Hulic Reit, Inc. (TSE:3295) signed a sale and purchase agreement to acquire Granda Gakugeidaigaku from Hulic Co., Ltd. (TSE:3003) for ¥2.2 billion on March 29, 2022. The transaction will be funded by borrowings and cash on hand. Hulic Reit, Inc. raised an unsecured borrowing of ¥2.2 billion to fund the acquisition. The acquisition decision date is March 29, 2022. The transaction is expected to complete on March 31, 2022. The impact of the acquisition will be immaterial to the outlook concerning the financial results of Hulic Reit, Inc. for the fiscal period ending August 31, 2022.

Hulic Reit, Inc. (TSE:3295) completed the acquisition of Granda Gakugeidaigaku from Hulic Co., Ltd. (TSE:3003) on March 31, 2022.