Creating peace of mind through honest and committed management.

[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

April 14, 2016
REIT Issuer
Ichigo Office REIT Investment Corporation (8975)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
www.ichigo-office.co.jp/english
Asset Management Company
Ichigo Real Estate Investment Advisors Co., Ltd.
Representative: Wataru Orii, President & Representative Statutory Executive Officer
Inquiries: Hiroto Tajitsu, Head of Administration & Statutory Executive Officer
Tel: +81-3-3502-4891

Notice of Partial Repayment of Existing Loans
Ichigo Office REIT is conducting a partial repayment of existing loans (total 1,560 million yen)using part of the proceeds from the sale of Ichigo Meieki Building and Ichigo Yokohama
Nishiguchi Building, as announced in the March 4, 2016 release “Sale of Portfolio Assets(Ichigo Meieki Building, Ichigo Yokohama Nishiguchi Building)” and the sale of Ichigo Saga
Building as announced in the March 16, 2016 release “Sale of Portfolio Asset (Ichigo SagaBuilding).”

1. Reason for Partial Repayment
This early repayment of relatively high-interest loans is being conducted to reduce interest
expenses. This partial repayment is part of Ichigo Office REIT’s strategic portfolio restructuring
announced on April 8, 2016.1
1For details, please refer to the April 8, 2016 releases “Acquisition of Five Office Assets,”“Earnings and Dividend Forecast Revision for the October 2016 Fiscal Period and Forecast forthe April 2017 Fiscal Period,” and “Strategic Portfolio Restructuring.”
2. Repayment Details
SMBC Syndicate Loan I (Term Loan 2)
Lenders

Outstanding Balance before Repayment
Repayment Amount
Outstanding Balance after Repayment
Date of Repayment
Borrowing Rate
Collateral
Date of Borrowing
Repayment Due Date

Sumitomo Mitsui Banking Corporation; Mizuho
Trust & Banking Co., Ltd.; Aozora Bank, Ltd.;
Shinsei Bank, Limited; Resona Bank, Limited.
910 million yen
910 million yen
None
April 14, 2016
1.91575% (fixed)
NoMay 9, 2012
April 28, 20171

SMBC Syndicate Loan I (Term Loan 4)
Lenders

Outstanding Balance before Repayment
Repayment Amount
Outstanding Balance after Repayment
Date of Partial Repayment
Borrowing Rate
Collateral
Date of Borrowing
Repayment Due Date

Sumitomo Mitsui Banking Corporation; Mizuho
Trust & Banking Co., Ltd.; Resona Bank,Limited.
3,152 million yen
650 million yen
2,502 million yen
April 14, 2016
1.64777% (fixed)No
January 31, 2013
October 31, 2017

3. Earnings Outlook
The impact of the repayment on Ichigo Office REIT’s earnings and dividend forecasts for theOctober 2016 and April 2017 fiscal periods is minimal, and therefore the forecasts are unchanged.

2Reference: Loan Composition after Partial Repayment
Outstanding Loan Balance (as of April 14, 2016)(million yen)
Beforerepayment

Afterrepayment

ChangeShort-term borrowings

000

Long-term borrowings(due within one year)1283

255

-27

Long-term borrowings

80,76979,237-1,532

Total borrowings

81,05379,492-1,560000

81,05379,492-1,560

Other interest-bearing liabilities

000

Total interest-bearing liabilities

81,05379,492-1,560Investment corporation bonds
Total borrowings and investment
corporation bonds

1

Includes partial repayments of existing loans

3Loan Repayment Date Distribution (as of April 14, 2016)
Before Partial Repayment(million yen)
20,00015,00010,000

8,938

9,563

9,574

Apr 2020

Oct 2020

10,233
9,139

9,129

Oct 2021

Apr 2022

7,263
6,527

5,867

5,000

3,070
882
0
Apr 2016

Oct 2016

Apr 2017

Oct 2017

Apr 2018

Oct 2018

Apr 2019

Oct 2019

Apr 2021

After Partial Repayment(million yen)
20,00015,00010,000

8,938

9,563

9,574

Apr 2020

Oct 2020

10,233
9,139

9,129

Oct 2021

Apr 2022

7,263
6,527
5,867
5,000

2,420

0
Apr 2016Oct 2016

Apr 2017

Oct 2017

Apr 2018

Oct 2018

Apr 2019

4

Oct 2019

Apr 2021