Heiwa Real Estate REIT (TYO:8966) has arranged to borrow a total of 5.17 billion yen from three major banks to partly fund three residential property acquisitions, according to its Tokyo bourse filing on Thursday.
The term loans, with drawdowns scheduled for Dec. 23, consist of separate facilities from Resona Bank(1.7 billion yen), MUFG Bank (2 billion yen), and Mizuho Bank (1.47 billion yen), all unsecured and unguaranteed.
The proceeds will partially finance the purchase of three properties: HF SHIMO-AKATSUKA RESIDENCE, HF TOKIWADAI RESIDENCE, and HF AYASE RESIDENCE.
The loans carry variable interest rates tied to the one-month Japanese Yen TIBOR, with maturity dates extending to 2033 and 2034.
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