January 22, 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 Determination of Prices and Other Conditions with Regard to Issuance ofNew Investment Units and Secondary Offering of Investment UnitsStar Asia Investment Corporation (“SAR”) announces that at a meeting of the Board of Directors held today, SAR
determined the offer prices and other conditions concerning issuance of new investment units and secondaryoffering of investment units of SAR that were approved at the Board of Directors meeting held on January 12,
2018, as described below.
1．Issuance of new investment units through public offering (primary offering)
Paid-in amount (issue(1)
103,002 yen per unit
amount):Total paid-in amount (total(2)5,525,130,282 yen
issue amount):(3) Offer price:
106,724 yen per unit
(4) Total offer price:

5,724,782,084 yen(Note) The underwriters shall underwrite the investment units at the paid-in amount (issue amount) and publicly offer
the investment units at the offer price.

2．Secondary offering of investment units (over-allotment)
Total number of investment(1)2,683 units
units to be offered:(2) Offer price:
106,724 yen per unit
(3) Total offer price:Note:286,340,492 yenThis press release does not in any way constitute any part of an offering of securities for investment. Thispress release has been prepared for the purpose of announcing to the public certain matters relating to theissuance of new investment units and secondary offering of investment units, and not for the purpose ofsoliciting any investment, within or outside of Japan. Additionally, this press release is not an offer ofsecurities for sale in the United States. The securities referred to herein have not been, and will not beregistered under the United States Securities Act of 1933, as amended (the “Securities Act”) and may not beoffered or sold in the United States absent registration or an exemption from registration under theSecurities Act. No offering or sale of securities in the United States will be made in connection with theabove-mentioned transactions. This press release is not for publication, distribution or release, directly or
indirectly in or into the United States of America.

13．Issuance of new investment units through third-party allotment
Paid-in amount (issue(1)
103,002 yen per unit
amount):Total paid-in amount (total(2)276,354,366 yen
issue amount) (maximum):(Note) If all or a part of the investment units are not subscribed, the issuance of such unsubscribed investment
units shall be cancelled.

<Reference>
1. Calculation of offer prices(1)

Calculation date and price:(2)Discount rate:

January 22, 2018 (Monday)(Note)

113,500 yen

2.50%(Note) Discount rate is applied to the figure determined by the following formula: the closing price on thecalculation date as reported on the Tokyo Stock Exchange, Inc. minus the forecasted distributions per unitof 4,039 yen for the fiscal period ending January 31, 2018.

2. Total number of investment units to be offered in the primary offering
53,641 units
3. Use of the funds to be procured
Net proceeds from the primary offering will be appropriated to a portion of the acquisition ofproperties to be acquired as noted in “Notice Concerning Acquisition of Real Estate Beneficiary Interests inTrust and Lease Contract with New Tenants” released on January 12, 2018. Further, the net proceeds fromthe third-party allotment will be appropriated to a portion of the repayment of borrowings.

Note:This press release does not in any way constitute any part of an offering of securities for investment. Thispress release has been prepared for the purpose of announcing to the public certain matters relating to theissuance of new investment units and secondary offering of investment units, and not for the purpose ofsoliciting any investment, within or outside of Japan. Additionally, this press release is not an offer ofsecurities for sale in the United States. The securities referred to herein have not been, and will not beregistered under the United States Securities Act of 1933, as amended (the “Securities Act”) and may not be
offered or sold in the United States absent registration or an exemption from registration under theSecurities Act. No offering or sale of securities in the United States will be made in connection with theabove-mentioned transactions. This press release is not for publication, distribution or release, directly or
indirectly in or into the United States of America.

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