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Heiwa Real Estate REIT to Raise 550 Million Yen via Third-Party Allotment

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Heiwa Real Estate REIT (TYO:8966) said it will raise 549.8 million yen through a third-party allotment of 4,300 investment units to its lead underwriter at 127,853 yen apiece, according to a Tokyo bourse filing on June 19.

The Japan-based real estate investment trust said that the subscriptions of the new units, approved by the board, will be completed on Monday with payments scheduled for Tuesday.

The proceeds will be used in part to repay borrowings announced in May, with any remaining funds to be retained as cash and used for current and future property acquisitions.

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