July 1, 2020
FOR IMMEDIATE RELEASE
Activia Properties Inc.
21-1, Dogenzaka 1-chome, Shibuya-ku, Tokyo
Kazushi Sato
Executive Director(Code: 3279)
Asset Management Company
TLC REIT Management Inc.
Hiroyuki Tohmata
President & CEOInquiries
Kazuyuki Murayama
General Manager of Strategy Department
Activia Management Division(Tel: +81-3-6455-3377)

Notice Concerning the Change of Counterparty Name of Affiliate Support Agreement
Activia Properties Inc. (“API”) announces the change of the counterparty name of the Affiliate Support
Agreement which TLC REIT Management Inc. (“TRM”), to which API entrusts its asset management
operations, has entered into with Tokyu Stay Co., Ltd. (“Tokyu Stay”) to Tokyu resorts & stays Co., Ltd.
(“Tokyu resorts & stays”). Details are as follows:

1．Reasons of the change
Due to the merger of operation companies of hotel and resort businesses of Tokyu Fudosan HoldingsGroup to strengthen their structure, Tokyu Stay, one of the companies with which TRM has entered into
affiliate support agreements, changed its name to Tokyu resorts & stays. Following this change, the company
name of the counterparty to the affiliate support agreement TRM has entered into with Tokyu Stay is alsochanged to Tokyu resorts & stays.
Tokyu resorts & stays continues “stay business” (hotel business) of Tokyu Stay and API will also continue toutilize the support from its company through information provision of hotel business and others.
2．Overview of the affiliate support agreement
Pursuant to the affiliate support agreement, Tokyu resorts & stays provides the following information andknowhow and business assistance to TRM, which is substantially same as before:
i. Information on proposed sales of certain properties leased or managed by Tokyu resorts & stays orotherwise involving Tokyu resorts & stays’ participation that meet the TRM’s investment guidelines.
ii. Consideration in good faith whether Tokyu resorts & stays will be a tenant in a property owned by orplanned to be owned by API, if proposed by API or TRM.
iii. Real estate market information.
3. Profile of Tokyu resorts & stays
Name
Address
Management
Amount of capital

Tokyu resorts & stays Co., Ltd.
10-8, Dogenzaka 1-chome, Shibuya-ku, Tokyo
President, Tatsuaki Tanaka¥100 million

1EstablishedBusiness description

March 13, 1979 (Date of the name change: July 1, 2020)
・Management of the urban hotels, Tokyu Stay (28 locations*)*at the present time・Management of the members-only resort hotels, Harvest (25 facilities 29clubs)
・Management of the accommodations (25 facilities)
・Management of the members-only and public golf courses (24 facilities)
・Management of the skiing grounds (9 facilities), etc.
Relationships with API and TRM
Tokyu resorts & stays is a wholly owned subsidiary of Tokyu Land
Capital relationship
Corporation, a 100% parent company of TRM.
Personnel relationship

None

Business relationship

TRM has entered into the affiliate support agreement with Tokyu resorts& stays.

Related party or not

Tokyu resorts & stays is not a related party of API, but is an interested
party of TRM. Also, Tokyu resorts & stays is an interested party under
Act on the Investment Trusts and Investment Corporation.

4．Date of the change: July 1, 2020
*Website of the Investment Corporation: https://www.activia-reit.co.jp/en/2