May 29, 2008
To All Concerned Parties
Name of REIT Issuer:
TGR Investment Inc.
Takashi Tsunogae, Executive Director
6-2, Gobancho, Chiyoda-ku, Tokyo, Japan(Securities Code: 8963)
URL: http://www.tgr-inv.co.jp/eng/
Asset Management Company:
GrowthREIT Advisors, Ltd.
Shibatsuji Naoki, CEOContact: Hideyo Hironaka, Director(Tel. +81-3-3238-5341)

Notice Concerning Transaction with Related Parties(Change of Tenant)TGR Investment Inc. (TGR) announces a change of the tenant of real estate in TGR’s
portfolio was approved on May 23, 2008 as follows.
1.

Details of Change of Tenant
(1)
(2)
(3)
(4)

Subject Real Estate
Former Tenant
New Tenant
Date of Change::::As indicated in the table below.
Apamanshop REIT Park Inc.
Apamanshop Leasing Co., Ltd.
June 1, 2008

Property
Number

Property Name

Location

C01

Stop Parking Kanda-Sudacho

1-22-7, 1-22-15, Kanda-Sudacho,Chiyoda-ku, Tokyo

81.04

C02

Stop Parking Chiba-Chuo

4-13-6, 4-13-30, Chuo, Chuo-ku, Chiba
City, Chiba Prefecture

312.40

C03

Stop Parking
Tokuyama-eki-mae

2-29, Minami-Ginza, Shunan City,
Yamaguchi Prefecture1,678.49

C04

Kokura-Kosan East Parking

3-2-73, 3-2-352, Asano, Kokura-Kita-ku,
Kita-Kyusyu City, Fukuoka Prefecture

6,950.00

1Leasable
Area (m2)Property
Number

Property Name

Location

Leasable
Area (m2)

C05

Stop Cycle Shin-Koiwa 1st

1-1301-2, Shin-Koiwa, Katsushika-ku,
Tokyo

131.90C06

Stop Cycle Shin-Koiwa 2nd

1-1-9, 1-1-10, 1-1-25, 1-1-26, Shin-Koiwa,
Katsushika-ku, Tokyo

254.53C07

Stop Parking
Hiratsuka-Beniyacho

4-7, 4-8, Beniyacho, Hiratsuka City,
Kanagawa Prefecture211.89

4-8-10, 4-8-11, 4-8-21, 4-8-22, Kita-Urawa,
Urawa-ku, Saitama City, Saitama
Prefecture
1187-9, 1187-15, Souryo-aza Kannon-mae,Matsuda-cho, Ashigarakami-gun,Kanagawa Prefecture

C08

Stop Parking Kita-Urawa

145.32

C09

Stop Parking Shin-Matsuda

C10

Stop Parking Yotsukaido

1-7-7, Yotsukaido, Yotsukaido City, Chiba
Prefecture

107.99

C11

PEIT Uchi –Kanda (Note)

3-18-8, 3-18-10, 3-18-11, Uchi-Kanda,
Chiyoda-ku, Tokyo

70.23

C12

PEIT Ikegami (Note)

6-71-18, Ikegami, Ota-ku, Tokyo

91.20340.52(Note) A property that TGR plans to acquire on May 30, 2008.

2.

Reason for Change

The change is being made because Apamanshop REIT Park Inc. is scheduled to hand overits parking business and property management business to Apamanshop Leasing Co., Ltd.,effective June 1, 2008. Both Apamanshop REIT Park Inc. and Apamanshop Leasing Co.,
Ltd. are subsidiaries of Apamanshop Holdings Co., Ltd., which is the parent company of theAsset Management Company. Please refer to the “Notice Concerning Transfer ofBusinesses between Subsidiaries,” dated April 21, 2008, announced by ApamanshopHoldings Co., Ltd. for details.

3.

Profile of Related Party

The new tenant, Apamanshop Leasing Co., Ltd., constitutes a related party as defined in
the Law Concerning Investment Trusts and Investment Corporations (hereinafter, the“Investment Trust Law”).
2

[Profile of Related Party]
Company Name

Apamanshop Leasing Co., Ltd.

Office Address

Central Building, 1-1-5, Kyobashi, Chuo-ku, Tokyo

Representative

Koji Ohmura, President and CEO

Capital

JPY 90 million

Major Shareholder

Apamanshop Holdings Co., Ltd.

Major Businesses

Rental brokerage and property management

Relationship with TGR and its
Asset Management Company

Apamanshop Leasing Co., Ltd. is a wholly-owned subsidiary of
Apamanshop Holdings Co., Ltd. Consequently, it constitutes a related
party as defined in the Investment Trust Law. ApamanshopHoldings Co., Ltd. is the full parent company of PAREX Inc., which isthe full parent company of TGR’s Asset Management Company.

100.00%Note: This English language notice is a translation of the Japanese language notice released on May 23,
2008 and was prepared solely for the convenience of, and reference by, non-Japanese investors. Nowarranties or assurance are given for its accuracy or completeness of this English translation.

3