Hulic Reit, Inc. completed the acquisition of Hulic Asakusabashi and Hulic Ebisu buildings in Tokyo from Hulic Co., Ltd..
December 19, 2019
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Hulic Reit, Inc. (TSE:3295) entered into an agreement to acquire Hulic Asakusabashi and Hulic Ebisu buildings in Tokyo from Hulic Co., Ltd. (TSE:3003) for ¥6 billion on December 18, 2019. Hulic Reit, Inc. will acquire Hulic Asakusabashi building for ¥4.8 billion and Hulic Ebisu building for ¥1.3 billion. The transaction will be funded from borrowings and cash on hand. A total of ¥6.025 billion will be raised through new borrowings for the purpose of allocation to a part of acquisition funds and related expenses. The payment and closing of the transaction is expected to complete on December 20, 2019. The acquisition of the property will not have a material impact on the outlook for the financial results for Hulic Reit, Inc.'s fiscal period ending February 29, 2020 (September 1, 2019 to February 29, 2020) and the fiscal period ending August 31, 2020 (March 1, 2020 to August 31, 2020). CBRE K.K and The Tanizawa Sogo Appraisal Co., Ltd. acted as appraiser in the deal.
Hulic Reit, Inc. (TSE:3295) completed the acquisition of Hulic Asakusabashi and Hulic Ebisu buildings in Tokyo from Hulic Co., Ltd. (TSE:3003) on December 20, 2020.
Hulic Reit Inc is a Japan-based diversified real estate investment trust (REIT). The Trust aims to maximize unitholder value by maintaining and improving earnings over the medium to long term and by achieving growth in the size and value of assets under management. The basic investment policy is to position Tokyo Commercial Properties as a priority investment target, investing about 80% of its portfolio. The investment targets are office and retail properties. In addition, the Trust also invest about 20% of its portfolio in Next Generation Asset Plus, which investment targets include fee-based nursing homes, network centers, and hotels. The asset management company is Hulic Reit Management Co Ltd.
HULIC REIT, INC. 
