NEWS RELEASE
January 29, 2024
For Immediate Release

Investment Corporation
Japan Real Estate Investment Corporation
Jo Kato, Executive Director(TSE code: 8952)
Asset Management Company
Japan Real Estate Asset Management Co., Ltd.
Shojiro Kojima , President & CEO
Contact: Masaru Motooka
Executive Officer & General Manager
Strategic Planning Department
Phone: +81-3-3211-7951

Announcement of Loan Prepayment andDebt Financing (Sustainability-Linked Loan)
Japan Real Estate Investment Corporation hereby announces its decision today to repay the existingloans before the due date and to procure funds as follows:

1. Prepayment of Short-Term Loans(I) Prepayment date:
January 31, 2024
(II) Overview of loans to be repaid before the due date:
Loan 1
Loan 2(1)
Amount of loan JPY 5,000 million JPY 1,000 million
to be prepaid(2)
Amount of loan JPY 5,000 million JPY 1,000 million
(3)

(4)
(5)
(6)
(7)
(8)
(9)

Amount of loan
outstanding
after theprepayment
LenderInterest rate
Borrowing date
Method ofborrowing
Interest
payment date
Method ofprincipal
repayment(Note1)(Note2)‐‐Loan 3
JPY 4,500 million

Loan 4
JPY 4,000 million

JPY 6,000 million

JPY 4,000 million

JPY 1,500 million‐Mizuho Bank, Ltd. MUFG Bank, Ltd. Mizuho Bank, Ltd. MUFG Bank, Ltd.
0.1054%0.10545%
0.1054%0.10545%(from December 29, 2023 through January 30, 2024)
August 31, 2023
October 31, 2023
Loan based on overdraft agreement
Unsecured/unguaranteed loan
The principal repayment date and the last day of every month in the period
until the principal repayment dateLump-sum repayment on the principal repayment date1(10)Principal
August 30, 2024
October 31, 2024repayment date(11) Disclosure date August 29, 2023
October 27, 2023
*There will be no early repayment fee due to this loan prepayment.
(Note1) The number stated in the “(2) Amount of loan” refers to the loan amount outstanding after the loan
prepayment as described in the press release titled “Announcement of Loan Prepayment and Debt Financing(Sustainability-Linked Loan)” dated December 20, 2023.
(Note2) The number stated in the “(2) Amount of loan” refers to the loan amount outstanding after the loan
prepayment as described in the press release titled “Announcement of Loan Prepayment and Debt Financing(Sustainability-Linked Loan)” dated November 28, 2023.

2. Funds for Prepayment
The above-mentioned loans will be prepaid by the proceeds from the third transfer of Harumi Front on
January 12, 2024, and the long-term loans described in item 3 below. For details on the disposition ofHarumi Front, please refer to "Announcement of Disposition of Domestic Real Estate" dated November
15, 2022.
3. Debt Financing(I) Reason for the borrowing
To apply the following loans to the prepayment of the above-mentioned loans(II) Overview of the borrowing
Loan 1
Loan 2(1) Amount of loan
JPY 1,000 million
JPY 1,000 million(2) Lender
The Gunma Bank, Ltd.
The Keiyo Bank, Ltd.
(3) Interest rate
0.77125% (fixed) (Note1)(4) Borrowing date
January 31, 2024
(5) Method ofLoan agreement dated January 29, 2024
borrowing
Unsecured/unguaranteed loan(6) Interest payment The principal repayment date and the last day of every January and July in thedate
period until the principal repayment date (Note2)(7) Method ofLump-sum repayment on the principal repayment dateprincipalrepayment(8) Principal
January 31, 2031
repayment date
(Note1) This borrowing will be procured through a sustainability-linked loan (“SLL”), whose loan terms are aligned withJRE’s achievement status of the following sustainability performance target (“SPT”) set beforehand.
・SPT : Reduce CO₂ emissions by 80% by fiscal 2030 (Base year: Fiscal 2019 / Absolute basis)
The applicable interest rate will be lower by 0.01% on the condition that the above target set as SPT is achieved forthe respective performance levels set for July 2024, July 2027, and July 2030 for the period until the performancelevel is next confirmed (for the time of final confirmation, the repayment date). Please refer to “Loans and Bonds”
under Financial Summary of JRE’s website https://www.j-re.co.jp/en_cms/finance/debt.html for the interest rateapplicable after the performance level is confirmed.
Moreover, in concluding the agreement for the SLL, JRE has established “Sustainability-Linked Loan Framework”
and obtained a second‐party opinion from Japan Credit Rating Agency, Ltd. (JCR) with regard to conformity withthe Sustainability Linked Loan Principles and the rationality of the established SPT.
(Note2) When an interest payment date is not a business day, the interest shall be paid on the following business day or
the immediately preceding business day if the following business day is in the following month.

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4. Balance of interest-bearing debt after the debt financing
BeforeShort-term loans payable(Units: millions of JPY)
After

Increase/Decrease

33,00018,500-14,500

22,00022,000±0363,700

365,700+2,000Total loans

418,700

406,200-12,500

Investment corporation bonds32,993

32,993±0

Total
investment corporation bonds

32,99332,993±0Total interest-bearing debt

451,693439,193-12,500

Long-term loans payable(Variable interest rate)Long-term loans payable(Fixed interest rate)

5. Others
Regarding risks pertaining to these loan repayments, there is no material change to thedescriptions of “Investment risks” in the latest securities report submitted on December 25, 2023.

This is the English translation of the announcement in Japanese dated January 29, 2024.
No assurance or warranties are given for the completeness or accuracy of this English translation.
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