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Japan Retail Fund completes ¥6.35B land purchase in Japan

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Japan Retail Fund completes ¥6.35B land purchase in Japan

Japan Retail Fund Investment Corp. closed the acquisition of the trust beneficiary interest in Valor Kachigawa land, including its leasehold interest in Kasugai, Japan, for ¥6.35 billion.

The company used an approximately ¥6.50 billion loan in February, part of a larger ¥20 billion borrowing agreement, to fund the purchase of the 20,509.10-square-meter land in Aichi prefecture, the deal for which was signed in September 2016.

As of Oct. 5, US$1 was equivalent to ¥112.64.