NEWS RELEASE

Japan Real Estate Investment CorporationOctober 27, 2016
To whom it may concern:<Investment Corporation>
Japan Real Estate Investment Corporation
Hiroshi Nakajima, Executive Director(TSE code: 8952)<Asset Management Company>
Japan Real Estate Asset Management Co., Ltd.
Naoki Umeda, President & CEO
Contact: Ryuta Yoshida,
Executive officer, General Manager, Planning Department
Phone: +81-3-3211-7951

Notice concerning Pre-payment of Loan and New Loan
Announcement is hereby made that on October 27, 2016, Japan Real Estate Investment Corporation
decided to make the pre-payment of the existing loan prior to the principal repayment date and toprocure funds as follows:

1. Pre-payment of loan
① Pre-payment date:
October 31, 2016
② Details of loan to be pre-paid before the due date:(1) Amount of loan:¥3,000 million(2) Lender:
Mitsubishi UFJ Trust and Banking Corporation(3) Interest rate:
0.07% (From October 4, 2016 to November 3, 2016)(4) Start of loan period:
April 4, 2016(5) Borrowing method:
Loan based on overdraft agreement concluded with the lender
Unsecured/unguaranteed loan(6) Interest payment date:
4th of every month until principal repayment date(7) Repayment of principal:
Payment in full on principal repayment date
(8) Principal repayment date: April 4, 2017
There will be ¥6,904 of settlement amount upon pre-payment.
2. New Loan
① Reason for drawing down of loan
To allocate the funds for pre-payment of the above mentioned short-term loan of JPY 3,000 million.
② Details of the loan
(1) Amount of loan:¥3,000 million(2) Lender:
Mitsubishi UFJ Trust and Banking Corporation(3) Interest rate:
0. 24%(4) Start of loan period:
October 31, 20161(5) Borrowing method:(6) Interest payment date:(7) Repayment of principal:(8) Principal repayment date:

Loan agreement concluded on October 27, 2016
Unsecured/unguaranteed loan
End of April and October of every year until the principal
repayment date (Note)
Payment in full on principal repayment date
October 30, 2026
(pre-payment possible)(Note) In the event that the interest payment date does not fall on a business day, the interest shall be paid on thefollowing business day. If the following business day, however, falls in the following month, the payment
shall be made on the preceding business day of the interest payment date.

3. Balance of interest-bearing debts after the pre-payment of the loan and the new loan
(Units: millions of yen)
Before new loan/
After new loan/
Increase/Decreasepre-payment
pre-payment
Short-term loans
Current portion of
long-term loans
Long-term loans
Total loans
Current portion of
investment corporation bonds
Investment corporation bonds(except for current portion)
Total
investment corporation bonds
Total interest-bearing debts

45,70042,700-3,00042,85042,850±0247,800250,800+3,000336,350

336,350±000±020,000

20,000±020,000

20,000±0356,350

356,350±04. Others
Regarding loan repayment related risks, there is no important change to the “Investment risks”
description in the latest securities report submitted on June 24, 2016.

This notice is the English translation of the announcement in Japanese dated October 27, 2016.
However, no assurance or warranties are given for the completeness or accuracy of this Englishtranslation.

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