June 29, 2020
To All Concerned Parties
Name of REIT Issuer:
CRE Logistics REIT, Inc.
2-10-1, Toranomon, Minato-ku, Tokyo, Japan
Tsuyoshi Ito, Executive Director(TSE Code: 3487)
Asset Management Company
CRE REIT Advisers, Inc.
Tsuyoshi Ito, President
Person of Contact:
Hirohisa Toda, Head of Corporate Planning
Tel: +81-3-5575-3600

Notice Concerning Borrowing of Funds (New Borrowing and Refinancing)
CRE Logistics REIT, Inc. (hereinafter “CRE REIT”) announces its decision today to borrow funds(new borrowing and refinancing. Hereinafter collectively “the Borrowings”). Details are as follows.
記1． Details of the Borrowings(1) New Borrowing (Note 1)
Category(Note2)

Loanamount(millionyen)

LenderInterestrate

Repay
Drawdow Borrowin Repaymen mentn dateg methodt datemethodNotes

Sumitomo Mitsui Banking
Corporation
Long-term loans payable (Note 3)

Mizuho Bank, Ltd.
Development Bank of JapanInc.
Sumitomo

Mitsui

Trust

Bank, Limited(Note 5)Resona Bank, Limited
The

Nishi-Nippon

7,400

Base rate(Note 7)+0.500%CityBank, Ltd.
The Bank of Fukuoka, Ltd.
Shinsei Bank, Limited
The Hyakujushi Bank, Ltd.

Short-termloans payable(Note 4)

Sumitomo Mitsui Banking
Corporation300

Mizuho Bank, Ltd.

300

Base rate(Note 8)+0.300%1

Borrowingbased onindividual
July 13,loan
2020
agreements to be(Note 9) concludedon July 9,2020(Note 9)with thelenders

July 31,2026

January29, 2021

Lumpsum
Unsec
repay
ured
mentUngua
atranteematuridty

Lumpsum Unsec
ured
repayUngua
mentrantee
atdmaturityLong-termloans payable

Lump- Unsec
sum
ured
repay Ungua
ment rantee
Unsec
Base rate
July 30, Lumpatd
Sumitomo Mitsui Banking
400sumured(Note 8)
2021
maturiCorporation(Note 6)
repayUngua+0.300%ty
ment rantee
Total
9,280
－－－－－－atd(Note 1) For the borrowings above, loan agreements have not been concluded as of today’s date. Therefore,
maturi it is nottyguaranteed that actual borrowing will be made, and the amount of borrowing may also change.
Sumitomo Mitsui Banking
880
Corporation(Note 6)

Base rate(Note 8)+0.300%July 30,2021(Note 2) Long-term loans payable are loans with a borrowing period of more than a year, and short -term loans payable areloans with a borrowing period of a year or less. The same applies hereafter.
(Note 3) The loan syndicate is to consist of the following lenders: Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd.,
Development Bank of Japan Inc., Sumitomo Mitsui Trust Bank, Limited, Resona Bank, Limited, The Nishi -Nippon
City Bank, Ltd., The Bank of Fukuoka, Ltd., Shinsei Bank, Limited and The Hyakujushi Bank , Ltd. The arranger
is Sumitomo Mitsui Banking Corporation.
(Note 4) The loan syndicate is to consist of the following lenders: Sumitomo Mitsui Banking Corporation and Mizuho Bank,
Ltd. The arranger is Sumitomo Mitsui Banking Corporation.
(Note 5) The breakdown is not yet determined and will be announced when it has been determined.
(Note 6) These are the estimated maximum amount of the loans as of today’s date, and the ultimate loan amount may change
before the drawdown date after taking into account the amount of the proceeds from the issuance of new investment
units through public offering, as stated in the “Notice Concerning Issuance of New Investment Units and Secondary
Offering of Investment Units” released today. The same applies hereafter.
(Note 7) The base interest rate is the three-month Japanese yen TIBOR (quoted on a 365-day basis) published by the JBA
TIBOR Administration for a period corresponding to the interest calculation period at 11:00 am two business days
prior to the immediately preceding interest payment date of each interest payment date (the first interest payment
date is the drawdown date). However, if there is not a rate corresponding to the relevant period, the base interest
rate will be determined based on the method stipulated in the contract. Details on the JBA Japanese TIBOR can bechecked via the administration’s website (http://www.jbatibor.or.jp/english/). Note that commissions and fees paid
to the above lenders are not included. In addition, the base interest rate will effec tively be fixed by concluding aninterest rate swap agreement.
(Note 8) The base interest rate is the one-month Japanese yen TIBOR (quoted on a 365-day basis) published by the JBA
TIBOR Administration for a period corresponding to the interest calculation period at 11:00 am two business days
prior to the immediately preceding interest payment date of each interest payment date (the first interest payment
date is the drawdown date). However, if there is not a rate corresponding to the relevant period, the ba se interest
rate will be determined based on the method stipulated in the contract. Details on the JBA Japanese TIBOR can bechecked via the administration’s website (http://www.jbatibor.or.jp/english/). Note that commissions and fees paid
to the above lenders are not included.
(Note 9) These dates may be changed in line with changes in the issue price determination date for the issuance of new
investment units in the primary offering, as stated in the “Notice Concerning Issuance of New Investment Units andSecondary Offering of Investment Units” released today.

