This English translation is provided for information purposes only. If any discrepancy is identified between thistranslation and the Japanese original, the Japanese original shall prevail.
January 24, 2022
REIT Issuer:
Japan Hotel REIT Investment Corporation (TSE code: 8985)
Kaname Masuda, Executive Director
Asset Management Company:
Japan Hotel REIT Advisors Co., Ltd.
Hisashi Furukawa, Representative Director and President
Contact:
Makoto Hanamura
Director of the Board, Managing Director
Head of Finance and Planning Division
TEL: +81-3-6422-0530
Notice Concerning New Loan (Refinancing)
Japan Hotel REIT Investment Corporation (hereinafter called “JHR”) informs you that JHR resolved as below
today on new borrowing (hereinafter called the “New Loan”) for the purpose of refinancing of the existing loan.

1. Summary of the New Loan
JHR plans to refinance the existing loan, which is due on January 31, 2022 (hereinafter called the “Loan Scheduledfor Repayment”).
2. Details of the New Loan
(1) Total Amount of the New Loan
JPY5,511M(2) Details of the New Loan
Name of Loan
LenderAmount of the New Loan
Interest Rate
Date of Borrowing
Method of Borrowing

Interest Payment DateMethod of Principal Repayment
Maturity Date
Collateral

Term Loan 73
Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., Shinsei Bank,Limited, Sumitomo Mitsui Trust Bank, Limited, Resona Bank, Limited,
Aozora Bank, Ltd.
JPY5,511M
Base interest rate (JBA Japanese Yen TIBOR for 3 months) + 0.50% (*1)
January 31, 2022 (plan)
Individual loan contracts to be concluded on January 27, 2022 with thelenders indicated above based on the Basic Agreement concluded on
November 13, 2013 (including subsequent amendments).
The first interest payment date is the end of March 2022. Subsequent interest
payment dates shall be at the end of June 2022, the end of September 2022,
the end of December 2022 (if the payment date is not a business day, it shallbe paid on the preceding business day) and on the maturity date.
Lump-sum payment on the maturity date
January 31, 2023 (borrowing term: 1 year)
Unsecured/Unguaranteed1(*1) Base interest rate to be applied to the calculation period for the interest to be paid at interest payment dates will beJBA Japanese Yen TIBOR for 3 months at 2 business days prior to preceding interest payment date. Please refer tothe website of JBA TIBOR Administration for the JBA Japanese Yen TIBOR(http://www.jbatibor.or.jp/english/rate/).

3. Summary of the Loan Scheduled for Repayment(1) Summary of the repayment
JHR plans to repay the loan with using the New Loan.
(2) Total amount of the repayment
JPY5,511M(3) Scheduled date of the repayment
January 31, 2022
(4) Details of the subject individual loan
Loan

Date of borrowing

Term Loan 11
Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., Shinsei
Bank, Limited, Sumitomo Mitsui Trust Bank, Limited, Resona Bank,Limited, Aozora Bank, Ltd.
January 30, 2015

Maturity date

January 31, 2022

Borrowing balance

JPY5,511M

Lenders

4. Status of the Interest-Bearing Debt Before and After the New Loan (scheduled)(Unit: millions of yen)
Category

BeforeAfterVariance

Short-term loans

24,00229,513+5,511Long-term loans (*2)

100,652

95,141(5,511)

Total Loans

124,654

124,6540

Total investment corporation bonds

40,10040,1000

164,754

164,7540

Total interest-bearing debt(*1) Amounts are rounded down to the nearest millions of yen.
(*2) Long-term loans payable within one year are included in the long-term loans.

* The fixed interest rate ratio to the total interest-bearing debt after the New Loan is forecasted to bearound 80%.
5. OtherWith respect to the risks of the New Loan, no important change is required for the “Investment Risks” in theSecurities Report submitted on March 25, 2021 and in the Semiannual Securities Report (Japanese only) submitted
on September 22, 2021
* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en2