September 28, 2021
FOR IMMEDIATE RELEASE
Activia Properties Inc.
21-1 Dogenzaka 1-chome, Shibuya-ku, Tokyo
Nobuhide Kashiwagi
Executive Director(Code: 3279)
Asset Management Company
TLC REIT Management Inc.
Masaoki Kanematsu
President & CEOInquiries
Kazuyuki Murayama
General Manager of Strategy Department
Activia Management Division(Tel: +81-3-6455-3377)

Notice Concerning Change of Property Management Companyand Appointment of Master Lease Company (EDGE Shinsaibashi)
Activia Properties Inc. (“API”) announces that TLC REIT Management Inc. (“TRM”), to which API
entrusts its asset management operations, decided today to change the property management company (the“PM Company”) and appoint the master lease company (the “ML Company”) for EDGE Shinsaibashi.
Details are as follows.
1. Overview of the change of PM Company and the appointment of ML Company
API will change the PM Company and appoint the ML Company of EDGE Shinsaibashi, one of theproperties held as below as of October 1, 2022.
Property
numberAA-13

BeforeProperty nameEDGE Shinsaibashi

PMCompany

Nomura Real Estate Partners
Co.,Ltd.

MLCompany-After

Tokyu Community Corp.

2. Reasons of the change of PM Company and the appointment of ML CompanyPursuant to the investment guidelines of TRM, API entrusts the property management operations of theoffice buildings held principally to Tokyu Community Corp., and the number of properties of which API
entrusts property management operations to the company as of September 27, 2021 reaches to 22.
In accordance with the guidelines and in consideration of the company’s property management andleasing capabilities, API examined the validity of entrustment of property management operations andmaster lease operations to the company, and decided to change of PM Company and appoint the ML
Company to the company, expecting the enhancement of quality levels of operations.

13. Profile of the PM Company and ML Company
NameAddress
Management
Amount of Capital
Established
Business Description
Relationships with API and TRM
Capital relationship
Personnel relationship
Business relationship

Related party or not

Tokyu Community Corp.
10-1, Yoga 4-chome, Setagaya-ku, Tokyo
Katsuhide Saiga
1,653 million yen (as of March 31, 2021)
April 8, 1970
1. Condominium management
2. Building management
3. Reform
Wholly-owned subsidiary of Tokyu Fudosan Holdings Corporation,
the 100% parent of Tokyu Land Corporation, the 100% parent ofTRMTokyu Community Corp. has seconded certain personnel to TRM.
The trustee has contracted building maintenance agreement, leaseagreement and property management agreement with Tokyu Community
Corp. on the buildings with the trust beneficiary interest held by API.
Tokyu Community Corp. is not a related party of API, but is an interested
party of TRM. Also, Tokyu Community Corp. is an interested party
under Act on Investment Trusts and Investment Corporations (hereinafterreferred to as the “ITA”).

4. Transaction with related parties
Tokyu Community Corp. is a wholly owned subsidiary of Tokyu Fudosan Holdings Corporation which isthe parent company of Tokyu Land Corporation, the parent company of TRM. Tokyu Community Corp. is
an interested party as provided in Article 201 on ITA, Article 123 of the Enforcement Ordinance of ITA,
and the regulations concerning transactions with interested parties in the internal regulations of TRM.
Therefore, as provided in the regulations concerning transactions with interested parties, TRM carried out
the appropriate procedures to change the PM Company and appoint the ML Company.
5. Outlook
The impact on the management performance of API for the fiscal period ending November 2021 (the 20thfiscal period, from June 1, 2021 to November 30, 2021) and for the fiscal period ending May 2022 (the 21st
period from December 1, 2021 to May 31, 2022) is not material.
*Website of API: https://www.activia-reit.co.jp/en/2