FIRST REAL ESTATE INVESTMENT TRUST First REIT Management Limited, as manager (the "Manager") of First Real Estate Investment Trust ("First REIT" or the "Trust"), announced that First REIT Japan 2 Godo Kaisha ("FRJ2 GK") has secured a JPY1.66 billion approximately SGD 16.9 million) non-recourse social loan (the "Shinsei Social Loan") from Shinsei Bank, Limited ("Shinsei Bank"). The full proceeds from this Shinsei Social Loan partially funded the approximately JPY2.6 billion(approximately SGD 26.3 million) acquisitions by FRJ2 GK of the trust beneficial interest ("TBI") in each of Loyal Residence Ayase ("Ayase") and Medical Rehabilitation Home Bon Séjour Komaki ("Komaki") (collectively, the "Acquisitions"). The remaining financing of the Acquisitions was funded by SGD debt.
The acquisition of the TBI in Komaki was completed on 27 September 2022 and the acquisition of the TBI in Ayase was completed.
