Creating peace of mind through honest and committed management.

[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

May 30, 2013
REIT Issuer
Ichigo Real Estate Investment Corporation (8975)
1-1-1, Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
Asset Management Company
Ichigo Real Estate Investment Advisors Co., Ltd.
Representative: Wataru Orii, President & Representative Statutory Executive Officer
Inquiries: Minoru Ishihara, Executive Vice President & Statutory Executive Officer
Tel: 03-3502-4891

New Borrowing
Ichigo Real Estate Investment Corporation (“Ichigo REIT”) has decided to borrow funds.
1. Reason for borrowing
Ichigo REIT is acquiring assets through a public offering as announced in the May 9, 2013
releases “Issuance of New Investment Units and Secondary Offering of Investment Units” and“Acquisition of Portfolio Assets (Ichigo Akihabara North Building, Ichigo Sakaisuji Honmachi
Building, and Konami Sports Club Izumi Fuchu).” Ichigo REIT will acquire these three assets
using the funds from the public offering, loans from megabanks, and cash on hand.
This borrowing will strengthen Ichigo REIT’s lender base and lower its LTV.
2. Loan Details
SMBC Syndicate Loan II (5 year maturity)
Lenders

Loan Amount
Use of Proceeds
Loan Date
Principal Repayment Date
Principal Repayment Terms

Partial Principal Repayment Date
Interest Rate
Interest Payment Date

Collateralized

Sumitomo Mitsui Banking Corporation; Shinsei
Bank, Limited; Resona Bank, Limited.; Aozora
Bank, Ltd.
3,700 million yen
Acquisition of specified assets and related costs
June 3, 2013
May 31, 2018
4,625,000 yen of the principal will be repaid on
each Partial Principal Repayment Date; theremainder will be repaid in full on the Principal
Repayment Date.
Same as the Interest Payment Date
1.79372% (fixed)
Final business day of January, April, July, andOctober following the Loan Date (the firstpayment date will be July 2013 and the last
payment date will be the same as the Principal
Repayment Date)
Yes1

3. Future Outlook
There is no amendment to Ichigo REIT’s earnings and dividend forecast announced in“Revision of Earnings and Dividend Forecast for the April 2013 Fiscal Period and Earnings andDividend Forecast for the October 2013 Fiscal Period” on May 9, 2013.
4. OtherRisks related to this borrowing have no material impact on the “Investment Risks” described in
the latest Securities Report (submitted May 9, 2013).

2

Reference: Loan Structure after New Borrowing■ Outstanding Loan Balance (as of June 3, 2013)(million yen)
Balance
12,500GE Japan Corporation
Sumitomo Mitsui Banking Corporation

10,154

Aozora Bank, Ltd.

5,748

Resona Bank, Limited

5,645

Shinsei Bank, Limited

5,586

Prudential Mortgage Asset Holdings 1 Japan LPS

3,982

Mizuho Trust & Banking Co., Ltd.

3,865

Shinsei Trust & Banking Co., Ltd. *1

3,166

The Tokyo Star Bank, Limited

2,992

MetLife Alico

1,982

The Kagawa Bank, Ltd.

1,386

Shinsei Trust & Banking Co., Ltd. *2

1,100

Mizuho Bank, Ltd.

997

ORIX Bank Corporation

994

Total
60,101*1: Source of fund is Investment LPS managed by AXA Real Estate Investment Managers
Japan KK
*2: Cash funding is provided by Ichigo Group Holdings Co., Ltd.

■ Distribution of Repayment Dates (As of June 3, 2013)(million yen)30,000

20,00014,93010,49810,000

8,449
6,825

6,685
5,366
3,607

2,0000Oct 2013 Apr 2014 Oct 2014 Apr 2015 Oct 2015 Apr 2016 Oct 2016 Apr 2017 Oct 2017 Apr 2018 Oct 2018

Website of Ichigo REIT: www.ichigo-reit.co.jp/english3