One REIT, Inc. concluded a purchase and sale contract to acquire Daido Life Omiya building and Yamagami building from IBJ Leasing Company, Limited for ¥5.2 billion.

One REIT, Inc. (TSE:3290) concluded a purchase and sale contract to acquire Daido Life Omiya building and Yamagami building from IBJ Leasing Company, Limited (TSE:8425) for ¥5.2 billion on October 11, 2017. Daido Life Omiya Building will be acquired for ¥3 billion while Yamagami building will be acquired for ¥2.2 billion. The consideration will be paid in full on transfer.

In related deal, One REIT, Inc. agreed to acquire Daihakata Building from GK SIA Bridge No. 2 LLC. One REIT, Inc procured funds of ¥16 billion from Mizuho Trust & Banking Co., Ltd. and Mizuho Bank, Ltd. This funds are used in financing the transaction.

The consideration will be funded from loans and funds on hand. The deal is expected to close on October 25, 2017.