Mori Hills REIT Investment : MHR Announces Information on Borrowings

November 24, 2021

For Translation Purposes Only

Real Estate Investment Fund Issuer:

Mori Hills REIT Investment Corporation

(Securities Code: 3234)

1-12-32 Akasaka, Minato-ku, Tokyo

Hideyuki Isobe, Executive Director

Asset Manager:

Mori Building Investment Management Co., Ltd.

Hideyuki Isobe, President & CEO

Inquiries: Akira Nemoto

General Manager of Financial Department

TEL: [phone]

MHR Announces Information on Borrowings

Mori Hills REIT Investment Corporation (hereinafter "MHR") concluded today the following borrowings.

1. Purpose of Borrowings

To be used as a portion of the refinancing of 6,500 million yen in long-term loans payable due November 30, 2021 (hereinafter "Existing Long-term Loans Payable") (Note).

(Note) Please refer to the press releases "MHR Announces Information on Borrowings" dated November 20, 2014 for details.

2. Details of Borrowings

Lender	Borrowing	Interest	Scheduled	Repayment	Method of
amount	rate	drawdown	date	Collateral
(anticipated)	repayment
(million yen)	(Note 1)	date	(Note 2)
Sumitomo		Base
Mitsui Trust	1,040	interest		November
Bank,	rate		30, 2026
Limited		+0.180%
		Base
MUFG Bank,	1,100	interest		November	To be
Ltd.	rate		30, 2029	repaid in
		+0.300%	November		full on the	Unsecured/
Sumitomo		Base	30, 2021	November	principal	Unguaranteed
Mitsui	1,560	interest		repayment
Banking	rate		30, 2029	date
Corporation		+0.300%
		Base
Mizuho Bank,	1,300	interest		November
Ltd.	rate		30, 2030
		+0.250%

(Note 1) The first payment date shall be the last day of February 2022 and subsequent payment dates shall be the last day of February, May, August, and November every year thereafter. The last payment date shall be the principal repayment date. If the date is not a business day, the next business day shall be the date and if this next business day falls into the following month, the business day prior shall be the payment date.

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Base interest rate to be applied will be the 3-month JBA Japanese Yen TIBOR announced by the Japanese Bankers Association two business days prior to the last payment day (The first payment date shall be the drawdown date). The 3-month JBA Japanese Yen TIBOR can be confirmed on the website of General Incorporated Association JBA TIBOR Administration (https://www.jbatibor.or.jp/english/).

(Note 2) If the repayment date is not a business day, the next business day shall be the repayment date. If this next business day falls into the following month, the business day prior shall be the repayment date.

3. Amount of Funds, Use of Funds and Scheduled Payment Period

1. Amount of funds to be procured: 5,000 million yen
2. Specific use of funds and scheduled payment period

		a) Specific use of funds:	To be disbursed as funds for refinancing of the
				Existing Long-term Loans Payable (Of the 1,500
				million yen of difference, 1,486 million yen is
				scheduled to be disbursed from the investment
				corporation bond described in "MHR Announces
				Issuance of Investment Corporation Bond (Green
				Bond)" announced on November 12, 2021, and 14
		b) Amount:	million yen from cash on hand.)
		5,000 million yen
		c) Scheduled payment period:	November 30, 2021
4. Borrowings, etc. after the Borrowings			(Unit: millions of yen)
				Before		After		Change
				the Borrowings		the Borrowings
		Long-term loans payable		173,622	172,122		△1,500
		Investment corporation bonds		18,800	20,300	1,500
		Total interest-bearing debt		192,422		192,422		0

(Note 1) Long-term loans payable and investment corporation bonds include the current portion of long-term loans payable and investment corporation bonds within a year.

(Note 2) Amount of borrowings shows a balance of November 30, 2021 after this transaction.(After the repayment of the Existing Long-term Loans Payable as mentioned in Section 3. (2)).

5. Other Items Required for Investors to Appropriately Understand/Judge the Concerned Information

There are no changes to the content of "1. Fund Information; 1. Fund Status; 3. Investment Risks" indicated in the Semiannual Securities Report (Japanese) for the thirtieth fiscal period submitted on October 27, 2021 as a result of the Borrowings.

MHR's website address is https://www.mori-hills-reit.co.jp/en/

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