NEWS RELEASE
May 1, 2023
For Immediate Release

Investment Corporation
Japan Real Estate Investment Corporation
Jo Kato, Executive Director(TSE code: 8952)
Asset Management Company
Japan Real Estate Asset Management Co., Ltd.
Shojiro Kojima , President & CEO
Contact: Masaru Motooka
Executive Officer & General Manager
Strategic Planning Department
Phone: +81‐3‐3211‐7951

Announcement of Loan Prepayment and Debt Financing
Japan Real Estate Investment Corporation (“JRE”) hereby announces its decision today to repay part ofan existing short‐term loan before the due date and procure funds as follows:

1. Prepayment of Short‐Term Loan(I) Prepayment date:
May 8, 2023
(II) Overview of loan to be repaid before the due date:(1)
Amount of loan to be prepaid
JPY 2,300 million(2)
Amount of loan
JPY 5,800 million (Note)(3)
Amount of loan outstanding
JPY 3,500 million
after the prepayment(4)
Lender
MUFG Bank, Ltd.
(5)Interest rate
0.10273% (from April 7, 2023 through May 7, 2023)(6)
Borrowing date
March 27, 2023
(7)
Method of borrowing
Loan based on overdraft agreement
Unsecured/unguaranteed loan
(8)Interest payment dateThe principal repayment date and the 7th of every month in
the period until the principal repayment date
(9)
Method of principal repayment Lump‐sum repayment on the principal repayment date(10) Principal repayment date
March 7, 2024
(11) Disclosure date
March 23, 2023
*There will be no early repayment fee due to this loan prepayment.
(Note) The number stated in the “(2) Amount of loan” refers to the loan amount outstanding after the loan prepayment asdescribed in the press release titled “Announcement of Loan Prepayment and Debt Financing” dated April 5, 2023.

12. Funds for Prepayment
The above loan will be prepaid with a fresh long‐term loan of JPY 1 billion described below, cash on hand,and a part of the proceeds from the issuance of new investment units through the third‐party allotment
as resolved at JRE’s Board of Directors’ meetings held on March 28, 2023 and April 3, 2023.
3. Debt Financing(I) Reason for the borrowing
To repay before the due date JPY 1 billion out of the above prepayment amount of JPY 2.3 billion(II) Overview of the borrowing(1) Amount of loan
(2) Lender(3) Interest rate(4) Borrowing date(5)

Method of borrowing(6)

Interest payment date

JPY 1,000 million
The Kiyo Bank, Ltd.
0.66625%(fixed)
May 8, 2023
Loan agreement dated May 1, 2023
Unsecured/unguaranteed loan
The principal repayment date and the 8th of every May andNovember in the period until the principal repayment date
(Note)(7)(8)

Method of principal repayment
Principal repayment dateLump‐sum repayment on the principal repayment date
May 9, 2033

(Note) When an interest payment date is not a business day, the interest shall be paid on the following business day or
the immediately preceding business day if the following business day is in the following month.

4. Balance of interest‐bearing debt after the debt financing(Units: millions of JPY)
BeforeShort‐term loans payable

After

Increase/Decrease

20,80018,500‐2,30022,00022,000±0348,200

349,200+1,000Total loans

391,000

389,700‐1,300Investment corporation bonds

42,99342,993±0

Total
investment corporation bonds

42,99342,993±0Total interest‐bearing debt

433,993432,693‐1,300Long‐term loans payable(Variable interest rate)
Long‐term loans payable(Fixed interest rate)

5. Others
Regarding risks pertaining to this loan repayment, there is no material change to the descriptionsof “Investment risks” in the securities registration statement submitted on March 28, 2023.

This is the English translation of the announcement in Japanese dated May 1, 2023.
No assurance or warranties are given for the completeness or accuracy of this English translation.

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