Daiwa House REIT Investment Corporation (TSE:8984) agreed to acquire Trust Beneficiary Interests in DPL Shin-Narashino from Daiwa House Industry Co.,Ltd. (TSE:1925) for ¥5.9 billion on March 26, 2021. The payment will be settled in the entire amount upon transfer. The transaction will be funded from the cash reserves of Daiwa House REIT Investment Corporation.

On March 26, 2021, the transaction was approved by the Board of Daiwa House REIT Investment Corporation. The sale and purchase agreement is scheduled to be executed on March 29, 2021. The transaction is expected to close by April 1, 2021.

The impact of the acquisition will be minimal. Japan Real Estate Institute acted as appraiser in the deal.