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Heiwa Real Estate REIT lands commitment line deals worth ¥6B

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.