Hankyu Hanshin REIT, Inc. (TSE:8977) agreed to acquire H-CUBE MINAMIAOYAMA from Hankyu Hanshin Properties Corp. for ¥6.6 billion on October 18, 2021. In a related transaction Hankyu Hanshin REIT, Inc. agreed to sell Sphere Tower Tennozu for ¥8.6 billion on October 18, 2021. Proceeds from funds procured from the transfer of Sphere Tower Tennozu will be used to finance the acquisition. The acquisition has been deliberated and approved by the investment management committee, the compliance committee and the Board of Directors Meeting of the Asset Management Company. Transaction is expected closed on December 14, 2021. DAIWA REAL ESTATE APPRAISAL CO., LTD acted as appraiser.