u306f<strong>\u300c\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u300d<\/strong>\u3068\u3044\u3046\u610f\u5473\u3067\u3059\u3002\u4e00\u822c\u7684\u306b\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306e\u7dcf\u79f0\u3092<strong><span class=\"swl-marker mark_yellow\">REIT<\/span><\/strong>\u3068\u547c\u3073\u3001\u65e5\u672c\u306e\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u3092<strong>J-REIT<\/strong>\u3068\u547c\u3073\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u6295\u8cc7\u4fe1\u8a17\u306f<strong><span class=\"swl-inline-color has-swl-deep-02-color\">\u6295\u8cc7\u5bb6\u304b\u3089\u96c6\u3081\u305f\u304a\u91d1\u3092\u3001\u30d7\u30ed\u304c\u682a\u5f0f\u30fb\u50b5\u5238\u306a\u3069\u306b\u6295\u8cc7\u3092\u3059\u308b\u91d1\u878d\u5546\u54c1<\/span><\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f\u6295\u8cc7\u4fe1\u8a17\u306e\u4e00\u7a2e\u3067\u3001\u4e0d\u52d5\u7523\uff08\u30db\u30c6\u30eb\u30fb\u30aa\u30d5\u30a3\u30b9\u30d3\u30eb\u30fb\u30de\u30f3\u30b7\u30e7\u30f3\u306a\u3069\uff09\u306b\u6295\u8cc7\u3057\u53ce\u76ca\u3092\u6295\u8cc7\u5bb6\u306b\u5206\u914d\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"wp-block-group u-mb-ctrl u-mb-0\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"has-text-align-center\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/juDV6TUYrCxHJ3Q4259J_SFzusKwRQAf-8Xxf7S7nhfk8RDno08_7wSneWrLIy68XRiEhKCXHy-nfIn9v8WOvNd6-xugU-ovFZ2y5-92XOcOo3vrFScEwgt5Kf9Z7TwurTI25GmKTMczNBB27XUEtQ\" width=\"567\" height=\"202\"><\/p>\n<\/div><\/div>\n\n\n\n<p class=\"has-text-align-center\"><span class=\"swl-fz u-fz-xs\">\u51fa\u5178\uff1a\u91d1\u878d\u5e81\u300c<a href=\"https:\/\/www.fsa.go.jp\/news\/r3\/sonota\/20220317\/package.pdf\" target=\"_blank\" rel=\"noopener\" title=\"\">\u9ad8\u6821\u751f\u306e\u305f\u3081\u306e\u91d1\u878d\u30ea\u30c6\u30e9\u30b7\u30fc\u8b1b\u5ea7<\/a>\u300d<\/span><\/p>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f\u3001\u6295\u8cc7\u5bb6\u304b\u3089\u96c6\u3081\u305f\u8cc7\u91d1\u306a\u3069\u3067\u4e0d\u52d5\u7523\u6295\u8cc7\u6cd5\u4eba\u304c\u4e0d\u52d5\u7523\u6295\u8cc7\u3092\u884c\u3044\u3001\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u304c\u8cc7\u7523\u904b\u7528\u30fb\u7ba1\u7406\u3092\u62c5\u3044\u53ce\u76ca\u304b\u3089\u7d4c\u8cbb\u306a\u3069\u3092\u5dee\u3057\u5f15\u304d\u3001\u6295\u8cc7\u5bb6\u306b\u5229\u76ca\u3092\u5206\u914d\u3059\u308b\u4ed5\u7d44\u307f\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u6cd5\u5f8b\u306b\u57fa\u3065\u304d<strong><span class=\"swl-marker mark_yellow\">\u300c\u4e0d\u52d5\u7523\u6295\u8cc7\u6cd5\u4eba\u300d<\/span><\/strong>\u3068\u3044\u3046\u4f1a\u793e\u306e\u3088\u3046\u306a\u5f62\u614b\u3067\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u3092\u884c\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"has-text-align-center u-mb-ctrl u-mb-0\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/K4mZeajsGp8RHmUpHA3AF0VV4F5Le1UtSfKesLQiH8_iZQpVJ0LtARwEGgieiDKLGeIhj84ZM9-tk_fAUQDH1cufoMS0UTbFz1EP-0nQ_-YyVc-hKTp5uq5cll-7PtuG5MKe4x51W4UniF3gtJcAYQ\" width=\"567\" height=\"399\"><\/p>\n\n\n\n<p class=\"has-text-align-center\"><span class=\"swl-fz u-fz-xs\">\u51fa\u5178\uff1a\u56fd\u571f\u4ea4\u901a\u7701\u300c<a href=\"https:\/\/www.mlit.go.jp\/common\/001204998.pdf\" target=\"_blank\" rel=\"noopener\" title=\"\">\u4e0d\u52d5\u7523\u306e\u8a3c\u5238\u5316\u306b\u95a2\u3059\u308b\u57fa\u790e\u77e5\u8b58<\/a>\u300d<\/span><\/p>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u6cd5\u4eba\u306f<strong><span class=\"swl-marker