Japan Metropolitan Fund Investment Corporation agreed to acquire an unknown minority stake in Nisshin Private Residential Reit, Inc. from Mizuho Securities Co., Ltd.

Japan Metropolitan Fund Investment Corporation (TSE:8953) agreed to acquire an unknown minority stake in Nisshin Private Residential Reit, Inc. from Mizuho Securities Co., Ltd. on December 25, 2023. Pursuant to the transaction, Japan Metropolitan will acquire 470 investment units in Capital Increase and 560 additional units from Mizuho Securities. Aggregate, the acquisition price (scheduled) to be paid by Japan Metropolitan will be ¥1.263 billion.

The transaction will be funded from Cash on hand. Following the acquisitions, Japan Metropolitan Fund will own 25.2% in Nisshin Private Residential. Nisshin Private Residential has net assets of ¥21.255 million, total assets of ¥40.424 million and net income of ¥575 million as of June 30, 2023.

The transaction is expected to be completed by January 5, 2024.