2(2) Refinancing (Note 1)
Category

Loanamount(millionyen)

LenderLong-term loans
payable(Note 2)

Sumitomo Mitsui Banking
Corporation

1,000

Mizuho Bank, Ltd.

850

Resona Bank, Limited

500

The Nishi-Nippon
Bank, Ltd.

City

Interest
rate

Base rate(Note 3)+0.525%200

Short-term loans
payableMUFG Bank, Ltd.

1,150

Base rate(Note 4)+0.300%Total

3,700－RepayDrawdow Borrowin Repaymen mentn dateg methodt datemethodLumpsum
repay
Borrowing January
ment
based on 29, 2027
atindividual
maturiloantyJuly 31,agreement
2020
dated July
Lump29, 2020,sumwith therepay
Januarylenders
29, 2021 mentatmaturity－－－－

Notes

Unsec
ured
Ungua
ranteedUnsecured
Ungua
ranteed－(Note 1) For the borrowings above, loan agreements have not been concluded as of today’ date. Therefore, it is not guaranteedthat actual borrowing will be made, and the amount of borrowing may also change.
(Note 2) The loan syndicate is to consist of the following lenders: Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd.,
Resona Bank, Limited and The Nishi-Nippon City Bank, Ltd. The arranger is Sumitomo Mitsui Banking Corporation.
(Note 3) The same as (Note 7) in (1) above.
(Note 4) The same as (Note 8) in (1) above.

2． Reason for the Borrowings(1) New Borrowing
The new borrowing is to provide for the acquisition funds and incidental expenses for threeproperties to be acquired (hereinafter “the Properties to Be Acquired”) stated in the “NoticeConcerning Acquisition of Trust Beneficiary Rights to Real Estate in Japan and Leasing” released
today.
(2) Refinancing
The refinancing is to provide for funds to repay the following loans payable of 3,700 million yenthat are to become due on July 31, 2020.
CategoryLender

Loan amount(million yen)

Long-term loans payable

Sumitomo Mitsui Banking Corporation

900

MUFG Bank, Ltd.

750

Mizuho Bank, Ltd.

750

Resona Bank, Limited

500

The Nishi-Nippon City Bank, Ltd.

200

Sumitomo Mitsui Banking Corporation

100

MUFG Bank, Ltd.

400

Mizuho Bank, Ltd.

100Total

3,700

3Drawdown date

Repayment dateJuly 27, 2016

July 31, 2020

July 31, 2018

July 31, 2020－－

3． Amount, Use and Scheduled Disbursement Date of Funds(1) New Borrowing(i) Amount of funds to be procured: 9,280 million yen(ii) Specific use of funds to be procured: Acquisition funds and incidental expenses for theProperties to Be Acquired(iii) Scheduled disbursement date: July 13, 2020
(2) Refinancing(i) Amount of funds to be procured: 3,700 million yen(ii) Specific use of funds to be procured: Funds to repay the existing loans payable(iii) Scheduled disbursement date: July 31, 2020
4． Status of Loans, etc. after the Borrowings(million yen)

Short-term loans payable

Before theAfter theIncrease orBorrowings―

Borrowings
1,750

decrease

35,71943,2497,530

35,71944,999

9,280

―

―

―

35,71944,9999,280

Long-term loans payable (Note)
Total loans payable
Investment corporation bonds
Total interest-bearing debt

1,750(Note) Long-term loans payable include the current portion of loans payable.

5． Future Outlook
The Borrowings do not have an impact on operating results for the fiscal period ending June 30,
2020. For information on the outlook of the operating results of CRE REIT for the periods ending
December 31, 2020 and June 30, 2021, please refer to the “Notice Concerning Revision of Forecastsof Operating Results for the Period ending December 31, 2020 and Forecasts of Operating Results
for the Period ending June 30, 2021,” announced on June 29, 2020.
6． Other Matters Necessary for Investors to Understand and Assess This Information Properly
The risks related the Borrowings have not changed significantly from those stated in “Part 2:Reference information, 2. Reference material: Supplementary information, (3) Investment risk” ofthe securities registration statement submitted today and “Part 1: Information on the Fund, 1.
Situation of the Fund, (3) Investment risk” of the securities report submitted on March 24, 2020.

* CRE Logistic REIT, Inc. website: https://cre-reit.co.jp/en/4