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One REIT to splash ¥15.85B on 3 properties in Japan

One REIT Inc. is poised to acquire three Japanese real estate assets for a total of ¥15.85 billion.

The assets include the Daihakata building in Fukuoka-shi, Fukuoka, to be acquired from GK SIA Bridge No. 2; and the Daido Life Omiya building in Saitama-shi, Saitama, and the Yamagami building in Toshima-ku, Tokyo, to be acquired from IBJ Leasing Co. Ltd. The properties have purchase prices of ¥10.65 billion, ¥3.00 billion and ¥2.20 billion, respectively, according to a release.

In a separate release, the real estate investment trust said it secured two loans of ¥6 billion each and one loan of ¥4 billion, from a syndicate of lenders arranged by Mizuho Trust & Banking Co. Ltd. and Mizuho Bank Ltd., to fund the Oct. 25 transaction.

The loans will carry a base interest of the Japanese Bankers Association's one-month Tokyo Interbank Offered Rate, with the ¥4.00 billion loan bearing an additional rate of 0.40% and a repayment date of Sept. 7, 2020. The two ¥6.00 billion loans will carry additional rates of 0.45% and 0.50%, with repayment dates of Sept. 7, 2021, and Sept. 7, 2022, respectively.

As of Oct. 10, US$1 was equivalent to ¥112.02.

This article was updated at 06:55 p.m. Hong Kong time on Nov. 24 to include further information from a company release.