Comforia Residential REIT, Inc (TSE:3282) agreed to acquire Leone Narimasu from J-REX Corporation Co., Ltd for ¥1.6 billion on June 17, 2020. The consideration will be paid in full at the time of delivery. In a related transaction, Comforia Residential REIT, Inc agreed to acquire R's Ikebukuro from Tokyu Housing Lease Corporation for ¥1.9 billion on June 17, 2020.

Comforia Residential plans to change name of Leone Narimasu to Comforia Narimasu. The transaction is funded through the borrowings of funds. The transaction was approved by the Board of Directors of Comforia Residential REIT.

The agreement will be signed for the transaction is on June 18, 2020. The completion of the transaction is expected on June 26, 2020. Daiwa Real Estate Appraisal Co., Ltd. acted as appraiser for Leone Narimasu.