Heiwa Real Estate REIT has closed commitment line agreements worth a combined ¥6.0 billion.
Sumitomo Mitsui Banking Corp., The Bank of Tokyo-Mitsubishi UFJ Ltd. and Mizuho Bank Ltd. will provide ¥2.5 billion, ¥2.0 billion and ¥1.5 billion of uncollateralized and unguaranteed loans, respectively.
The company will use the funds to acquire new properties and repay loans, according to a release.
The contract period for the loans will run from June 1, 2017, to May 31, 2018.
As of May 25, US$1 was equivalent to ¥111.87.