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Japan Metropolitan Fund Acquires Silent Partnership Interests in 17 SEIYU Store Properties

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Japan Metropolitan Fund Investment (TYO:8953) has agreed to acquire silent partnership interests from Unicorn Godo Kaisha for 8.79 billion yen.

Unicorn Godo Kaisha's assets include 17 land leasehold properties currently operated as SEIYU and TRIAL SEIYU stores across Japan, according to a Tokyo bourse filing on Friday.

The REIT's lease agreements for the 17 assets combine fixed rent with revenue-based percentage rent, allowing it to benefit from sales growth and operational improvements.

The acquisition, scheduled to close on Nov. 30, builds on the REIT's existing relationship with Trial (TYO:141A), which made SEIYU a subsidiary in July 2025.

In a separate filing, Trial has agreed to transfer all SEIYU shares to Unicorn Godo Kaisha, in an absorption-type company split and share transfer to monetize part of SEIYU's real estate.

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