August 24, 2016
To All Parties Concerned
REIT Securities Issuer
3-8-11 Kudan Minami, Chiyoda-ku, Tokyo
Sakura Sogo REIT Investment Corporation
Representative: Makoto Muranaka,
Executive Director:(Securities Code 3473)
Asset Management Company:
Sakura Real Estate Funds Management, Inc.
Representative: Makoto Muranaka,
Representative Director andPresident
Inquiries:
Mayumi Kobiki,
Chief Financial Officer
Tel:+81-3-6272-6608

Notice of Temporary Conditions Determined in accordance with the Issue of New
Investment Units through Secondary Offering
Sakura Sogo REIT (hereinafter the “Investment Corporation”) announces that it determined theprovisional conditions for the issue price with regard to issuance of new investment units through public
offering concerning the issuance of new investment units and secondary offering of investment units
resolved at its Board of Directors meeting held on August 5, 2016, as described below.
Provisional conditions for the issue price: 91,000 yen or more but not exceeding 92,000 yen per unit
<Reference>
1. Number of investment units to be offered through primary and secondary offerings(1) Number of investment units to 332,000 units
be offered through primaryoffering:(2) Number of investment units to 10,400 units (over-allotment)
be offered through secondaryoffering:
Furthermore, the number of investment units to be offered
above is the maximum number of investment units to be offeredthrough over-allotment to be conducted by SMBC Nikko
Securities Inc., separately from the primary offering after taking
into account the status of demand and other factors of theprimary offering. There may be cases where this number isreduced or the secondary offering through over-allotment itself
may not take place at all, depending on the demand status forprimary offering and other factors. The number of investment
Disclaimer: This press release is for public announcement in regards to issuance of new investment units and secondary offering of investment unitsof Investment Corporation, and has not been prepared for the purpose of solicitation of investment. Investors shall always refer to theprospectus for issuance of new investment units and (for notification of) secondary offering of investment units, and amendments
thereto, prepared by the Investment Corporation, and undertake any investment in their own decision.
Furthermore, this press release does not constitute an offer of securities in the United States. The investment units have not beenregistered under the United States Securities Act of 1933. The securities may not be offered or sold in the United States absent
registration or an exemption from registration under the United States Securities Act of 1933. In case securities are to be publicly offeredin the United States, prospectus written in English prepared based on the United States Securities Act of 1933 shall be used. In such acase, investors will be able to obtain the English prospectus from the Investment Corporation or the selling agency, and detailed
information on the Investment Corporation and its executive team as well as the financial statements will be provided in the English
prospectus. The securities referred to in this press release will not be publicly offered or sold in the United States.

12.
3.

Period of filing for demand(book building period):
Decision Date of Issue Price,etc.:
Subscription period:

units to be offered shall be determined at the Board of Directors
meeting of the Investment Corporation to be held on thedecision date of issue price, taking into account the status ofdemand and other factors of the primary offering.
From August 25, 2016 (Thursday) to August 30, 2016(Tuesday)
August 31, 2016 (Wednesday)

From September 1, 2016 (Thursday) to September 6, 2016(Tuesday)
5. Payment date:
September 7, 2016 (Wednesday)
6. Delivery date:
September 8, 2016 (Thursday)
7. Reason for determining theDetermined by comprehensively considering information
regarding assets planned to be acquired by the Investment
provisional conditions:
Corporation and on other matters regarding the Investment
Corporation, opinions of institutional investors who arepresumed to be highly capable of calculating the price ofinvestment units of the Investment Corporation and otherfactors, within the ranged judged to be at a fair value.
8. Each of the aforementioned items shall be subject to the filing taking affect in accordance withthe Financial Instruments and Exchange Act of Japan.
For further details, please refer to “Notice concerning the issue of new investment units throughsecondary offering” announced on August 5, 2016.
This material is to be distributed to the Kabuto Club, the Ministry of Land, Infrastructure, Transport
and Tourism Press Club, and the Ministry of Land, Infrastructure, Transport and Tourism Press Clubfor Construction Purposes.
4.

Disclaimer: This press release is for public announcement in regards to issuance of new investment units and secondary offering of investment unitsof Investment Corporation, and has not been prepared for the purpose of solicitation of investment. Investors shall always refer to theprospectus for issuance of new investment units and (for notification of) secondary offering of investment units, and amendments
thereto, prepared by the Investment Corporation, and undertake any investment in their own decision.
Furthermore, this press release does not constitute an offer of securities in the United States. The investment units have not beenregistered under the United States Securities Act of 1933. The securities may not be offered or sold in the United States absent
registration or an exemption from registration under the United States Securities Act of 1933. In case securities are to be publicly offeredin the United States, prospectus written in English prepared based on the United States Securities Act of 1933 shall be used. In such acase, investors will be able to obtain the English prospectus from the Investment Corporation or the selling agency, and detailed
information on the Investment Corporation and its executive team as well as the financial statements will be provided in the English
prospectus. The securities referred to in this press release will not be publicly offered or sold in the United States.

2