October 4, 2018
For Immediate Release
Real Estate Investment Trust Securities Issuer
Star Asia Investment Corporation
Representative: Atsushi Kato, Executive Director(Code: 3468)
Asset Management Company
Star Asia Investment Management Co., Ltd.
Representative: Atsushi Kato
President and CEO
Contact: Toru Sugihara
Director and CFO
TEL: +81-3-5425-1340

Notice Concerning Partial Early Repayment of Borrowings
Star Asia Investment Corporation (SAR) announces today that it has decided on early repayment of borrowings(the “Early Repayment”), as described below.

1. Details of Early Repayment(1) Repayment date: October 22, 2018
(2) Repayment amount: Total 2,930 million yen(3) Source for repayment : The proceeds from the issuance of new investment units by way of the thirdparty allotment with October 2, 2018 as the payment deadline and from the transfer of the beneficiaryinterest in Urban Park Shin-Yokohama which is scheduled to be paid on October 11, 2018 will be used for
the Early Repayment.
For details, please refer to the“Notice Concerning Issuance of New Investment Units and Secondary
Offering of Investment Units” dated August 21, 2018 and “Notice Concerning Determination of theNumber of New Investment Units to be Issued through Third-Party Allotment” dated September 28, 2018and ”Notice Concerning Acquisition and Lease Contract with New Tenants, and Transfer of Real
Estate Beneficiary Interests in Trust ” dated August 21, 2018.

12. Summary of Borrowings of which Early Repayment will be Executed
Short-term Borrowings (Note 1) (Announced in the “Notice Concerning Debt Financing” dated August 21, 2018)

TermLender

Sumitomo
Mitsui
Short- Banking
term Corporationand Mizuho
Bank, Ltd.

BorrowingamountRepayment
before theInterestamount
Earlyrate(million yen)Repayment(million yen)

3,500
(Note2)2,600790(Note3)

330

Date ofborrowing

Borrowing
methodMaturity
date

Repayment
methodSecurity

Borrowing basedon individual
term loan
DecemberBaseagreement dated 20, 2018
interest
September 4,
rate
Lump sum
2018 based on
Unsecured(JBA 1 September
repayment
basic agreement
andmonth6, 2018
on maturity
dated April 15,
unguaranteedyendate2016 assuming
TIBOR)
August20,
Sumitomo Mitsui+0.20%
2019
Banking
Corporation as anagent(Note 1) Short-term refers to borrowings due within one year. The same applies hereinafter.
(Note 2) Balance after executing the Early Repayment will be 900 million yen.
(Note 3) Balance after executing the Early Repayment will be 460 million yen.

3. Status of Loans, etc. after Early Repayment(Unit: million yen)
Before the Early
Repayment
4,290
52,07056,36056,36056,360

Short-term borrowings
Long-term borrowings
Total borrowings
Investment corporation bonds
Total borrowings and Investment corporation bonds
Other interest-bearing liabilities
Total interest-bearing liabilities

After the EarlyRepayment
1.360
52,07053,43053,43053,430Change-2,930-2,930-2,930-2,930

4. Future Outlook
The Early Repayment is included in the assumptions underlying management status forecast announced in“Financial Report for Fiscal Period Ended July 31, 2018” dated September 13, 2018, and thus there are norevisions to the management status forecasts for the fiscal period ending January 2019 (August 1, 2018 toJanuary 31, 2019) and for the fiscal period ending July 2019 (February 1, 2019 to July 31, 2019).
5. Other Matters Required for Investors to Appropriately Understand and Evaluate the above Information
In conjunction with the risks pertaining to the Early Repayment, etc. there are no changes to “Part II. Reference
Information /II. Information Supplementary to Reference Documents/3. Investment Risks, 3. Investment Risks”
stated in the Securities Registration Statement submitted on August 21, 2018.

* Star Asia Investment Corporation website address: http://starasia-reit.com/en/2