March 22, 2012
To whom it may concern:<Investment Corporation>
Japan Real Estate Investment Corporation
Noritada Terasawa, Executive Director(TSE code: 8952)<Asset Management Company>
Japan Real Estate Asset Management Co., Ltd.
Hiroshi Katayama, CEO & President
Contact: Toru Kimura, General Manager, Planning Department
Phone: +81-3-3211-7921

Notice concerning Pre-payment of Loan
Announcement is hereby made that on March 22, 2012, Japan Real Estate Investment Corporation
decided to make the pre-payment of the following existing loans prior to the principal repayment dates:
1. Pre-payment of loan
March 29, 2012(a) Pre-payment date:¥3,600 million(b) Total amount of pre-payment:(c) Details of loans to be pre-paid before the due dates:<The remaining balance after the pre-payment, on February 29, 2012, of short-term loans from
Mitsubishi UFJ Trust and Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho
Corporate Bank, Ltd. and The Sumitomo Trust & Banking Co., Ltd., which were executed as ofNovember 15, 2011>
1) Total amount of loan:¥1,600 million
Lender, amount of loan, amount of pre-payment, balance after the pre-payment of loan, start ofthe loan period and principal repayment date:
Mitsubishi UFJ
The Bank ofMizuho
The SumitomoLender
Trust and Banking Tokyo-Mitsubishi Corporate Bank, Trust & BankingCorporation
UFJ, Ltd.
Ltd.
Co., Ltd.

2)Amount of loan

¥400 million¥400 million¥400 million¥400 million

Amount of pre-payment¥400 million¥400 million¥400 million¥400 million¥0 million¥0 million¥0 million¥0 million

BalanceStart of the loan period

November 15, 2011

Principal repayment dateNovember 15, 2012

3)
4)

Interest rate:
Borrowing method:

5)Interest payment date:

0.33% (From March 15, 2012 to April 15, 2012)
Loan based on overdraft agreements concluded separately withrespective lenders
Unsecured/non-guaranteed loan
15th of every month until the principal repayment date (includingthe principal repayment dates)

6)

Repayment of principal:

Payment in full on the principal repayment dates<Short-term loans dated September 1, 2011 from Mitsubishi UFJ Trust and Banking Corporation and
The Bank of Tokyo-Mitsubishi UFJ, Ltd., and Short-term loan dated August 1, 2011 from Mizuho
Corporate Bank, Ltd. >1) Total amount of loan:¥3,000 millionLender, amount of loan, amount of pre-payment, balance after the pre-payment of loan, start ofthe loan period and principal repayment date:
The Bank ofMitsubishi UFJ Trust andMizuho Corporate
LenderTokyo-Mitsubishi
Banking Corporation
Bank, Ltd.
UFJ, Ltd.

2)Amount of loan

¥500 million¥1,000 million¥1,500 million

Amount of pre-payment¥500 million¥500 million¥500 million¥0 million¥500 million¥1,000 million

BalanceStart of the loan period

September 1, 2011

September 1, 2011

August 1, 2011

Principal repayment date

September 3, 2012

September 3, 2012

August 1, 20123)
4)

Interest rate:
Borrowing method:5)

Interest payment date:

6)

Repayment of principal:

0.38% (From March 1, 2012 to April 1, 2012)
Loan based on overdraft agreements concluded separately withrespective lenders
Unsecured/non-guaranteed loan
1st of every month until the principal repayment date (includingthe principal repayment dates)
Payment in full on the principal repayment dates<Short-term loan dated November 1, 2011 from The Sumitomo Trust & Banking Co., Ltd.>
1) Start of the loan period:
November 1, 2011
2)

Amount of loan:

3)

Amount of pre-payment:

4)
5)

Balance after the pre-payment of loan:
Interest rate:

6)

Borrowing method:

7)

Interest payment date:

8)

Repayment of principal:¥1,500 million¥500 million¥1,000 million
0.33% (from March 1, 2012 to April 1, 2012)
Loan based on overdraft agreement concluded with lender
Unsecured/non-guaranteed loan
1st of every month until the principal repayment date(including the principal repayment dates)
Payment in full on the principal repayment date9) Principal repayment date:November 1, 2012
* There will be a settlement fee of approx. ¥48,288 upon this pre-payment.

2. Funds for pre-payment
Entire amount of the proceeds from the investment unit issuance by third-party allocation to be received
on March 27, 2012 and part of the proceeds from the investment unit issuance (public offering) onFebruary 28, 2012

3. Balance of interest-bearing debts after the pre-payment of the loans (as of March 29, 2012)(Units: millions of yen)
Before pre-payment

After pre-payment

Increase/Decrease

Short-term loans

17,10013,500-3,600Current portion of long-term loans50,100

50,100±0Long-term loans

165,700

165,700±0

Total loans
Current portion of investment
corporation bonds
Investment corporation bonds(except for current portion)
Total investment corporation
bonds
Total interest-bearing debts

232,900

229,300-3,60010,00010,000±045,000

45,000±055,000

55,000±0287,900

284,300-3,6004. Others
Regarding the loan repayment risk, there is no important change to the “Investment risks” description in
the latest securities report submitted on December 26, 2011.

This notice is the English translation of the announcement in Japanese dated March 22, 2012 on ourwebsite. However, no assurance or warranties are given for the completeness or accuracy of this English
translation.