June 27, 2019
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 (newborrowing and refinancing, hereinafter “the Borrowings”).
1. Details of the Borrowings(1) New Borrowing
Category

Lender (Note 1)

Long-term loans payable

Sumitomo Mitsui Banking
Corporation
Mizuho Bank, Ltd.
Development Bank of Japan
Inc.
Resona Bank, Limited.
The
Nishi-Nippon
CityBank, Ltd.
Sumitomo
Mitsui
Trust
Bank, Limited

Loanamount(millionyen)

2,900(Note 2)

Interest
rate

Base rate(Note 3)+0.40%

DrawdowndateJuly 16,2019

Corporation267(Note 4)

Base rate(Note 5)+0.30%

July 16,
2019

Total

3,167

－－Sumitomo Mitsui Banking

Borrowing Repayment
methoddate

Borrowingbased onindividualloanagreement
dated July11,2019, withthe lenders－Repayment
methodNotes

July 31,2023

Lumpsum Unsecu
repaym red/unent at guarantmaturiteedy

July 31,2020

Lumpsum Unsecu
repaym red/unent at guarantmaturiteedy－－－(Note 1) The loan syndicate consists of the following lenders: Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd.,
Development Bank of Japan Inc., Resona Bank, Limited, The Nishi-Nippon City Bank, Ltd., and Sumitomo Mitsui Trust
Bank, Limited. The arranger is Sumitomo Mitsui Banking Corporation.
(Note 2) The breakdown is not yet determined but will be announced once this is the case.
(Note 3) The base interest rate is the three-month Japanese yen TIBOR (quoted on a 365-day basis) published by the JBA TIBORAdministration at 11:00 am two business days prior to an immediately preceding interest payment date of each interest
payment date (the first interest payment date is the drawdown date). However, when there is no interest rate corresponding to
the period, the base interest rate will be calculated using the method stipulated in each loan agreement. Details on the JBA
Japanese TIBOR can be checked 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 effectively be fixed by concluding
an interest rate swap agreement. Details of the agreement will be announced when it is concluded.
(Note 4) It is the estimated loan amount as of today’s date, and the ultimate loan amount will be determined before the loan is
executed after taking into account the amount of the proceeds from the issuance of new investment units through public1

offering stated in the “Notice Concerning Issuance of New Investment Units and Secondary Offering of Investment Units”
released today. The same applies hereafter.
(Note 5) The base interest rate is the one-month Japanese yen TIBOR (quoted on a 365-day basis) published by the JBA TIBOR
Administration at 11:00 am two business days prior to an immediately preceding interest payment date of each interest
payment date (the first interest payment date is the drawdown date). However, when there is no interest rate corresponding
to the period, the base interest rate will be calculated using the method stipulated in each loan agreement. Details on the JBA
Japanese TIBOR can be checked via the administration’s website (http://www.jbatibor.or.jp/english/). Note thatcommissions and fees paid to the above lenders are not included.

(2) Refinancing
Category

Lender (Note 1)

Loanamount(millionyen)

Long-term loans payable

Sumitomo Mitsui Banking
Corporation

936

Mizuho Bank, Ltd.

785

MUFG Bank, Ltd.

785

Development Bank of Japan
Inc.

250

Resona Bank, Limited.

499

The Nishi-Nippon City Bank,Ltd.
Sumitomo Mitsui Banking
Corporation
Mizuho Bank, Ltd.
MUFG Bank, Ltd.
Development Bank of Japan
Inc.
Resona Bank, Limited.
The Nishi-Nippon City Bank,
Ltd.
Total

Drawdown
date

Borrowing Repayment
methoddate

Repayment
methodJuly 31,
2019

Borrowingbased onindividual
loan
agreement
dated July26,
2019, withthe lenders

July 30,2021

Lumpsum Unsecu
repaym red/unent at guarantmaturiteedy

Base rate(Note 2)+0.45%

July 31,
2019

Borrowingbased onindividual
loan
agreement
dated July26,
2019, withthe lenders

July 31,2024

Lumpsum Unsecu
repaym red/unent at guarantmaturiteedy－－－－

Interestrate

Base rate(Note 2)+0.30%

319

3,105(Note 3)

