Translation of Japanese Original

July 28, 2020

To All Concerned Parties

REIT Issuer:

Kenedix Residential Next Investment Corporation

Representative: Keisuke Sato, Executive Director

(Securities Code Number: 3278)

Asset Management Company

Kenedix Real Estate Fund Management, Inc.

Representative: Masahiko Tajima, President & CEO

Contact: Shin Yamamoto, Head of Planning Division,

Residential REIT Department

TEL:+81-3-5157-6011

Notice Concerning Execution of Commitment Line Agreement

Kenedix Residential Next Investment Corporation (the "Investment Corporation") has announced today that the

Investment Corporation decided to execute a commitment line agreement as follows.

1. Purpose of Commitment Line Agreement

The Investment Corporation decided to conclude commitment line agreements to secure flexibility and stability in financing method, for potential needs of funds.

The existing 1,500 million yen commitment line with Sumitomo Mitsui Banking Corporation will be renewed after expiring on July 31, 2020. Besides the commitment line, the existing 1,500 million yen commitment line with MUFG Bank, Ltd. and Mizuho Bank, Ltd will be extended respectively.

2. Outline of Commitment Line Agreement (After this commitment line agreement and extension of period)

Limit of

Contract date

Counterparty

maximum amount

Contract period

Collateral

(Scheduled)

(million yen)

Sumitomo Mitsui Banking

1,500

July 29, 2020

August 1, 2020 to

Corporation

July 31, 2021

Unsecured,

MUFG Bank, Ltd

1,500

July 29, 2019

August 1, 2019 to

unguaranteed

Mizuho Bank, Ltd

1,500

July 31, 2021

3. Other

In relation to the risks associated with the borrowings, there have been no significant changes to the "Investment Risks" stated in the securities report (Yuka shoken hokokusyo) submitted on April 28, 2020.

* Website URL of the Investment Corporation: https://www.kdr-reit.com/en/

[Provisional Translation Only]

English translation of the original Japanese document is provided solely for information purposes.

Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

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Kenedix Residential Next Investment Corporation published this content on 28 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2020 06:35:01 UTC