September 2, 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 Issuance of Investment Corporation Bonds (Green Bonds) andPrepayment of Borrowings
CRE logistics REIT, Inc. (hereinafter "CRE REIT") hereby announces that it has decided today toissue its first series of unsecured investment corporation bonds ("Green Bonds" or "CRE GreenBonds") and repay borrowings, before the maturity, based on the revised shelf re gistration statement
on August 21, 2020 and the resolution of the CRE REIT Board of Directors at their meeting held on
August 21, 2020, as announced in the "Notice Concerning Submission of Revised Shelf Registration
Statement for Issuance of Green Bonds" on August 21, 2020. Details are as follows.
１．Overview of the investment corporation bonds (Green Bonds)(1) Name

The first series of unsecured investment corporation bonds from
CRE Logistics REIT, Inc. (pari-passu conditions among specified
investment corporation bonds) (Green bonds)(hereinafter the "Green Bonds")(2) Total amount to be issued

2,000 million yen(3) Format of bonds

Investment corporation bond certificates will not be issued for theGreen Bonds pursuant to the provisions of the Act on Book-Entry
Transfer of Corporate Bonds and Shares.

(4) Amount to be paid

100 yen per 100 yen of each investment corporation bond(5) Amount to be redeemed

100 yen per 100 yen of each investment corporation bond(6) Interest rate

0.530% per annum(7) Amount of each investment

100 million yen

corporation bond(8) Offering method

Offering to the general public(9) Application period

Wednesday, September 2, 2020(10) Payment date

Tuesday, September 8, 2020(11) Security and guarantee

There is no security or guarantee for the Green Bonds, and no1

particular assets are reserved for the Green Bonds.
(12) Redemption method anddue date

The total amount of the Green Bonds will be redeemed on
September 8, 2025.
CRE REIT may retire by repurchasing the Green Bonds at any
time after the day following the payment date, unless otherwiseprovided for by the book-entry transfer institution.

(13) Interest payment date

The last day of March and the last day of September every year
(If the interest payment date is a day that is not a bank businessday, interest will be paid in advance on the previous business day.)(14) Financial covenants

A negative pledge clause is established.

(15) Rating acquiredA－(16) Fiscal agent, issuing agent

Mizuho Bank, Ltd.

Rating and Investment Information, Inc.

and paying agent(17) Underwriters

SMBC Nikko Securities Inc. (Green Bond structuring agent (Note1)), Nomura Securities Co., Ltd., and Mizuho Securities Co., Ltd.

Japan Credit Rating Agency, Ltd. (“JCR”) in their third-party evaluation of the issuance structureof the Green Bonds (green finance framework (Note 2)) has assigned CRE REIT a “Green 1 (F),”rating, the highest in the JCR Green Finance Framework Evaluation (Note 3).
(Note 1) “Green Bond structuring agent” is one who supports the issuance of green bonds in formulation of a green bondframework and advices on acquiring second-party opinions.
(Note 2) Regarding the green finance framework, please refer to the CRE REIT website below and the "Notice Concerning
Submission of Revised Shelf Registration Statement for Issuance of Green Bonds" on August 21, 2020.
https://cre-reit.co.jp/ja/finance/greenfinance.html(Note 3) The JCR Green Finance Framework Evaluation is a third-party evaluation of an issuer or borrower's policy for theissuance of green bonds or the borrowing of green loans (green finance policy) based on the 2018 Green Bond
Principles formulated by the International Capital Market Association (ICMA), the Green Loan Principles
formulated by the Loan Market Association (LMA) and the Asia Pacific Loan Market Association (APLMA) andthe 2020 Green Bond Guidelines and the 2020 Green Loan and Sustainability Linked Loan Guidelines formulatedby the Ministry of the Environment. In this evaluation, JCR conducts a Greenness Evaluation to assess whether theprojects stated in the issuer or borrower's green finance policy qualify as green projects, and assess how much of theproceeds are allocated to the green projects, and also assess the issuer or borrower's systems for management,operations and transparency. The JCR Green Finance Framework Evaluation is released as an overall evaluation ofthe results of these assessments. To differentiate the JCR Green Finance Framework Evaluation from individualbond and borrowing evaluations, the JCR Green Finance Framework Evaluation is indicated by adding an (F) to thetail end of the evaluation symbol.
The CRE REIT JCR Green Finance Framework Evaluation is posted on thefollowing JCR website.
https://www.jcr.co.jp/greenfinance/

２．Reason for the issuance
CRE REIT will issue Green Bonds at this time to promote the acquisition of environmentallyconscious logistics facilities and enhance financing methods by expanding the base of investors
interested in ESG investment. For more details, please refer to the "Notice Concerning Submissionof Revised Shelf Registration Statement for Issuance of Green Bonds" on August 21, 2020.

