September 13, 2021

For Immediate Release

Name of REIT Issuer:

CRE Logistics REIT, Inc.

2-10-1, Toranomon, Minato-ku, Tokyo, Japan

Tsuyoshi Ito, Executive Director

(TSE Code: 3487)

Asset Manager

CRE REIT Advisers, Inc.

Tsuyoshi Ito, President

Person of Contact:

Hirohisa Toda, Head of Corporate Planning

Tel: +81-3-5575-3600

Notice Concerning Borrowing of Funds (Partial Cancellation and Reduction and Final

Determination of Loan Amounts from Lenders)

CRE Logistics REIT, Inc. ("CRE REIT") hereby announces that on September 13, 2021 it made the decision to cancel some of the borrowings (the "Borrowings") announced on September 2, 2021 in the "Notice Concerning Borrowing of Funds (including Green Loan)" and reduce the loan amounts (the "Cancellation and Reduction"). Details are as follows. CRE REIT also announces that some of the loan amounts of the Borrowings from each lender, which were not yet determined, have been fixed.

1. Details of the Cancellation and Reduction

CRE REIT has decided to cancel the new borrowing of the long-term loan payable of 600 million yen from Sumitomo Mitsui Banking Corporation, which is a part of the Borrowings, and reduce the amount of the long- term loan payable of 1,900 million yen from Sumitomo Mitsui Banking Corporation to 1,000 million yen , taking into consideration the final determination of the funds amount to be raised by means of the issuance of new investment units announced on September 2, 2021 in the "Notice Concerning Issuance of New Investment Units (Green Equity Offering)."

2. Details of Final Determination of Breakdown of Loan Amounts by Each Lender

Of the Borrowings announced on September 2, 2021 in the "Notice Concerning Borrowing of Funds

(including Green Loan)," the loan amount from each lender has been fixed for the loan payables of 4,000 million yen and 3,500 million yen.

Disclaimer: This press release is intended to disclose to the public the borrowing of funds (partial cancellation and reduction and final determination of loan amounts from lenders), and is not an offer to sell or a solicitation of any offer to buy the securities of CRE REIT in the United States or elsewhere. Any investment decision should be made based upon your own judgement. This press release does not constitute an offer of securities in the United States of America. The investment units have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The investment units may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The investment units referred to above will not be offered, publicly or otherwise, in the United States

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3. Details of the Borrowings after the Cancellation and Reduction

Catego

ry

payable loans term-Long

Loan

Repay

amount

Interest

Drawdown

Borrowing

Repayment

Lender

ment

Notes

(million

rate

date

method

date

method

yen)

Sumitomo Mitsui Banking

600

Corporation

Mizuho Bank, Ltd.

500

The Shizuoka Bank, Ltd.

450

Development Bank of Japan

350

Inc.

MUFG Bank, Ltd.

350

The Bank of Fukuoka Ltd.

250

Base rate

March 31,

The Hyakujushi Bank, Ltd.

250

+0.475

2027

(Note 1)

The Yamaguchi Bank, Ltd.

250

Sumitomo Mitsui Trust Bank,

200

Limited

Shinsei Bank, Limited

200

Borrowing

Aozora Bank, Ltd.

200

based on

Lump-

individual

The Bank of Toyama, Ltd.

200

sum

Unsecu

loan

September

repaym

red

agreements

The Yamanashi Chuo Bank,

15, 2021

ent at

Unguar

200

concluded

Ltd.

maturit

anteed

on

y

Sumitomo Mitsui Banking

650

September

Corporation

13, 2021

Mizuho Bank, Ltd.

550

Development Bank of Japan

500

Inc.

Shinsei Bank, Limited

400

Base rate

September

Aozora Bank, Ltd.

400

+0.500

30, 2027

(Note 2)

The Yamaguchi Bank, Ltd.

300

Sumitomo Mitsui Trust Bank,

250

Limited

The Yamanashi Chuo Bank,

250

Ltd.

The Hyakujushi Bank, Ltd.

200

Mizuho Bank, Ltd.

1,000

Base rate

September

+0.300

30, 2022

Sumitomo Mitsui Banking

1,000

Base rate

September

Corporation

+0.300

30, 2022

Total

9,500

(Note 1) The interest rate is effectively fixed at 0.546 by concluding an interest rate swap agreement. For details of the interest rate swap agreement, please refer to the "Notice Concerning Conclusion of Interest Rate Swap Agreement" dated September 9, 2021.

(Note 2) The interest rate is effectively fixed at 0.576 by concluding an interest rate swap agreement. For details of the interest rate swap agreement, please refer to the "Notice Concerning Conclusion of Interest Rate Swap Agreement" dated September 9, 2021.

Disclaimer: This press release is intended to disclose to the public the borrowing of funds (partial cancellation and reduction and final determination of loan amounts from lenders), and is not an offer to sell or a solicitation of any offer to buy the securities of CRE REIT in the United States or elsewhere. Any investment decision should be made based upon your own judgement. This press release does not constitute an offer of securities in the United States of America. The investment units have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The investment units may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The investment units referred to above will not be offered, publicly or otherwise, in the United States

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4. Status of Loans, etc. after the Borrowings

(Million yen)

Before the Borrowings

After the Borrowings

Increase or decrease

Short-term loans payable

Long-term loans payable (Note)

50,369

59,869

9,500

Total loans

50,369

59,869

9,500

Investment corporation bonds

2,000

2,000

Total interest-bearing debt

52,369

61,869

9,500

(Note) Long-term loans payable include the current portion of loans that will be due within one year from today.

5. Future Outlook

The impact of this matter is immaterial, and there is no change in the results forecasts for the fiscal period

ending December 31, 2021 and the fiscal period ending June 30, 2022 announced on September 2, 2021 in the "Notice Concerning Revision of Forecasts of Operating Results for the Period ending December 31, 2021 and the Period ending June 30, 2022."

6. Other Matters Necessary for Investors to Understand and Assess This Information Properly

With respect to risks related to the Borrowings, no significant changes have been made to details described

in "Part 2. Reference information, 2. Reference material: Supplement information, (3) Investment risk" of the

securities registration statement on September 2, 2021 and "Part 1: Information on the Fund, 1. Situation of the Fund, (3) Investment risk" of the securities report on March 30, 2021.

* CRE Logistic REIT, Inc. website: https://cre-reit.co.jp/en/

Disclaimer: This press release is intended to disclose to the public the borrowing of funds (partial cancellation and reduction and final determination of loan amounts from lenders), and is not an offer to sell or a solicitation of any offer to buy the securities of CRE REIT in the United States or elsewhere. Any investment decision should be made based upon your own judgement. This press release does not constitute an offer of securities in the United States of America. The investment units have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The investment units may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The investment units referred to above will not be offered, publicly or otherwise, in the United States

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CRE Logistics REIT Inc. published this content on 13 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2021 06:01:01 UTC.