Nippon Building Fund Incorporation (TSE:8951) agreed to acquire an additional 2.5% stake in Iidabashi Grand Bloom from Mitsui Fudosan Co., Ltd. (TSE:8801) for ¥36.2 billion on January 6, 2022. In related transactions, Nippon Building Fund agreed to acquire Nakanoshima Mitsui Building from Mitsui Fudosan for ¥44 billion and Domestic Corporation agreed to acquire Toyo-cho Center Bldg, NBF Niigata Telecom Bldg. and NBF Hiroshima Tatemachi Bldg.

from Nippon Building Fund for ¥17.02 billion on January 6, 2022. Following completion, Nippon Building Fund will hold 7.9% in Iidabashi Grand Bloom. The consideration will be financed by funds procured through the issue of new investment units, loans and cash on hand.

The transaction will be partially funded by Long-term Borrowing of ¥5 billion. The transaction is expected to complete on March 31, 2022. On May 31, 2022, Deal term has revised to ¥36.1 billion.