mark_yellow\">\u300c\u6295\u8cc7\u8a3c\u5238\u300d<\/span><\/strong>\u3092\u767a\u884c\u3057\u3001\u6295\u8cc7\u5bb6\u306f\u8a3c\u5238\u4f1a\u793e\u3067\u6295\u8cc7\u8a3c\u5238\u3092\u8cb7\u3044\u4ed8\u3051\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u8a3c\u5238\u3092\u901a\u3058\u3066\u6295\u8cc7\u5bb6\u304b\u3089\u9810\u304b\u3063\u305f\u304a\u91d1\u30fb\u91d1\u878d\u6a5f\u95a2\u304b\u3089\u306e\u878d\u8cc7\u3067\u4e0d\u52d5\u7523\u6295\u8cc7\u6cd5\u4eba\u306f\u30aa\u30d5\u30a3\u30b9\u30d3\u30eb\u30fb\u30db\u30c6\u30eb\u306a\u3069\u4e0d\u52d5\u7523\u3092\u8cfc\u5165\u3057\u3001\u30c6\u30ca\u30f3\u30c8\u306a\u3069\u306b\u8cb8\u3057\u51fa\u3059\u306e\u3067\u3059\u3002\u4e3b\u306b\u4e0d\u52d5\u7523\u306e\u8cc3\u8cb8\u7d4c\u55b6\u3067\u5f97\u3089\u308c\u305f\u8cc3\u6599\u304b\u3089\u624b\u6570\u6599\u306a\u3069\u3092\u5dee\u3057\u5f15\u304d\u3001\u6295\u8cc7\u5bb6\u306b\u5229\u76ca\u3092\u5206\u914d\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u6cd5\u4eba\u306f<strong><span class=\"swl-inline-color has-swl-deep-01-color\">\u6cd5\u5f8b\u3067\u8cc7\u7523\u904b\u7528\u3092\u3059\u308b\u3053\u3068\u304c\u7981\u6b62\u3055\u308c\u3066\u3044\u308b<\/span><\/strong>\u305f\u3081\u3001\u6295\u8cc7\u4fe1\u8a17\u4f1a\u793e\u306a\u3069\u306e\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\uff08\u8cc7\u7523\u904b\u7528\u8005\uff09\u306b\u8cc7\u7523\u904b\u7528\u30fb\u7ba1\u7406\u306a\u3069\u3092\u59d4\u8a17\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u3068\u6295\u8cc7\u4fe1\u8a17\u30fb\u4e0d\u52d5\u7523\u6295\u8cc7\u3068\u306e\u9055\u3044<\/h2>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u3068\u682a\u5f0f\u3084\u50b5\u5238\u3092\u904b\u7528\u3059\u308b\u6295\u8cc7\u4fe1\u8a17\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u3068\u306e\u9055\u3044\u3092\u898b\u3066\u3044\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u3068\u901a\u5e38\u306e\u6295\u8cc7\u4fe1\u8a17\u306e\u9055\u3044<\/h3>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f\u6295\u8cc7\u5bfe\u8c61\u304c\u4e0d\u52d5\u7523\u3067\u3059\u304c\u3001\u901a\u5e38\u306e\u6295\u8cc7\u4fe1\u8a17\u306f<strong>\u682a\u5f0f\u30fb\u50b5\u5238\u30fb\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306a\u3069<\/strong>\u3092\u904b\u7528\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p><strong><span class=\"swl-inline-color has-swl-deep-02-color\">\u300c\u6295\u8cc7\u306e\u5bfe\u8c61\u304c\u4e0d\u52d5\u7523\u304b\u3001\u305d\u308c\u4ee5\u5916\uff08\u682a\u5f0f\u30fb\u50b5\u5238\u306a\u3069\uff09\u3067\u3042\u308b\u304b\u300d<\/span><\/strong>\u3068\u3044\u3046\u9055\u3044\u3092\u304a\u3055\u3048\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u3068\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u9055\u3044<\/h3>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f\u6295\u8cc7\u8a3c\u5238\u3092\u6295\u8cc7\u5bb6\u304c\u8cfc\u5165\u3057\u3001\u4e0d\u52d5\u7523\u6cd5\u4eba\u304c\u4e0d\u52d5\u7523\u6295\u8cc7\u3092\u884c\u3044\u307e\u3059\u3002<strong><span class=\"swl-inline-color has-swl-deep-02-color\">\u9593\u63a5\u7684\u306a\u4e0d\u52d5\u7523\u6295\u8cc7<\/span><\/strong>\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u306f<strong><span class=\"swl-inline-color has-swl-deep-02-color\">\u6295\u8cc7\u5bb6\u304c\u76f4\u63a5\u4e0d\u52d5\u7523\u3092\u8cfc\u5165\u3057\u3001\u904b\u7528\u30fb\u7ba1\u7406<\/span><\/strong>\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u306b\u306f\u707d\u5bb3\u30ea\u30b9\u30af\u30fb\u7a7a\u5ba4\u30ea\u30b9\u30af\u30fb\u91d1\u5229\u4e0a\u6607\u30ea\u30b9\u30af\u306a\u3069\u304c\u3042\u308a\u307e\u3059\u304c\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306b\u306f\u305d\u306e\u3088\u3046\u306a\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p>\u305f\u3060\u3057\u300c\u25cb\u25cb\u30ea\u30b9\u30af\u304c\u306a\u3044\u304b\u3089\u4e0d\u52d5\u7523\u6295\u8cc7\u3088\u308a\u5b89\u5fc3\u300d\u3068\u3044\u3046\u308f\u3051\u3067\u306f\u306a\u304f\u3001<strong><span class=\"swl-inline-color