Japan Metropolitan Fund Investment Corporation announced that KJR Management, JMF's asset manager, JMF's asset manager determined to acquire the trust beneficiary right in real estate in Japan. Property name, JMF-Residence Shin-Yokohama, JMF-Residence Akabane Shimo, Location, Shi-Yokohama, Kohoku-ku, Yokohama-shi, Kanagawa, Shimo, Kita-ku, Tokyo, Asset class, Residence, Type of asset, Trust beneficiary right in real estate, Trust beneficiary right in real real estate, Acquisition price (Scheduled), 3,190 million, 2,200 million, Appraisal value, 3,370 million, 2,430 million, Contract completion date, March 31, 2023 (Scheduled), March 30, 2023, Acquisition date (Scheduled), April 27, 2023, Seller, Not disclosed (Note 4), KT CAPITAL CORPORATION, Broker, Applicable, Acquisition funds, Cash on hand (Planned). Property name is JMF's management name.

The facility is currently referred to as TK PLAZAII. Agreement has been reached with the seller that the JMF- Residence Akabane Shimo will be established a trust with the property as trust assets by the time of the acquisition and JMF will acquire the trust beneficiary right of the trust. Not disclosed as the seller has not agreed to the disclosure.

There are no capital, personal or business relationships to note between JMF/the Asset Manager and the seller. Highlights. Asset replacement strategy proceeding with acquisition of two excellent rental residential properties (5.39 billion) located in the city center, which is convenient for transportation and everyday life.

As there have been constant changes to the operating environment surrounding real estate, such as widespread e-commerce and remote working due to the rapid advancement in information technologies, and the trend of mixed-use by area and by property, JMF aims to optimize its portfolio in response to such changes. To this end, JMF will continue to secure stable earnings on a medium to long term basis and ensure steady growth of operating assets by promoting carefully-screened investment in retail facilities, office buildings, residences, hotels, and mixed-use properties used for a combination of those purposes, located mainly in urban areas. All the two residential properties that were acquired are excellent rental residences located in the city center, which is convenient for transportation and everyday life.

While the conditions in the real estate trading market remain harsh, the acquisition of these excellent residences with an NOI yield in excess of 4% will contribute to the progress of asset replacement and an improvement in the portfolio quality.