Mitsubishi Estate : Notice Concerning Partial Transfer of Property (PDF 93KB)

	March 5, 2020
To whom it may concern:
Company name:	Mitsubishi Estate Co., Ltd.
Representative:	Junichi Yoshida,
	President and Chief Executive Officer
Securities code:	8802
Contact:	Motohiro Sato,
	General Manager of the
	Corporate Communications Department
Telephone:	[phone]

Notice Concerning Partial Transfer of Property

Mitsubishi Estate Co., Ltd. (hereafter the "Company") hereby announces today the partial transfer of property. Brief details are as follows.

1. Reason for Transfer

In accordance with its property portfolio strategy in the Long-Term Management Plan, the Company endeavors to improve ROA and also recover its investments, channeling the funds into future business opportunities.

2. Outline of Transfer

Asset Type: 33.1% of quasi co-ownership of trust beneficiary right of real estate (land), 49.9% of co-ownership of unit ownership right (office spaces from 9F to 20F, store and district cooling/heating facility spaces)

Asset Name: Otemachi Park Building

Location: 1-1-1 Otemachi, Chiyoda-ku, Tokyo

Land Area: 9,338.74 ㎡ (Registry book records)

Building Structure: Steel-reinforced concrete, 5B/29F Total Floor Area:146, 611.42 ㎡ (Registry book records) Date Completed: January 2017

Book Value: About ¥ 93.9 billion

Transfer Value: About ¥ 99.8 billion

3. Outline of Transferee 【Transferee No.1】

Company Name: Tokyo MN1 TMK

Headquarters: 3-1-1 Marunouchi, Chiyoda-ku, Tokyo

Representative: Keisuke Ando, Director

【Transferee No.2】

Company Name: Japan Real Estate Investment Corporation Co., Ltd.

Headquarters: 1-1-1 Otemachi, Chiyoda-ku, Tokyo

Representative: Yutaka Yanagisawa, Executive director

【Transferee No.3】

Company Name: Nippon Open Ended Real Estate Investment Corporation

Headquarters: 1-6-5 Marunouchi, Chiyoda-ku, Tokyo

Representative: Takuya Yokota, Executive director

4. Planned Transfer Schedule

March 5, 2020: Transfer agreement execution

March 24, 2020: Settlement and handover

5. Other

Currently there is no change in the estimated net income of ¥ 137 billion for FY 2020 announced on May 14, 2019.

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