has-swl-deep-01-color\">\u7a7a\u5ba4\u3084\u707d\u5bb3\u306b\u3088\u308a\u6295\u8cc7\u4fe1\u8a17\u306e\u5206\u914d\u91d1\u304c\u6e1b\u308b\u3001\u4fa1\u984d\u3084\u4e0b\u843d\u3057\u3066\u3057\u307e\u3046\u30ea\u30b9\u30af<\/span><\/strong>\u304c\u3042\u308b\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u306b\u306f\u73fe\u7269\u306e\u8cc7\u7523\u3092\u6301\u3066\u308b\u3068\u3044\u3046\u30e1\u30ea\u30c3\u30c8\u3082\u3042\u308a\u307e\u3059\u306e\u3067\u3001\u4e00\u6982\u306b\u300c\u3069\u3061\u3089\u304c\u826f\u3044\u300d\u3068\u3044\u3046\u8a33\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306e\u30e1\u30ea\u30c3\u30c8\u30fb\u30c7\u30e1\u30ea\u30c3\u30c8&nbsp;<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306e\u30e1\u30ea\u30c3\u30c8<\/h3>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306e\u30e1\u30ea\u30c3\u30c8\u306f\u4ee5\u4e0b\u306e3\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\"><div class=\"cap_box_ttl\"><span><strong>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306e3\u3064\u306e\u30e1\u30ea\u30c3\u30c8<\/strong><\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"is-style-check_list wp-block-list\">\n<li><strong>\u4e0d\u52d5\u7523\u3092\u6240\u6709\u3057\u306a\u304f\u3066\u3082\u3001\u9593\u63a5\u7684\u306b\u4e0d\u52d5\u7523\u6295\u8cc7\u304c\u3067\u304d\u308b<\/strong><\/li>\n\n\n\n<li><strong>\u5206\u6563\u30fb\u5c0f\u53e3\u6295\u8cc7\u304c\u3067\u304d\u308b<\/strong><\/li>\n\n\n\n<li><strong>\u6bd4\u8f03\u7684\u30ea\u30b9\u30af\u304c\u9ad8\u3044\u304c\u30ea\u30bf\u30fc\u30f3\u3082\u9ad8\u3044<\/strong><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">\u4e0d\u52d5\u7523\u3092\u6240\u6709\u3057\u306a\u304f\u3066\u3082\u3001\u9593\u63a5\u7684\u306b\u4e0d\u52d5\u7523\u6295\u8cc7\u304c\u3067\u304d\u308b<\/h3>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f<strong>\u300c\u4e0d\u52d5\u7523\u6295\u8cc7\u3092\u3057\u305f\u3044\u3051\u3069\u30ed\u30fc\u30f3\u304c\u7d44\u3081\u306a\u3044\u300d\u300c\u4e0d\u52d5\u7523\u6295\u8cc7\u3092\u3059\u308b\u52c7\u6c17\u304c\u7121\u3044\u300d<\/strong>\u3068\u3044\u3046\u65b9\u3067\u3082\u3001\u9593\u63a5\u7684\u306a\u4e0d\u52d5\u7523\u6295\u8cc7\u304c\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5206\u6563\u30fb\u5c0f\u53e3\u6295\u8cc7\u304c\u3067\u304d\u308b<\/h3>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u3088\u3046\u306b1\u5ba4\u30fb1\u68df\u3092\u8cfc\u5165\u3059\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u305f\u3081\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f\u91d1\u984d\u30fb\u6570\u91cf\u3092\u5c11\u306a\u304f\u3057\u305f\u5c0f\u53e3\u6295\u8cc7\u3082\u53ef\u80fd\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u8cc7\u7523\u904b\u7528\u3067\u306f\u3001\u682a\u30fb\u50b5\u5238\u30fb\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306a\u3069\u3055\u307e\u3056\u307e\u306a\u91d1\u878d\u5546\u54c1\u306b\u5206\u6563\u3059\u308b\u3053\u3068\u3067<strong><span class=\"swl-inline-color has-swl-deep-02-color\">\u30ea\u30b9\u30af\u306e\u8efd\u6e1b<\/span><\/strong>\u304c\u671f\u5f85\u3067\u304d\u307e\u3059\u3002\u30ea\u30b9\u30af\u306f\u300c\u640d\u5931\u300d\u300c\u5371\u967a\u5ea6\u300d\u3068\u6349\u3048\u308b\u65b9\u3082\u3044\u307e\u3059\u304c\u3001\u6295\u8cc7\u306e\u4e16\u754c\u3067\u306f<strong><span class=\"swl-marker mark_yellow\">\u300c\u30ea\u30bf\u30fc\u30f3\u306e\u632f\u308c\u5e45\u300d\u300c\u4e0d\u78ba\u5b9f\u6027\u300d<\/span><\/strong>\u3092\u610f\u5473\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u4f8b\u3048\u3070\u4e00\u822c\u7684\u306b\u50b5\u5238\u3068\u682a\u306f\u9006\u306e\u52d5\u304d\u3092\u3059\u308b\u3068\u3044\u308f\u308c\u3066\u304a\u308a\u3001\u682a\u3068\u50b5\u5238\u3092\u5206\u6563\u3057\u3066\u4fdd\u6709\u3059\u308b\u3068\u50b5\u5238\u306e\u4fa1\u984d\u304c\u4e0b\u304c\u3063\u3066\u3082\u682a\u4fa1\u304c\u4e0a\u304c\u308b\u3053\u3068\u3067\u30c8\u30fc\u30bf\u30eb\u306e\u8cc7\u7523\u304c\u5927\u5e45\u306b\u6e1b\u5c11\u3059\u308b\u3053\u3068\u306f\u56de\u907f\u304c\u53ef\u80fd\u3067\u3059\u3002<\/p>\n\n\n\n<p><strong><span