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３．Total amount to be procured, use of proceeds, and scheduled outlay period(1) Total amount to be procured (approximate net proceeds)
1,983 million yen(2) Specific use of proceeds and scheduled outlay period
Proceeds will be appropriated for part of funds for the prepayment (hereinafter the"Prepayment") of borrowings of 600 million yen and borrowings of 250 million yen raised as
funds to acquire LogiSquare Ageo, LogiSquare Miyoshi and LogiSquare Chitose, whic h are
specified assets, as of September, 16, 2020, that meet the eligibility criteria (Note) (hereinafterthe "Green Qualifying Assets"), with January 29, 2021 and July 30, 2021 as the payment dates,
respectively, as well as borrowings of 1,150 million yen raised as funds to refinance the funds foracquiring LogiSquare Kuki and LogiSquare Hanyu, which are Green Qualifying Assets, withJanuary 29, 2021 as the payment date.
(Note) For "eligibility criteria" and "Green Qualifying Assets," please refer to th e "Notice Concerning Submission ofRevised Shelf Registration Statement for Issuance of Green Bonds" on August 21, 2020. The same applies
hereinafter.

４．Investors who expressed their intention to invest in the Green Bonds
Of the investors who expressed their intention to invest in the Green Bonds as of today, those whohave agreed to the disclosure of their names are posted (in Japanese alphabetical order).
・The Echizen Shinkin Bank・Numazu Shinkin Bank・The Kitaosaka Shinkin Bank・The Fuji Shinkin Bank・GUNMAMIRAI Shinkumi Bank・Ryobi Shinyo Kumiai

・Tokushima Shinkin Bank
５．Reporting
If there are unappropriated funds at the time of issuing the Green Bonds or borrowing green loans,
CRE REIT will disclose an appropriation plan, etc. on its website once a year.

In addition, if aproperty for which the proceeds will be used will no longer be a subject of the use of proceeds due toits sale, etc., CRE REIT will disclose this in its press release, etc.
CRE REIT will also disclose the following items on its website once a year.
・Type and rank of environmental certifications and total floor area of the Green Qualifying
Assets・Specific quantities consumed in the properties meeting the eligibility criteria (limited to those
whose figures can be identified on a portfolio basis by CRE REIT,)
Water consumption
Electricity usage
CO2 emissions (or reductions)3

６．Details of the Prepayment(1) Amount to be repaid
2,000 million yen(2) Prepayment date
September 16, 2020 (planned)(3) Funds for prepayment
Approximate net proceeds of 1,983 million yen from the issuance of the Green Bonds will beappropriated. For the difference of about 16 million yen from the total amount to be paid of
2,000 million yen, funds on hand will be appropriated.
(4) Details of borrowings for the Prepayment(Million yen)
Category

LenderLoan amount(Million yen)

2020
July 132021
January 29

Sumitomo Mitsui Banking
Corporation

300

Mizuho Bank, Ltd.

300

MUFG Bank, Ltd.

1,150

2020
July 312021
January 29

Longterm

Maturity date

Short-term loans
payableDrawdown date

Sumitomo Mitsui Banking
Corporation250

2020
July 132021
July 30Total

2,000－－(Note) For more details regarding the borrowings for the Prepayment, please refer to the "Notice Concerning Borrowing ofFunds (New Borrowing and Refinancing)" on June 29, 2020 and the "Notice Concerning Borrowing of Funds (PartialCancellation and Reduction and Final Determination of Loan Amounts of Lenders)" on July 9, 2020.

７．Status of borrowings, etc. after the issuance of the Green Bonds and the Prepayment(Million yen)
Before the issuanceof the Green Bonds
and thePrepayment

After the issuanceof the Green Bonds
and thePrepayment

Short-term loans payable

1,750―(1,750)

Long-term loans payable (Note)

41,91941,669(250)

43,66941,669(2,000)

―

2,000

2,000

43,66943,669―Total loans
Investment corporation bonds
Total interest-bearing debt(Note) Long-term loans payable include the current portion of loans payable.

4Increase ordecrease８．Operating forecasts
The impact of this matter is immaterial, and operating forecasts for the fiscal period ending
December 31, 2020 and the fiscal period ending June 30, 2021, announced on August 17, 2020in the “Summary of Financial Results for the 8th Fiscal Period Ended June 30, 2020” remainunchanged.
９．Other Matters Necessary for Investors to Understand and Assess This Information Properly
Regarding the risks pertaining to the redemption of the Green Bonds, etc., there are nomaterial changes from the content stated in "Part 2. Reference Information, Chapter 2.
Complementary information to reference materials, 4. Investment risks" of the supplementary
document to the shelf registration statement on September 2, 2020.
* CRE Logistic REIT, Inc. website: https://cre-reit.co.jp/en/5