<Provisional translation>
May 12, 2014
For Immediate Release
REIT Issuer
Hankyu REIT, Inc. (Securities Code: 8977)
19-19 Chaya-machi, Kita-ku, Osaka
Yoshiaki Shiraki, Executive Director
Asset Management Company
Hankyu REIT Asset Management, Inc.
Yoshiaki Shiraki, President & Representative
Director
Contact:
Akihisa Nakano
General Manager, Corporate Planning Dept.
Email: hankyureit-ir@hankyu-rt.jp

Notice Concerning Debt Financing
Hankyu REIT, Inc. (hereafter “Hankyu REIT”) announces its decision made today to undertake debt financing
as described below.
1. Details of Debt Financing (Scheduled)Category

Short-termborrowing

LenderAmount of debt
financing(millions of yen)
(Note 2)

Sumitomo Mitsui
Banking Corporation

2,000

Mizuho Trust & Banking
Co., Ltd.

1,000

The Bank of TokyoMitsubishi UFJ, Ltd.

500

Mizuho Bank, Ltd.

500

Mitsubishi UFJ Trust andBanking Corporation

500

Sumitomo Mitsui Trust
Bank, Limited

300

The Senshu Ikeda
Bank, Ltd.,

200

Total

Interest rate
(Note 3)

Base interest
rate (JBA 3-monthJapanese Yen
TIBOR) + 0.35%

Variable interestrate

Drawdowndate

June 23,
2014

Lendingandrepayment
methods

Unsecured/
non-guaranteedLump-sum
repayment

MaturitydateJune 23,
2015

5,000

Note 1: This information is based on the notice on results of studies (hereinafter referred to as the “Financial Letter ofIntent”) issued by financial institutions regarding the debt financing and does not guarantee actual conduct offinancing.
Note 2: Amount of debt financing indicates the maximum amount stated in the Financial Letter of Intent. The actual
amount of debt financing may decrease in accordance with the total amount of the purchase price in primaryoffering and in Third-Party allotment and such described in “Notice Concerning the Issuance of New Investment
Units and Secondary Offering of Investment Units” announced today.
Disclaimer: This document is a press release to make a public announcement of debt financing of Hankyu REIT, and has not been prepared as asolicitation for investment. Hankyu REIT cautions investors to ensure that they refer to the prospectus for notification of the issuance of new investment
units and secondary offering of investment units as well as amendments thereto prepared by Hankyu REIT, if any, before undertaking investments andinvestments be made at their own discretion and responsibility.

1Note 3: • Base interest rate applied on the interest to be paid on interest payment date will be JBA 3-month Japanese YenTIBOR as of two days prior to the most recent interest payment date (in case of first payment, this will be thedrawdown date) of each interest payment date. (The JBA 3-month Japanese Yen TIBOR as of May 9, 2014 is0.21%.)• The JBA 3-month Japanese Yen TIBOR can be referenced on the website of the JBA TIBOR Administration:
http://www.jbatibor.or.jp/english/rate/• In the future, Hankyu REIT will not provide notification regarding the determination of interest rates related tothe aforementioned borrowing. As for changes to the applicable base interest rate, please refer to the website ofJBA.

2. Reason for Debt Financing
These funds will be allocated to acquisition funds of new specified asset ((tentative name) MANDAI Gojo
Nishikoji Store (site)) described in “Notice Concerning Acquisition of Domestic Real Estate Trust
Beneficiary Interests” announced today. The remaining amount is planned be held as cash on hand andallocated to future acquisition funds of specified assets and such.
3. Total Amount to be Procured, Use of Funds and Schedule Expenditure Date
(1) Amount to be procured
5,000 million yen (planned)(2) Specific use of the funds procured
To be allocated to acquisition funds of the specific asset(3) Expenditure Date
June 2014 (planned)
4. Balance of Interest-bearing Liabilities After Execution of Debt Financing
Before execution ofthe debt financing(millions of yen)
Short-term borrowings
Long-term borrowings (Note)
Total debt financing
Investment corporation bonds
Total interest-bearing liabilities

050,900
50,9006,00056,900

After execution of
the debt financing(millions of yen)
5,000
50,90055,9006,000
61,900Change(millions of yen)
+5,000±0+5,000±0+5,000(Note) Long-term borrowings are loans with a repayment term (from the drawdown date until the maturity date) exceeding one year.

5. Other
The risks associated with this debt financing, such as risks of repayment, have not changed in any material
way from the “risks associated with the fund procurement through additional issuance of new investment
units, debt financing and issuance of investment corporation bonds” in the “Investment Risks” stated in theSecurities Report for the 17th fiscal period (submitted on February 25, 2014).

•The Japanese original document was distributed to press clubs within the Tokyo Stock Exchange (Kabuto Club), Osaka
Securities Exchange, and Ministry of Land, Infrastructure, Transport and Tourism, and to the press club of the construction
trade newspaper of the Ministry of Land, Infrastructure, Transport and Tourism.

•Hankyu REIT website: http://www.hankyu-reit.jp/eng/

Disclaimer: This document is a press release to make a public announcement of debt financing of Hankyu REIT, and has not been prepared as asolicitation for investment. Hankyu REIT cautions investors to ensure that they refer to the prospectus for notification of the issuance of new investment
units and secondary offering of investment units as well as amendments thereto prepared by Hankyu REIT, if any, before undertaking investments andinvestments be made at their own discretion and responsibility.

2