Notice regarding acquisition of domestic real estate trust beneficiary rights and anonymous association interests, and transfer of domestic real estate trust beneficiary rights (13th asset swap)

Overview of this matter

This investment trust decided to acquire three planned assets (real estate, etc.) through an asset management company and two anonymous association interests. The assets include the planned acquisition price of KOKO HOTEL Osaka-Shinsekai at 3,926 million yen, two anonymous association interests, and the planned disposal of Washington R&B Hotel Umeda East at 3,010 million yen. The document also notes a policy to allocate a portion of disposal gains to internal reserves.

Outlook and impact on capital policy

Through asset swaps, the company aims to promote internal growth and improve distribution, while prioritizing asset scale and capital efficiency. Assuming use of the swap exemption and internal funds, an increase in net operating income after depreciation (NOI) is anticipated, but careful management is required considering long-term interest rates and market conditions.