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.

March 26, 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 Officer
Inquiries: Hiroto Tajitsu, Head of Administration
Tel: 03-3502-4891

Notice of Partial Repayment of Existing Loan
Ichigo Real Estate Investment Corporation (“Ichigo REIT”) is conducting a partial loan
repayment (227 million yen total) using proceeds from the sale of the Ichigo Sendai Chuo
Building, as announced in the March 20, 2015 release “Sale of Portfolio Asset.”

1. Reason for Repayment
The repayment will reduce interest costs.
2. Repayment Details
SMBC Syndicate Loan II (Term Loan 1)
Lenders

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

Sumitomo Mitsui Banking Corporation; Shinsei
Bank, Limited; Resona Bank, Ltd.; Aozora Bank,Ltd.
3,667 million yen
29 million yen
3,638 million yen
March 26, 2015
1.79372%
Yes – Collateralized
June 3, 2013
May 31, 2018

1

SMBC Syndicate Loan II (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 DateSumitomo Mitsui Banking Corporation; Mizuho
Bank; Shinsei Bank; Aozora Bank, Ltd.
3,975 million yen
32 million yen
3,942 million yen
March 26, 2015
1.46856%
Yes – Collateralized
December 10, 2013
November 30, 2018

SMBC Syndicate Loan II (Term Loan 3)
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
Bank; Aozora Bank, Ltd.; Shinsei Bank,Limited; Resona Bank, Ltd.; The Kagawa Bank,Ltd.; ORIX Bank Corporation
6,491 million yen
52 million yen
6,439 million yen
March 26, 2015
1.07000%
Yes – Collateralized
August 1, 2014
July 31, 2019

SMBC Syndicate Loan II (Term Loan 4)
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
Bank; Aozora Bank, Ltd.; Shinsei Bank,Limited; The Bank of Tokyo-Mitsubishi UFJ,Ltd.; Resona Bank, Ltd.
5,496 million yen
44 million yen
5,452 million yen
March 26, 20151.26750%
Yes – Collateralized
December 10, 2014
December 10, 2020

2

SMBC Syndicate Loan II (Term Loan 5)
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
Bank; Aozora Bank, Ltd.; Shinsei Bank,Limited; The Bank of Tokyo-Mitsubishi UFJ,Ltd.; Resona Bank, Ltd.; The Kagawa Bank,Ltd.; ORIX Bank Corporation
1,499 million yen
12 million yen
1,486 million yen
March 26, 2015
0.83%
Yes – Collateralized
December 15, 2014
March 15, 2018

SMBC Syndicate Loan II (Term Loan 6)
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
Bank; Aozora Bank, Ltd.; Shinsei Bank,Limited; The Bank of Tokyo-Mitsubishi UFJ,Ltd.; Resona Bank, Ltd.
5,496 million yen
44 million yen
5,452 million yen
March 26, 2015
1.03369%
Yes – Collateralized
December 15, 2014
December 16, 2019

SMBC Syndicate Loan II (Term Loan 7)
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
Bank; Aozora Bank, Ltd.; Shinsei Bank,Limited; The Bank of Tokyo-Mitsubishi UFJ,Ltd.; Resona Bank, Ltd.; ORIX BankCorporation
1,499 million yen
12 million yen
1,486 million yen
March 26, 2015
0.83%
Yes – Collateralized
January 9, 2015
June 15, 2018

3. Earnings Outlook
The impact of the repayment on Ichigo REIT’s April 2015 fiscal period earnings forecast is
minimal and therefore the forecast is unchanged.

3Reference: Loan Composition after Repayment
Outstanding Loan Balance (as of March 26, 2015)(million yen)
Before repayment

After repayment

Short-term borrowings

000

Long-term borrowings(due within one year)

11,175

11,1750Long-term borrowings

48,71948,492-227

Total borrowings

59,89559,668-227000

59,89559,668-227

Other interest-bearing liabilities

000

Total interest-bearing liabilities

59,89559,668-227

Investment corporation bonds
Total borrowings and investment
corporation bonds

ChangeLender Distribution (as of March 26, 2015)

ORIX Bank
3%

Bank ofFukuoka 2%

MetLife
3%
BTMU
3%

Kagawa Tokyo Star
Bank
3%
3%

SMBC
22%

Shinsei Trust 1
5%

Prudential LPS
6%

Mizuho Bank
10%

Resona Bank
10%

MizuhoTrust
4%

Shinsei Bank
13%

1

Aozora Bank
14%

Source of funds is Investment LPS managed by AXA Real Estate Investment Managers
Japan KK

4Loan Repayment Date Distribution (as of March 26, 2015)(million yen)
20,00015,00010,000

7,530
6,527
4,992
5,000

4,450

5,867

6,370
5,373

5,386
4,525

4,310

1,765

1,330
0
April 2015

Oct 2015

April 2016

Oct 2016

April 2017

Oct 2017

April 2018

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

5

Oct 2018

April 2019Oct 2019

April 2020

Oct 2020

April 2021