class=\"swl-inline-color has-swl-deep-02-color\">\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u3082\u4ed6\u306e\u8cc7\u7523\u3068\u7d44\u307f\u5408\u308f\u305b\u3066\u4fdd\u6709\u3059\u308b\u3053\u3068<\/span><\/strong>\u3067\u3001\u7dcf\u8cc7\u7523\u306e\u4fa1\u984d\u6e1b\u5c11\u30ea\u30b9\u30af\u3092\u8efd\u6e1b\u3067\u304d\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"has-text-align-center u-mb-ctrl u-mb-0\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/hdwZqBdntSvy0ckdC_N_YKL0ZEioPAgaVFl-57j00vF-qgdbEanMIVJZ17ew0jI9yYqlqCVlSNfQl2D1xJMwv8QQTFHa55e8JNlu7Lx6omyOFefrrb3wr8DEwPrH6m3df8VQnthRJwNnxz0bn5ZUzQ\" width=\"567\" height=\"345\"><\/p>\n\n\n\n<p class=\"has-text-align-center\"><span class=\"swl-fz u-fz-xs\">\u51fa\u5178\uff1a\u91d1\u878d\u5e81\u300c<a href=\"https:\/\/www.fsa.go.jp\/policy\/nisa2\/about\/tsumitate\/guide\/index.html\" target=\"_blank\" rel=\"noopener\" title=\"\">\u3064\u307f\u305f\u3066NISA\u65e9\u308f\u304b\u308a\u30ac\u30a4\u30c9\u30d6\u30c3\u30af<\/a>\u300d<\/span><\/p>\n\n\n\n<p>\u7d9a\u3044\u3066\u30012008\u301c2017\u5e74\u306e\u8cc7\u7523\u5225\u306e\u9a30\u843d\u7387\uff08\u5186\u63db\u7b97\uff09\u3092\u898b\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p class=\"has-text-align-center u-mb-ctrl u-mb-0\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/DNVXt0lsrRQb2GjeI9ufdXyNMvM2WzCgP8AMgovlB0iSgLPu24V9x1gVY7m7h3xDLNX6bAswp_a8DSm_E_NSdOPdujzUGzgwWY_2RnMQof5FNYEFKP8YER2j4p1M5p6Gkh7yKpkgscQ75VG7vrVDsg\" width=\"597\" height=\"282\"><\/p>\n\n\n\n<p class=\"has-text-align-center\"><span class=\"swl-fz u-fz-xs\">\u51fa\u5178\uff1a\u91d1\u878d\u5e81\u300c<a href=\"https:\/\/www.fsa.go.jp\/policy\/nisa2\/attention\/01\/01_08.html\" target=\"_blank\" rel=\"noopener\" title=\"\">NISA\u7279\u8a2d\u30a6\u30a7\u30d6\u30b5\u30a4\u30c8\u3000\u6559\u3048\u3066\u866b\u3068\u308a\u5148\u751f<\/a>\u300d<\/span><\/p>\n\n\n\n<p>2008\u5e74\u306f\u30ea\u30fc\u30de\u30f3\u30fb\u30b7\u30e7\u30c3\u30af\u306e\u5f71\u97ff\u3067\u56fd\u5185REIT\u306e\u9a30\u843d\u7387\u306f<strong><span class=\"swl-marker mark_yellow\">-51.8\uff05<\/span><\/strong>\u3001\u56fd\u5185\u50b5\u5238\u304c<strong><span class=\"swl-marker mark_yellow\">+ 2.1\uff05<\/span><\/strong>\u3067\u3059\u304c\u30012010\u5e74\u306b\u306f\u56fd\u5185REIT\u306e\u9a30\u843d\u7387\u304c<strong><span class=\"swl-marker mark_yellow\">+26.6\uff05<\/span><\/strong>\u3068\u4e3b\u8981\u8cc7\u7523\u306e\u4e2d\u3067\u30c8\u30c3\u30d7\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u6bce\u5e74\u9806\u4f4d\u304c\u5165\u308c\u66ff\u308f\u308b\u4e2d\u3067\u3001\u682a\u30fb\u50b5\u5238\u30fbREIT\u306a\u3069\u3055\u307e\u3056\u307e\u306a\u8cc7\u7523\u306b\u5206\u6563\u3057\u3066\u6295\u8cc7\u3059\u308b\u3053\u3068\u3067\u30ea\u30b9\u30af\u306e\u8efd\u6e1b\u306b\u3064\u306a\u304c\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u6bd4\u8f03\u7684\u30ea\u30b9\u30af\u304c\u9ad8\u3044\u304c\u30ea\u30bf\u30fc\u30f3\u3082\u9ad8\u3044<\/h4>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f\u30df\u30c9\u30eb\u30ea\u30b9\u30af\u30fb\u30df\u30c9\u30eb\u30ea\u30bf\u30fc\u30f3\u3068\u3044\u308f\u308c\u3066\u3044\u307e\u3059\u304c\u3001\u4e00\u822c\u793e\u56e3\u6cd5\u4eba\u4e0d\u52d5\u7523\u8a3c\u5238\u5316\u5354\u4f1a\u306e\u5b9f\u8a3c\u5206\u6790\u3067\u306fJ-REIT\u306e\u30ea\u30b9\u30af\u30fb\u30ea\u30bf\u30fc\u30f3\u306f<strong><span class=\"swl-inline-color