NEWS RELEASE

Japan Real Estate Investment CorporationFebruary 26, 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.
Hiroshi Katayama, CEO & President
Contact: Ryuta Yoshida,
Executive Officer, General Manager, Planning Department
Phone: +81-3-3211-7951

Notice concerning New Loan
Japan Real Estate Investment Corporation hereby announces its decision on February 26, 2016,
to procure funds as follows:

1. Reason for drawing down of loan
To allocate a part of the funds for repayment of the existing short-term loan of ¥3,500 million executedon March 2, 2015.

2. Details of the loan
(1) Start of loan period:
March 2, 2016
(2) Amount of loan:¥1,500 million (Note 1)(3) Lender, amount of loan, and principal repayment date:LenderAmount of loan

The Bank of Tokyo-Mitsubishi UFJ, Ltd.
(4) Interest rate:(5) Borrowing method:(6) Interest payment date:(7) Repayment of principal:(Note1)¥1,500 million

Principal repayment date(pre-payment possible)
March 2, 2017

Base rate (1-month JPY TIBOR by “JBA” (Japanese BankersAssociation ) )+ 0.04% (Note 2)
Loan based on overdraft agreement concluded with lender
Unsecured/unguaranteed loan
2nd of every month until the principal repayment date (Note 3)
Payment in full on the principal repayment date(pre-payment possible)¥2,000 million out of the total repayment amount for the existing short-term loan of ¥3,500 million on thescheduled repayment date will be paid by own funds.

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(Note2) ･ Base rate to calculate the interest to pay on an interest payment day is 1-month JPY TIBOR released by
JBA two business days before the interest payment date. (1-month JPY TIBOR by JBA on February 26,
2016 is 0.07455%)･ Please refer to JBA TIBOR administration’s website (http://www.jbatibor.or.jp/english/rate/) for more
information regarding Japanese Yen TIBOR of JBA.
(Note3)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 debt after the new loan
(Units: millions of yen)
Before new loan
(Note 4)
Short-term loans
Current portion of long-termloans
Long-term loans(except for current portion)
Total loans
Current portion of investment
corporation bonds
Investment corporation bonds(except for current portion)
Total investment corporation
bonds
Total interest-bearing debts

After new loan

Increase/Decrease

30,20028,200－2,00038,10038,100±0282,650

282,650±0350,950

348,950－2,00000±020,000

20,000±020,00020,000±0370,950

368,950－2,000(Note4) The balance after the execution of the pre-payment of the loans announced in the release “Notice concerning
pre-payment of loans”issued today.

4. Others
Regarding loan repayment related risks, there is no important change to the “Investment risks”
description in the latest securities report submitted on December 24, 2015.

This notice is the English translation of the announcement in Japanese dated February 26, 2016.
However, no assurance or warranties are given for the completeness or accuracy of this English translation.

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