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Hulic Reit to buy 4 Tokyo properties for ¥13B

Hulic Reit Inc. agreed to purchase four commercial properties in Tokyo for ¥13.46 billion.

The company struck a deal with Hulic Co. Ltd. to buy the Hulic Shibuya 1-chome and Hulic Higashi Nihonbashi offices, and the Hulic Omori retail property. The remaining property, the Dai-36 Arai, meanwhile, will be acquired from Arai & Co. Ltd.

The anticipated date of acquisition for the three Hulic properties is March 31, while purchase of the Arai building is expected to close April 28.

The J-REIT will fund the acquisitions through borrowings and cash on hand. According to a separate filing, it secured a ¥12.0 billion loan from Mizuho Bank Ltd. The unsecured and unguaranteed loan has a base rate of interest plus 0.23% and will be repaid Oct. 31.

As of March 30, US$1 was equivalent to ¥111.28.