Sekisui House SI Residential Investment Corp. plans to issue 83,240 new investment units through a public offering for its planned acquisition of trust beneficiary interests in two residential properties in Tokyo for an aggregate of ¥8.50 billion.
The company will buy Sekisui House Ltd.'s Prime Maison SHIROKANE-TAKANAWA in Minato-ku and Prime Maison ICHIGAYAYAMABUSHICHO in Shinjuku-ku for ¥4.50 billion and ¥4.00 billion, respectively. Sekisui House SI expects to acquire the properties Nov. 1.
Sekisui House SI said that it anticipates to price the issuance Oct. 19, at the earliest. An overallotment of up to 4,160 units is also available under the offering, as well as a third-party allotment of another 4,160 units. The company plans to use the proceeds from the issuance to fund the acquisition of the two properties.
Mizuho Securities Co. Ltd. and SMBC Nikko Securities Inc. are the joint lead managers and underwriters of the offering. Other underwriters are Mitsubishi UFJ Morgan Stanley Securities Co. Ltd., Nomura Securities Co. Ltd. and Daiwa Securities Co. Ltd.
As of Oct. 7, US$1 was equivalent to ¥103.17.