has-swl-deep-02-color\">\u56fd\u5185\u682a\u5f0f\u3068\u540c\u6c34\u6e96<\/span><\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"has-text-align-center\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/aUjekxguJWkAxVRjjQN4KaIaa5m-kbJ_KU7KDlK8kcz-MEJBYW84yaMm2IflRyKcvQQAda6Sl4KqQskyAnXmL6EDtMLRFifMHAfUtYdQ-t0bB6cAuVNncJXP6uFQynNSxvIBOI3xwzzanRmDtVoFkA\" width=\"567\" height=\"227\"><\/p>\n\n\n\n<p class=\"has-text-align-center\"><span class=\"swl-fz u-fz-xs\">\u51fa\u5178\uff1a\u4e00\u822c\u793e\u56e3\u6cd5\u4eba\u4e0d\u52d5\u7523\u8a3c\u5238\u5316\u5354\u4f1a\u300c<a href=\"https:\/\/www.ares.or.jp\/download\/info\/674.pdf?open=1\" target=\"_blank\" rel=\"noopener\" title=\"\">\u30cb\u30e5\u30fc\u30b9\u30ea\u30ea\u30fc\u30b9 J\u30ea\u30fc\u30c8\u306e\u5206\u6563\u6295\u8cc7\u52b9\u679c\u306e\u5b9f\u8a3c\u5206\u6790\u306b\u3064\u3044\u3066<\/a>\u300d<\/span><\/p>\n\n\n\n<p>\u91d1\u878d\u5546\u54c1\u306e\u7a2e\u985e\u5225\u3067\u306f\u3001\u6700\u3082\u4f4e\u30ea\u30b9\u30af\u30fb\u4f4e\u30ea\u30bf\u30fc\u30f3\u306a\u306e\u306f\u9810\u8caf\u91d1\u3001\u6b21\u3044\u3067\u50b5\u5238\u30fb\u682a\u5f0f\u3068\u3044\u308f\u308c\u3066\u3044\u307e\u3059\u3002\u52a0\u3048\u3066\u3001\u4e00\u822c\u7684\u306b\u306f\u56fd\u5185\u306e\u91d1\u878d\u5546\u54c1\u306f\u6d77\u5916\u3088\u308a\u4f4e\u30ea\u30b9\u30af\u30fb\u4f4e\u30ea\u30bf\u30fc\u30f3\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u4e0a\u8a18\u306e\u5206\u6790\u7d50\u679c\u3092\u898b\u308b\u3068\u3001\u56fd\u5185\u306e\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f<strong><span class=\"swl-inline-color has-swl-deep-02-color\">\u682a\u5f0f\u3068\u540c\u6c34\u6e96\u306e\u9ad8\u30ea\u30bf\u30fc\u30f3\u306e\u5546\u54c1\u3068\u8a00\u3048\u308b<\/span><\/strong>\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p>\u305f\u3060\u3057\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306b\u304b\u304b\u308f\u3089\u305a\u3001<strong><span class=\"swl-inline-color has-swl-deep-01-color\">\u30ea\u30bf\u30fc\u30f3\u304c\u9ad8\u3044\u91d1\u878d\u5546\u54c1\u306f\u30ea\u30b9\u30af\u3082\u9ad8\u3044<\/span><\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306e\u30c7\u30e1\u30ea\u30c3\u30c8<\/h3>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\"><div class=\"cap_box_ttl\"><span><strong>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306e3\u3064\u306e\u30c7\u30ea\u30c3\u30c8<\/strong><\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"is-style-bad_list wp-block-list\">\n<li><strong>\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff08\u4fa1\u683c\u5909\u52d5\uff09\u304c\u5927\u304d\u3044<\/strong><\/li>\n\n\n\n<li><strong>\u30ea\u30b9\u30af\u304c\u6bd4\u8f03\u7684\u9ad8\u3044<\/strong><\/li>\n\n\n\n<li><strong>\u5b9f\u7269\u8cc7\u7523\u3092\u4fdd\u6709\u3067\u304d\u306a\u3044<\/strong><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h4 class=\"wp-block-heading\">\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff08\u4fa1\u683c\u5909\u52d5\uff09\u304c\u5927\u304d\u3044<\/h4>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f\u3001<strong><span class=\"swl-inline-color has-swl-deep-01-color\">\u6bd4\u8f03\u7684\u4fa1\u683c\u306e\u5909\u52d5\u5e45\u304c\u5927\u304d\u3044\u91d1\u878d\u5546\u54c1<\/span><\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u3088\u3063\u3066\u300c\u4fa1\u984d\u3092\u30c1\u30a7\u30c3\u30af\u3057\u3066\u3044\u308b\u3051\u3069\u5024\u52d5\u304d\u304c\u5927\u304d\u304f\u3066\u8010\u3048\u3089\u308c\u306a\u3044\u300d\u3068\u624b\u653e\u3057\u3066\u3057\u307e\u3046\u65b9\u3082\u5b58\u5728\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u30ea\u30b9\u30af\u304c\u6bd4\u8f03\u7684\u9ad8\u3044<\/h4>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f\u3001\u6295\u8cc7\u4fe1\u8a17\u306e\u4e2d\u3067\u306f<strong><span class=\"swl-inline-color