TYO:3296

2 stories mentioning TYO:3296Updated just now

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Nippon REIT Investment Fixes Interest Rates on 1 Billion Yen Loan, Enters Swap Deal

Nippon REIT Investment (TYO:3296)has set the interest rate on a 1 billion yen fixed-rate loan from Sumitomo Mitsui Trust Bank at 2.9364%, due July 2030, according to a Tokyo bourse filing on Tuesday.In a separate disclosure, the REIT concluded interest rate swap agreements with Nomura Securities and Mizuho Bank on notional amounts of 1.3 billion yen and 2.3 billion yen, respectively.The swaps start Aug. 20, 2026, fixing underlying loan costs at 2.2420% (Nomura, due Nov. 2028) and 2.4889% (Mizuho, due Nov. 2029).Both transactions are part of the REIT's broader refinancing strategy disclosed on July 28, covering loans tied to its existing property portfolio.

TYO:3296

Asia82d ago

Nippon REIT Investment to Sell Tsukiji Front Office Building for 1.25 Billion Yen

Nippon REIT Investment (TYO:3296) has decided to transfer its trust beneficiary interest in Tsukiji Front, an office building in Chuo-ku, Tokyo, for a scheduled transfer price of 1.25 billion yen, effective July 31, according to a Tokyo bourse filing on Thursday.The decision to sell the property, which is over 30 years old and has an appraisal value of 1.11 billion yen as of December 2025, was driven by expectations of rising capital expenditure needs and limited growth potential due to its relatively small standard floor area.The REIT determined that terminating management of the property at this time and realising unrealised gains would contribute to the maximisation of unitholder value.The company plans to use the gain on sale as a source of funds for distributions, reducing the previously assumed reversal of reserve for the reduction entry of 369 million yen while maintaining the forecasted distribution per unit at 2,250 yen for the fiscal period ending Dec. 31, 2026.

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