NEWS RELEASE
April 5, 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:
April 7, 2023
(II) Overview of loan to be repaid before the due date:(1)
Amount of loan to be prepaid
JPY 23,200 million(2)
Amount of loan
JPY 29,000 million(3)
Amount of loan outstanding
JPY 5,800 million
after the prepayment(4)
Lender
MUFG Bank, Ltd.
(5)Interest rate
0.10273% (from March 27, 2023 through April 6, 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.
2. Funds for Prepayment
The above loan will be prepaid with a fresh long‐term loan of JPY 5 billion described below and a part ofthe proceeds from the public offering of new investment units as resolved at JRE’s Board of Directors’
meeting held on March 28, 2023, which will be JPY 18.2 billion.

13. Debt Financing(I) Reason for the borrowing
To repay before the due date JPY 5 billion out of the above prepayment amount of JPY 23.2 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 5,000 million
Sumitomo Mitsui Banking Corporation
0.75%(fixed)
April 7, 2023
Loan agreement dated April 5, 2023
Unsecured/unguaranteed loan
The principal repayment date and the 7th of every April andOctober 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
April 7, 2033

(Note2) 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
Long‐term loans payable(Variable interest rate)
Long‐term loans payable(Fixed interest rate)
Total loans
Investment corporation bonds
Total
investment corporation bonds
Total interest‐bearing debt

After

Increase/Decrease

44,00020,800‐23,200

22,00022,000±0343,200

348,200+5,000409,200

391,000‐18,200

42,99342,993±042,993

42,993±0452,193

433,993‐18,200

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 April 5, 2023.
No assurance or warranties are given for the completeness or accuracy of this English translation.

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