Tosei Reit Investment Corporation (TSE:3451) announced a private placement of 4,000 units at a price of ¥104,900 for gross proceeds of ¥419,600,000 on June 15, 2020. The transaction will include participation from returning investor Tosei Corporation (TSE:8923). The transaction is expected to close on June 25, 2020.

Post closing of the transaction, the number of units held by the investor in the company will increase from 27,051 units representing 8.04% of the total number of issued investment units to 31,051 units representing 9.12% of the total number of issued investment units. The transaction has been approved by the board of directors of the investor. The transaction included a miscellaneous expenses of ¥14,100,000.