August 21, 2017
For Immediate Release
Real Estate Investment Trust Securities Issuer
Star Asia Investment Corporation
Representative: Atsushi Kato, Executive Officer(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 Repayment of Borrowings
Star Asia Investment Corporation (SAR) announces today that it executed partial repayment of borrowings (the“Repayment”), as described below. The Repayment was executed on one of the installment repayment dates
stated in the individual term loan agreement concluded with the following lenders as of April 4, 2017.

1. Details of Repayment(1) Repayment amount:(2) Repayment date:(3) Source for repayment:

990 million yen
August 21, 2017
Part of the transfer fee of 51% of quasi-co-ownership interest of
beneficiary interests in trust in Oak Minami-Azabu. For details,
please refer to the “Notice Concerning Acquisition and Transfer ofReal Estate Beneficiary Interests in Trust” dated February 28, 2017,“Notice Concerning Completion of Transfer of Real Estate
Beneficiary Interests in Trust” dated March 31, 2017 and “NoticeConcerning Completion of Transfer of Real Estate BeneficiaryInterests in Trust” dated August 1, 2017.

2. Summary of Borrowings of which Repayment was Executed
Short-term / Long-term Borrowings (Note 1) (Announced in the “Notice Concerning Debt Financing” dated
March 30, 2017 and the” Notice Concerning Partial Early Repayment of Borrowings” dated May 12, 2017)

Term

LenderShort-term/Long-term

Sumitomo
Mitsui
BankingCorporationand Mizuho
Bank, Ltd.

Borrowingamountbefore theRepayment(million yen)Interestrate1,380(Note 2)

Baseinterest
rate (JBA1 monthyenTIBOR) +0.20%

Date ofborrowing

Borrowing
methodMaturity
dateApril 6,
2017

Borrowing basedon individual termloan agreement
concluded withlenders in the left
column dated
April 4, 2017

April 20,
2018

Repayment
methodSecurity(Note 3)

Installment
payment

Unsecuredandunguaranteed(Note 1) Short-term refers to borrowings due within one year, and long-term refers to borrowings due after one year.
The same applies hereinafter.
(Note 2) Balance after executing the Repayment will be 390 million yen.
(Note 3) The Repayment was executed on one of the installment repayment dates stated in the individual term loan
agreement concluded with the above lenders as of April 4, 2017.

13. Status of Loans etc. after Repayment(Unit: million yen)

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

Before theRepayment
1,380
37,35038,73038,730-After theRepayment
390
37,35037,74037,740-38,730

37,740Total interest-bearing liabilities

Change-990
-990
-990
-9904. Future Outlook
The Repayment is included in the assumptions underlying management status forecast announced in“Financial Report for Fiscal Period Ended January 31, 2017” dated March 17, 2017, and thus there are norevisions to the management status forecasts for the fiscal period ending July 2017 (February 1, 2017 to July31, 2017) and for the fiscal period ending January 2018 (August 1, 2017 to January 31, 2018).
5. Other Matters Required for Investors to Appropriately Understand and Evaluate the above Information
In conjunction with the risks pertaining to the Repayment, etc., there are no changes to “Part 1. Fund
Information, I. Overview of the Fund, 3. Investment Risks” stated in the Securities Registration Statement
submitted on April 27, 2017.
* Star Asia Investment Corporation website address: http://starasia-reit.com/en/2