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Notice Concerning Acquisition of Investment Assets (COMFORIA UENOIRIYA, and Other 3 Assets)

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Notice Concerning Acquisition of Investment Assets (COMFORIA UENOIRIYA, and Other 3 Assets) January 5, 2018 For Immediate Release Real Estate Investment Trust Securities Issuer: Comforia Residential REIT, Inc 1-1 Minami-Aoyama 1-chome, Minato-ku, Tokyo Takehiro Izawa Executive Director (Code: 3282) Asset Management Company: TLC REIT Management Inc. Hiroyuki Tohmata President & CEO Inquiries: Kentaro Yoshikawa General Manager of Strategy Department Comforia Management Division (TEL: +81-3-5770-5710) Notice Concerning Acquisition of Investment Assets (COMFORIA UENOIRIYA, and other 3 assets) Comforia Residential REIT, Inc (“Investment Corporation”) announces that TLC REIT Management Inc., to which the Investment Corporation entrusts management of its assets (“Asset Management Company”) decided today for the Investment Corporation to acquire the investment assets (COMFORIA UENOIRIYA, and other 3 assets) as shown below. In addition, the acquisition of investment assets is approved by the Investment Corporation’s Board of Directors in accordance with the Act on Investment Trusts and Investment Corporations (Act No.198 of 1951. Including subsequent revisions) (“Act on Investment Trusts and Investment Corporations”) and the bylaws of the Asset Management Company concerning transaction with interested parties. 1．Summary of Acquisitions Acquisition Price No Type of Asset Property Name (thousand yen) (Note) Beneficial Interest in 1 COMFORIA UENOIRIYA 2,173,000 Real Estate Trust Beneficial Interest in 2 COMFORIA IKEJIRI 1,313,000 Real Estate Trust Beneficial Interest in 3 COMFORIA SETAGAYAKAMIUMA 2,622,000 Real Estate Trust Beneficial Interest in 4 COMFORIA KITAHAMA 1,719,000 Real Estate Trust Total 7,827,000 (Note) “Acquisition Price” denotes the amount exclusive of the various expenses required in the acquisition of the concerned asset, etc. (brokerage commission, taxes and public dues, etc.) (the amount of real estate or beneficial interest in real estate trust specified in the Agreement on Purchase and Sale). (1) Date of Agreement January 5, 2018 (2) Date of Acquisition February 2, 2018 (3) Seller Refer to “5. Summary of the Seller” <Disclaimer> This document is a press release to make a public announcement of acquisition of investment assets, and has not been prepared as a solicitation for investment. The Investment Corporation cautions investors to ensure that they refer to the prospectus for notification of the issuance of new investment units and secondary offering of investment units as well as amendments thereto prepared by Investment Corporation (if such have been prepared) before undertaking investments and that investments be made at their own discretion and responsibility. 1 (4) Financing for Acquisition The properties will be bought using proceeds from the issuance of new investment units outlined in the press release “Notice Concerning Issuance of New Investment Units and Secondary Offering of Investment Units” separately announced today, the borrowings (Note), and own funds. (5) Method of Payment Full payment at the time of delivery (Note) The Investment Corporation will announce concerning the borrowings after its decision. 2. Reason for Acquisition The Asset Management Company decided to acquire the investment assets based on the Investment Corporation’s asset management policy ensuring stable earnings and steady growth of the portfolio. On deciding to acquire the investment assets, the Asset Management Company evaluated the features of the properties, etc. of the assets stated in “3. Summary of the Assets to be Acquired.” 3. Summary of the Assets to be Acquired (1) COMFORIA UENOIRIYA Property Name COMFORIA UENOIRIYA Type of Specified Asset Beneficial Interest in Real Estate Trust Trustee of Beneficial Trust (planned) Mitsubishi UFJ Trust and Banking Corporation Expiration Date of Beneficial Trust Contract February 2, 2033 (planned) Location (Residential address) (Note 1) 2-6-8 Ryusen, Taito-ku, Tokyo Area (Note 1) 415.96 m2 Land Type of Ownership Ownership Completion Date (Note 1) January, 2016 Structure / Number of Floors RC / B1F/14F (Note 1) 2 Building Gross Floor Area (Note 1) 3,527.42m Type of Ownership Ownership Use (Note 1) Apartment building Rentable Units (Note 5) 88 Units Property Management Company (Note 2) Tokyu Housing Lease Corporation (planned) Master Leasing Company (Note 3) Tokyu Housing Lease Corporation (planned) Master Leasing Type (planned) Pass-through type Appraisal Company DAIWA REAL ESTATE APPRAISAL CO., LTD Appraisal Value 2,220,000 thousand yen (Appraisal Date: October 31, 2017) Collateral None A portion of this land (approx. 