has-swl-deep-01-color\">\u9ad8\u30ea\u30b9\u30af\u30fb\u9ad8\u30ea\u30bf\u30fc\u30f3\u306b\u5206\u985e<\/span><\/strong>\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u30ea\u30bf\u30fc\u30f3\u304c\u9ad8\u3044\u5546\u54c1\u306f\u30ea\u30b9\u30af\u3082\u9ad8\u304f\u3001\u30ea\u30b9\u30af\u306e\u8a31\u5bb9\u5ea6\u304c\u4f4e\u3044\u65b9\u306b\u306f\u53d7\u3051\u5165\u308c\u3089\u308c\u306a\u3044\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u306f\u500b\u4eba\u306b\u3088\u3063\u3066\u7570\u306a\u308a\u307e\u3059\u304c\u3001\u6295\u8cc7\u521d\u5fc3\u8005\u306f\u307e\u305a<strong><span class=\"swl-inline-color has-swl-deep-02-color\">\u4f4e\u30ea\u30b9\u30af\u30fb\u4f4e\u30ea\u30bf\u30fc\u30f3\u306e\u5546\u54c1\u306e\u904b\u7528\u304c\u671b\u307e\u3057\u3044<\/span><\/strong>\u3067\u3059\u3002\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306e\u904b\u7528\u306f<strong>\u300c\u6295\u8cc7\u306b\u6163\u308c\u3066\u304b\u3089\u300d<\/strong>\u3092\u304a\u3059\u3059\u3081\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u5b9f\u7269\u8cc7\u7523\u3092\u4fdd\u6709\u3067\u304d\u306a\u3044<\/h4>\n\n\n\n<p>\u4e0d\u52d5\u7523\u3084\u91d1\u306e\u3088\u3046\u306a\u5f62\u306e\u3042\u308b\u8cc7\u7523\u3092\u5b9f\u7269\u8cc7\u7523\u3068\u547c\u3073\u3001\u5b9f\u7269\u8cc7\u7523\u306f<strong><span class=\"swl-inline-color has-swl-deep-02-color\">\u30a4\u30f3\u30d5\u30ec\u306b\u5f37\u3044<\/span><\/strong>\u3068\u3044\u308f\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u3068\u306f\u8ca8\u5e63\u4fa1\u5024\u304c\u4e0b\u304c\u308a\u30e2\u30ce\u306e\u5024\u6bb5\u304c\u4e0a\u304c\u308b\u3053\u3068\u3067\u3001\u300c\u5b9f\u7269\u300d\u306e\u4e0d\u52d5\u7523\u306f\u30a4\u30f3\u30d5\u30ec\u306b\u5f37\u3044\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u3092\u8a3c\u5238\u5316\u3057\u305f\u6295\u8cc7\u3067\u3059\u306e\u3067<strong><span class=\"swl-inline-color has-swl-deep-01-color\">\u5b9f\u7269\u8cc7\u7523\u3092\u4fdd\u6709\u3067\u304d\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/span><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\uff08REIT\uff09\u306e\u7a2e\u985e<\/h2>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u6cd5\u4eba\u304c\u4fdd\u6709\u3059\u308b\u4e0d\u52d5\u7523\u306b\u306f\u3001\u4e3b\u306b\u4ee5\u4e0b\u306e6\u3064\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\" data-has-cell-bg=\"1\" data-text-color=\"white\"><strong><span data-icon-size=\"l\" data-icon-type=\"bg\" class=\"swl-cell-bg has-swl-main-background-color\" data-text-color=\"white\" aria-hidden=\"true\">&nbsp;<\/span>\u7a2e\u985e<\/strong><\/td><td data-has-cell-bg=\"1\" data-text-color=\"white\"><strong><span class=\"swl-cell-bg has-swl-deep-04-background-color\" data-text-color=\"white\" aria-hidden=\"true\">&nbsp;<\/span>\u6982\u8981\u3068\u7279\u5fb4<\/strong><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\" data-has-cell-bg=\"1\" data-text-color=\"black\"><span class=\"swl-cell-bg has-swl-gray-background-color\" data-text-color=\"black\" aria-hidden=\"true\">&nbsp;<\/span>\u4f4f\u5b85<\/td><td data-has-cell-bg=\"1\" data-text-color=\"black\"><span class=\"swl-cell-bg has-swl-gray-background-color\" data-text-color=\"black\" aria-hidden=\"true\">&nbsp;<\/span>\u30de\u30f3\u30b7\u30e7\u30f3\u30fb\u30a2\u30d1\u30fc\u30c8\u306a\u3069\u306e\u5c45\u4f4f\u7528\u4e0d\u52d5\u7523\u3067\u3059\u3002\u751f\u6d3b\u3059\u308b\u4e0a\u3067\u5fc5\u8981\u4e0d\u53ef\u6b20\u306a\u3082\u306e\u3067\u3059\u306e\u3067\u3001\u666f\u6c17\u306e\u5f71\u97ff\u3092\u53d7\u3051\u306b\u304f\u3044\u3067\u3059\u3002\u7269\u6d41\u65bd\u8a2d\u306a\u3069\u306b\u6bd4\u3079\u30c6\u30ca\u30f3\u30c8\u304c\u5206\u6563\u3055\u308c\u3066\u304a\u308a\u3001\u7a7a\u5ba4\u304c\u51fa\u3066\u3082REIT\u3078\u306e\u5f71\u97ff\u306f\u5c0f\u3055\u3044\u3053\u3068\u304c\u7279\u5fb4\u3067\u3059\u3002<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\" data-has-cell-bg=\"1\" data-text-color=\"black\"><span