Tosei Asset Advisors, Inc. and Tosei Reit Investment Corporation entered into an agreement to acquire four real estate properties from Tosei Corporation for ¥2.9 billion.

Tosei Asset Advisors, Inc. and Tosei Reit Investment Corporation (TSE:3451) entered into an agreement to acquire four real estate properties from Tosei Corporation (TSE:8923) for ¥2.9 billion on November 25, 2020. The terms of the transaction and properties are as follows, T's garden Center Minami will be acquired for ¥1.14 billion, Boulevard Maioka will be acquired for ¥810 million, T's garden Koiwa will be acquired for ¥490 million and T's garden Tsuzuki Fureai no Oka II will be acquired for ¥480 million. The acquisition will be funded through debt resolved at Tosei Reit Investment board meeting and cash on hand.

In accordance with the law concerning Investment trusts and Investment corporations and the asset management company's related party transaction rules, the approval of the Tosei Reit Investment board of directors has been obtained on November 25, 2020. The transaction is expected to be completed by December 17, 2020.