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Nippon Building borrowing ¥13B to fund Tokyo office building buy

Nippon Building Fund Inc. has agreed to borrow ¥13.00 billion of loans to partly fund the ¥9.78 billion acquisition of the Osaki Bright Plaza office building and an additional interest in the Osaki Bright Core property in Tokyo.

Shinkin Central Bank will lend ¥4.00 billion at an interest rate of 0.21930% on March 29, with repayment scheduled for March 29, 2024.

Additionally, the office-focused real estate investment trust will receive ¥9.00 billion of four loans from Sumitomo Mitsui Trust Bank Ltd., Mizuho Bank Ltd., Resona Bank Ltd. and The Yamanashi Chuo Bank Ltd. Each loan will carry an interest rate of 0.07545%, with repayment set for April 27.

As of March 24, US$1 was equivalent to ¥104.95.