Tosei Reit Investment Corporation (TSE:3451) entered into an agreement to acquire 12 Properties of Tosei Corporation (TSE:8923) for ¥11.9 billion on October 10, 2019. The 12 properties include Honatsugi Tosei Building, Century Urawa, T's garden Nagayama, T's garden Hitotsubashigakuen, Grandeur Fujimino, T's garden WarabiII, T's garden WarabiIII, T's garden Kashiwa, Sun-ing Kitamatsudo, T's garden Tanashi, Kannai waizu Building and T's garden Kitakashiwa for ¥880 million, ¥980 million, ¥850 million, ¥760 million, ¥822 million, ¥750 million, ¥655 million, ¥595 million, ¥482 million, ¥310 million, ¥2.05 billion and ¥2.77 billion respectively. Entire consideration will be paid on delivery. The deal will be financed by proceeds from the issuance of new investment units for which resolution was passed at the meeting of the board of directors of Tosei Reit held on October 10, 2019 and funds on hand. The transaction is conditional on completion of the necessary decision-making procedures by Tosei Reit Investment Corporation and completion of the necessary funds procurement before the transfer date. The decision on acquisition of the properties was subject to approval of Tosei Reit's Board of Directors. Honatsugi Tosei Building, Century Urawa, T's garden Nagayama, T's garden Hitotsubashigakuen, Grandeur Fujimino, T's garden WarabiII, T's garden WarabiIII, T's garden Kashiwa, Sun-ing Kitamatsudo and T's garden Tanashi will be transferred on November 5, 2019 and Kannai waizu Building and T's garden Kitakashiwa will be transferred on December 2, 2019.

Tosei Reit Investment Corporation completed the acquisition of 10 properties on November 5, 2019. The properties include Honatsugi Tosei Building, Century Urawa, T's garden Nagayama, Grandeur Fujimino, T's garden Hitotsubashigakuen, T's garden WarabiII, T's garden WarabiII, T's garden Kashiwa, Sun-ing Kitamatsudo and T's garden Tanashi.