75.64 sq. meters) is located in the district of a city planning road (Radial Road No.12 with a planned width of 40 meters). No project has been assigned, and the project Special affairs (Note 4) schedule, size of expropriation area, and other details have yet to be determined. However, once a project is assigned, the existing building may become nonconforming as result of land expropriation. The property is a rental residence principally comprising single-type rooms and also some compact-type rooms located at a 6-minute walk from Iriya Station on the Tokyo Metro Hibiya Line. With approximately a 5-minute train ride to Akihabara Station and Features of the Property approximately a 2-minute train ride to Ueno Station, it has good access to major business and commercial zones. It is in the Iriya area where the atmosphere of the traditional Tokyo district remains, and since convenience stores, restaurants, etc. are located along Showa-dori which the property faces, it offers favorable living convenience. Given <Disclaimer> This document is a press release to make a public announcement of acquisition of investment assets, and has not been prepared as a solicitation for investment. The Investment Corporation cautions investors to ensure that they refer to the prospectus for notification of the issuance of new investment units and secondary offering of investment units as well as amendments thereto prepared by Investment Corporation (if such have been prepared) before undertaking investments and that investments be made at their own discretion and responsibility. 2 these features, solid rental demand focused mainly on singles and DINKS families who place an emphasis on proximity to the city- center and a convenient residential environment is expected. Summary of Rental Status (as of October 31, 2017) (Note 5) Rentable Area 2,790.92m2 Rented Area 2,646.99 m2 Occupancy Rate 94.8% Rentable Units 88 Units Rented Units 83 Units Total Number of Tenants 1 Total Monthly Rent 10,084 thousand yen Deposits, guarantees 11,865 thousand yen Summary of the Engineering Report (Note 6) Reporting Company HI International Consultant Co., Ltd. Report Date October, 2017 Estimated Amount － of Emergency Repair Expenses Estimated Amount 680 thousand yen of Short-Term Repair Expenses Estimated Amount 35,560 thousand yen of Long-Term Repair Expenses Replacement Value 848,600 thousand yen Summary of the Earthquake Risk Analysis (Note 7) PML Reporting Company Sompo Risk Management & Health Care Inc. Report Date October, 2017 PML 9.51% Architect/Contractor/Building Permit Agency, etc. (Note 8) Architect Kanoh architect office.Co,Ltd. Contractor Fukuda Corporation Building Permit Agency J Architecture Inspection Center Investment Agency or Structural Away Building Evaluation Network Inc. Calculation Fitness Judge, etc. (2) COMFORIA IKEJIRI Property Name COMFORIA IKEJIRI Type of Specified Asset Beneficial Interest in Real Estate Trust Trustee of Beneficial Trust (planned) Mitsubishi UFJ Trust and Banking Corporation Expiration Date of Beneficial Trust Contract February 2, 2033 (planned) Location (Residential address) (Note 1) 2-31-18 Ikejiri, Setagaya-ku, Tokyo Area (Note 1) 338.22 m2 Land Type of Ownership Ownership Completion Date (Note 1) March, 2008 Structure / Number of Floors RC / 9F (Note 1) 2 Building Gross Floor Area (Note 1) 1,700.50 m Type of Ownership Ownership Use (Note 1) Retail facilities / Apartment building Rentable Units (Note 5) (Note 9) 36 Units <Disclaimer> This document is a press release to make a public announcement of acquisition of investment assets, and has not been prepared as a solicitation for investment. The Investment Corporation cautions investors to ensure that they refer to the prospectus for notification of the issuance of new investment units and secondary offering of investment units as well as amendments thereto prepared by Investment Corporation (if such have been prepared) before undertaking investments and that investments be made at their own discretion and responsibility. 3 Property Management Company (Note 2) Tokyu Housing Lease Corporation (planned) Master Leasing Company (Note 3) Tokyu Housing Lease Corporation (planned) Master Leasing Type (planned) Pass-through type Appraisal Company Japan Real Estate Institute Appraisal Value 1,400,000 thousand yen (Appraisal Date: October 31, 2017) Collateral None Special affairs (Note 4) None The property is a rental residence principally comprising compact- type rooms and also some single-type rooms located at a 2-minute walk from Ikejiri-ohashi Station on the Tokyu Den-en-toshi Line. With approximately a 2-minute train ride to Shibuya Station and approximately a 5-minute train ride to Omote-sando Station, it has good access to major business and commercial zones. It is adjacent to Features of the Property areas such as Sangen-jaya and Naka-Meguro which are popular among young people, and there are plenty of convenient facilities such as restaurants for young people and supermarkets around Ikejiri- ohashi
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