6,679－Notes－(Note 1) The loan syndicate consists of the following lenders: Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., MUFGBank, Ltd., Development Bank of Japan Inc., Resona Bank, Limited, and The Nishi-Nippon City Bank, Ltd. The arranger isSumitomo Mitsui Banking Corporation.
(Note 2) The base interest rate is the three-month Japanese yen TIBOR (quoted on a 365-day basis) published by the JBA TIBOR
Administration at 11:00 am two business days prior to an immediately preceding interest payment date of each interest
payment date (the first interest payment date is the drawdown date). However, when there is no interest rate corresponding to
the period, the base interest rate will be calculated using the method stipulated in each loan agreement. Details on the JBA
Japanese TIBOR can be checked 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 effectively be fixed by concluding
an interest rate swap agreement. Details of the agreement will be announced when it is concluded.
(Note 3) The breakdown is not yet determined but will be announced once this is the case.

2. Reason for the Borrowings(1) New Borrowing
The Borrowings are to provide for the acquisition funds and incidental expenses for two properties to beacquired (hereinafter “the property to be acquired”) stated in the “Notice Concerning Acquisition of Trust
Beneficiary Rights to Real Estate in Japan and Loans” released today.
(2) Refinancing
The Borrowings are to fund the repayment of 6,680 million yen loans that will become due on July 31,
2019.

2

Cate-Loan amount(million yen)

Lendergory

Long-term loans payable

Sumitomo Mitsui Banking Corporation

1,200

MUFG Bank, Ltd.

1,000

Mizuho Bank, Ltd.

1,000

Resona Bank, Limited.

500

The Nishi-Nippon City Bank, Ltd.

300

Sumitomo Mitsui Banking Corporation

586

MUFG Bank, Ltd.

465

Mizuho Bank, Ltd.

465

Development Bank of Japan Inc.

465

Resona Bank, Limited.

419

The Nishi-Nippon City Bank, Ltd.

279

Total

6,680

Drawdown date

Repayment dateJuly 27, 2016

July 31, 2019

April 2, 2018

July 31, 2019－－3. Amount, Use and Scheduled Disbursement Date of Funds(1) New Borrowing(i) Amount of funds to be procured: 3,167 million yen(ii) Specific use of funds to be procured: Acquisition funds and incidental expenses for the property to beacquired(iii) Scheduled disbursement date: July 16, 2019(2) Refinancing(i) Amount of funds to be procured: 6,679 million yen(ii) Specific use of funds to be procured: Repayment of existing loans(iii) Scheduled disbursement date: July 31, 2019
4. Status of Loans, etc. after the Borrowings(Million yen)
Before drawdown

After drawdown

Increase ordecrease

Short-term loans payable―――

Long-term loans payable

23,82026,986

3,166

23,82026,986

3,166

―

―

―

23,82026,986

3,166

Total loans
Investment corporation bonds
Total interest-bearing debt(Note) Short-term loans payable are loans with a borrowing period of a year or less, and long-term loans payable are loans with aborrowing period of more than a year. Long-term loans payable include the current portion of loans payable.

5. Future Outlook
The impact of the Borrowings and repayment was reflected in the forecasts of performance for the fiscal
periods ending December 2019 and June 2020, announced in the “Notice Concerning Revised Forecasts of3

Performance for the Fiscal Period Ending December 2019 and Forecasts of Performance for the Fiscal PeriodEnding June 2020” released today.
6. Other Matters Necessary for Investors to Understand and Assess This Information Properly
The risks related to the Borrowings and repayments have not been changed significantly from those stated in“Part 2: Reference information, 2. Reference material: Supplementary information, (3) Investment risk” ofthe securities registration statement submitted today.

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

4