class=\"swl-cell-bg has-swl-gray-background-color\" data-text-color=\"black\" aria-hidden=\"true\">&nbsp;<\/span>\u30aa\u30d5\u30a3\u30b9\u30d3\u30eb<\/td><td data-has-cell-bg=\"1\" data-text-color=\"black\"><span class=\"swl-cell-bg has-swl-gray-background-color\" data-text-color=\"black\" aria-hidden=\"true\">&nbsp;<\/span>\u30aa\u30d5\u30a3\u30b9\u30d3\u30eb\u306f\u5e02\u5834\u898f\u6a21\u304c\u5927\u304d\u304f\u3001\u7acb\u5730\u306b\u3088\u3063\u3066\u306f\u5b89\u5b9a\u3057\u305f\u8cc3\u6599\u53ce\u5165\u304c\u671f\u5f85\u3067\u304d\u308b\u305f\u3081REIT\u306e\u6295\u8cc7\u5148\u306b\u591a\u3044\u7269\u4ef6\u3067\u3059\u3002\u5c45\u4f4f\u7528\u4e0d\u52d5\u7523\u306b\u6bd4\u3079\u3001\u666f\u6c17\u306e\u52d5\u5411\u306b\u3088\u308b\u5909\u52d5\u304c\u5927\u304d\u3044\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\" data-has-cell-bg=\"1\" data-text-color=\"black\"><span class=\"swl-cell-bg has-swl-gray-background-color\" data-text-color=\"black\" aria-hidden=\"true\">&nbsp;<\/span>\u30db\u30c6\u30eb\u30fb\u65c5\u9928<\/td><td data-has-cell-bg=\"1\" data-text-color=\"black\"><span class=\"swl-cell-bg has-swl-gray-background-color\" data-text-color=\"black\" aria-hidden=\"true\">&nbsp;<\/span>\u30db\u30c6\u30eb\u3092\u904b\u55b6\u3059\u308b\u4f01\u696d\u306e\u696d\u7e3e\u3084\u3001\u30a4\u30f3\u30d0\u30a6\u30f3\u30c9\u30fb\u89b3\u5149\u306e\u9700\u8981\u306a\u3069\u306b\u3088\u3063\u3066\u5024\u52d5\u304d\u304c\u751f\u3058\u307e\u3059\u3002\u5468\u8fba\u306e\u540c\u696d\u4ed6\u793e\u306e\u52d5\u5411\u306b\u3082\u5de6\u53f3\u3055\u308c\u308b\u3067\u3057\u3087\u3046\u3002<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\" data-has-cell-bg=\"1\" data-text-color=\"black\"><span class=\"swl-cell-bg has-swl-gray-background-color\" data-text-color=\"black\" aria-hidden=\"true\">&nbsp;<\/span>\u5546\u696d\u65bd\u8a2d<\/td><td data-has-cell-bg=\"1\" data-text-color=\"black\"><span class=\"swl-cell-bg has-swl-gray-background-color\" data-text-color=\"black\" aria-hidden=\"true\">&nbsp;<\/span>\u90fd\u5e02\u90e8\u306e\u5546\u696d\u30d3\u30eb\u306f\u666f\u6c17\u306e\u5f71\u97ff\u3092\u53d7\u3051\u3084\u3059\u3044\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002\u4e00\u65b9\u3001\u90ca\u5916\u306e\u5927\u304d\u306a\u30b7\u30e7\u30c3\u30d4\u30f3\u30b0\u30e2\u30fc\u30eb\u306f1\u3064\u306e\u30c6\u30ca\u30f3\u30c8\u306b\u9577\u671f\u3067\u8cb8\u3059\u30b1\u30fc\u30b9\u304c\u6bd4\u8f03\u7684\u591a\u3044\u3067\u3059\u3002\u7acb\u5730\u304c\u826f\u304f\u4eba\u6c17\u306e\u3042\u308b\u30c6\u30ca\u30f3\u30c8\u304c\u591a\u3044\u3068\u3001\u5b89\u5b9a\u3057\u305f\u8cc3\u6599\u53ce\u5165\u304c\u671f\u5f85\u3067\u304d\u307e\u3059\u3002<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\" data-has-cell-bg=\"1\" data-text-color=\"black\"><span class=\"swl-cell-bg has-swl-gray-background-color\" data-text-color=\"black\" aria-hidden=\"true\">&nbsp;<\/span>\u7269\u6d41\u65bd\u8a2d<\/td><td data-has-cell-bg=\"1\" data-text-color=\"black\"><span class=\"swl-cell-bg has-swl-gray-background-color\" data-text-color=\"black\" aria-hidden=\"true\">&nbsp;<\/span>\u8fd1\u5e74\u30cd\u30c3\u30c8\u901a\u8ca9\u306e\u5229\u7528\u8005\u6570\u304c\u5897\u3048\u3001\u9700\u8981\u304c\u9ad8\u304f\u306a\u3063\u305f\u3053\u3068\u304b\u3089REIT\u306e\u9298\u67c4\u304c\u5897\u52a0\u3057\u3066\u3044\u307e\u3059\u3002\u8cc3\u6599\u3092\u9577\u671f\u56fa\u5b9a\u3067\u8a2d\u5b9a\u3059\u308b\u3053\u3068\u304c\u591a\u3044\u305f\u3081\u3001\u5b89\u5b9a\u3057\u305f\u8cc3\u6599\u53ce\u5165\u304c\u671f\u5f85\u3067\u304d\u307e\u3059\u304c1\u3064\u306e\u65bd\u8a2d\u306b\u5165\u308b\u30c6\u30ca\u30f3\u30c8\u6570\u304c\u5c11\u306a\u3044\u305f\u3081\u30c6\u30ca\u30f3\u30c8\u304c\u9000\u53bb\u3059\u308b\u3068REIT\u306b\u53ca\u307c\u3059\u5f71\u97ff\u304c\u5927\u304d\u3044\u3067\u3057\u3087\u3046\u3002<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\" data-has-cell-bg=\"1\" data-text-color=\"black\"><span