CRE Logistics REIT : Notice Concerning Change in Rating

June 2, 2022

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, Executive Officer, Head of

Corporate Planning and General Affairs

Tel: [phone]

Notice Concerning Change in Rating

CRE Logistics REIT, Inc. ("CRE REIT") hereby announces that Japan Credit Rating Agency,

Ltd. ("JCR") publicly announced today that it changed the rating for CRE REIT as follows.

	Rating company		Object of rating		Before		After
			Long-term		Ａ		Ａ+
	JCR		Issuer Rating
			（Stable）		（Stable）
			（Rating Outlook）

For further details, please visit the JCR website.

JCR website: https://www.jcr.co.jp/en/

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

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