Creating peace of mind through honest and committed management.

[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

May 8, 2015
REIT Issuer
Ichigo Real Estate Investment Corporation (8975)
1-1-1, Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
Asset Management Company
Ichigo Real Estate Investment Advisors Co., Ltd.
Representative: Wataru Orii, President & Representative Statutory Executive OfficerInquiries: Hiroto Tajitsu, Head of Administration
Tel: 03-3502-4891

Notice of Partial Repayment of Existing Loans
Ichigo Real Estate Investment Corporation (“Ichigo REIT”) is conducting a partial loan
repayment using proceeds from the sale of the Falcon Shinsaibashi Building, as announced inthe April 9, 2015 release “Asset Acquisitions and Sale.”

1. Reason for Partial Repayment
The repayment will be conducted to reduce interest costs, as proceeds were gained from thesale.
2. Repayment Details
SMBC, Mizuho Trust Syndicate Loan I (Term Loan 2)
Lenders

Outstanding Balance before Repayment
Repayment Amount
Outstanding Balance after Repayment
Date of Partial Repayment
Borrowing Rate
Collateral
Date of Borrowing
Repayment Due Date

Sumitomo Mitsui Banking Corporation; Mizuho
Trust & Banking Co., Ltd.; Aozora Bank, Ltd.;
Shinsei Bank, Limited; Resona Bank, Limited.
1,814 million yen
613 million yen
1,200 million yen
May 8, 2015
1.91575%
Yes – Collateralized
May 9, 2012
April 30, 2017

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SMBC Syndicate Loan I (Term Loan 3)
Lenders

Outstanding Balance before Repayment
Repayment Amount
Outstanding Balance after Repayment
Date of Partial Repayment
Floating Interest Rate
Collateral
Date of Borrowing
Repayment Due Date

Sumitomo Mitsui Banking Corporation; MizuhoBank, Ltd.; Mizuho Trust & Banking Co., Ltd.;
Resona Bank, Limited; Aozora Bank, Ltd.; TheTokyo Star Bank, Limited; ORIX Bank
4,467 million yen
402 million yen
4,064 million yen
May 8, 2015
3M JPY TIBOR + 1.00%
Yes – Collateralized
January 31, 2013
October 31, 2015

SMBC Syndicate Loan I (Term Loan 4)
Lenders

Outstanding Balance before Repayment
Repayment Amount
Outstanding Balance after Repayment
Date of Partial Repayment
Borrowing RateCollateral
Date of Borrowing
Repayment Due Date

Sumitomo Mitsui Banking Corporation; Mizuho
Trust & Banking Co., Ltd.; Resona Bank,Limited; The Tokyo Star Bank, Limited
4,467 million yen
402 million yen
4,064 million yen
May 8, 2015
1.64777%
Yes – Collateralized
January 31, 2013
October 31, 2017

3. Earnings Outlook
There is no amendment to Ichigo REIT’s earnings and dividend forecast as announced in“Earnings and Dividend Forecast Revisions for the April 2015 and October 2015 Fiscal Periods”
on April 9, 2015.

2Reference: Loan Composition after Partial Repayment
Outstanding Loan Balance (as of May 8, 2015)(million yen)
Before repayment

After repayment

Short-term borrowings

000

Long-term borrowings(due within one year)

6,070

5,667

-403

Long-term borrowings

76,01074,994-1,016

Total borrowings

82,08080,661-1,419000

82,08080,661-1,419Other interest-bearing liabilities

000

Total interest-bearing liabilities

82,08080,661-1,419Investment corporation bonds
Total borrowings and investment
corporation bonds

Lender Distribution (as of May 8, 2015)

Bank of Fukuoka
3%

Kagawa Bank
2%

Tokyo Star2%ORIXBank
3%

BTMU
10%

SMBC
24%

Resona Bank
11%
Mizuho Bank
15%
Aozora Bank
12%
Shinsei Bank
14%

3Mizuho
Trust
3%

ChangeLoan Repayment Date Distribution (as of May 8, 2015)(million yen)
20,00015,00010,000

9,574

8,938
6,527
5,867

5,000

4,047

9,139

9,129

8,359
6,370
5,373

3,907

1,330

1,152

0April 2015 Oct 2015 April 2016 Oct 2016 April 2017 Oct 2017 April 2018 Oct 2018 April 2019 Oct 2019 April 2020 Oct 2020 April 2021 Oct 2021 April 2022

Website of Ichigo REIT: www.ichigo-reit.co.jp/english

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