class=\"swl-cell-bg has-swl-gray-background-color\" data-text-color=\"black\" aria-hidden=\"true\">&nbsp;<\/span>\u8907\u5408\u578b\u30fb\u7dcf\u5408\u578b<\/td><td data-has-cell-bg=\"1\" data-text-color=\"black\"><span class=\"swl-cell-bg has-swl-gray-background-color\" data-text-color=\"black\" aria-hidden=\"true\">&nbsp;<\/span>\u7528\u9014\u304c\u7570\u306a\u308b\u5efa\u7269\u3092\u4fdd\u6709\u3067\u304d\u308b\u305f\u3081\u3001\u30ea\u30b9\u30af\u306e\u5206\u6563\u304c\u53ef\u80fd\u3067\u3059\u3002<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u4ed6\u306b\u3082\u3001\u5de5\u5834\u3084\u30d8\u30eb\u30b9\u30b1\u30a2\u65bd\u8a2d\uff08\u75c5\u9662\u30fb\u85ac\u5c40\u30fb\u4ecb\u8b77\u65bd\u8a2d\u306a\u3069\uff09\u306b\u7279\u5316\u3057\u305fREIT\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306e\u4f53\u9a13\u8ac7<\/h2>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u3092\u904b\u7528\u3059\u308b\u3001\u7b46\u8005\u306e\u89aa\u621a\u306e\u4f53\u9a13\u8ac7\u3092\u7d39\u4ecb\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"is-style-sticky_box\"><strong>\u7b46\u8005\u306e\u89aa\u621a\u30fbA\u3055\u3093\u306f\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\uff08\u7dcf\u5408\u578b\uff09\u30922015\u5e74\u306b\u8cfc\u5165\u3057\u30012023\u5e7410\u6708\u73fe\u5728\u307e\u3067\u904b\u7528\u3057\u3066\u3044\u307e\u3059<\/strong><\/p>\n<\/div><\/div>\n\n\n\n<p>A\u3055\u3093\u306fREIT\u306e\u4ed6\u306b\u3082\u65e5\u672c\u682a\u3084\u56fd\u50b5\u30fb\u6295\u8cc7\u4fe1\u8a17\u306a\u3069\u3092\u904b\u7528\u3057\u3066\u304a\u308a\u3001\u5e74\u9593120\u4e07\u5186\u7a0b\u5ea6\u306e\u914d\u5f53\u91d1\u30fb\u5206\u914d\u91d1\u306b\u3088\u308b\u53ce\u5165\u3092\u5f97\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>REIT\u3092\u8cfc\u5165\u3057\u305f\u304d\u3063\u304b\u3051\u306f<strong>\u300c\u8a3c\u5238\u4f1a\u793e\u306e\u62c5\u5f53\u8005\u306b\u52e7\u3081\u3089\u308c\u305f\u304b\u3089\u300d<\/strong>\u3068\u306e\u3053\u3068\u3067\u3001\u5206\u914d\u91d1\u304c\u8cb4\u91cd\u306a\u53ce\u5165\u6e90\u3068\u306a\u3063\u3066\u304a\u308a<strong>\u300c\u5206\u914d\u91d1\u3092\u3082\u3089\u3046\u3068REIT\u3092\u6301\u3063\u3066\u3044\u3066\u826f\u304b\u3063\u305f\u3068\u601d\u3046\u300d<\/strong>\u305d\u3046\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u3001\u5024\u52d5\u304d\u304c\u5927\u304d\u3044\u305f\u3081<strong>\u300c\u30c1\u30e3\u30fc\u30c8\u306f\u983b\u7e41\u306b\u30c1\u30a7\u30c3\u30af\u3057\u306a\u3044\u3088\u3046\u306b\u3057\u3066\u3044\u308b\u300d<\/strong>\u305d\u3046\u3067<strong>\u300c\u5206\u914d\u91d1\u3084\u30ea\u30b9\u30af\u5206\u6563\u304c\u76ee\u7684\u3067\u3042\u308c\u3070\u3001REIT\u306f\u826f\u3044\u5546\u54c1\u3060\u3068\u601d\u3046\u300d<\/strong>\u3068\u8a9e\u3063\u3066\u3044\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f\u3069\u3053\u304b\u3089\u8cb7\u3046\u306e\u304c\u304a\u3059\u3059\u3081\uff1f<\/h2>\n\n\n\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\u306f\u3069\u3053\u3067\u3069\u306e\u3088\u3046\u306a\u5546\u54c1\u3092\u8cfc\u5165\u3059\u308b\u306e\u304c\u826f\u3044\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n\n\n\n<p>REIT\u306f<strong><span class=\"swl-marker mark_yellow\">\u9280\u884c\u3084\u8a3c\u5238\u4f1a\u793e<\/span><\/strong>\u3067\u8cfc\u5165\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u9280\u884c\u3084\u5e97\u8217\u578b\u8a3c\u5238\u4f1a\u793e\u306f\u624b\u6570\u6599\u304c\u9ad8\u3044\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u304c\u3001<span class=\"swl-inline-color 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