For Translation Purposes Only November 20, 2014 For Immediate Release United Urban Investment Corporation Hitoshi Murakami Executive Officer (Securities Code: 8960) Asset Management Company: Japan REIT Advisors Co., Ltd. Ikuo Yoshida President and CEO Inquiries: Kenichi Natsume Chief Financial Officer TEL: +81-3-5402-3680 Notice Concerning Acquisition of Properties (MT Ariake Center Building I&II and 2 Other Properties) United Urban Investment Corporation (“United Urban”) hereby announces that Japan REIT Advisors Co., Ltd. (“JRA”), the asset management company to which United Urban entrusts asset management services, has decided today to acquire properties as set forth below. 1. Acquisition of the Properties United Urban will acquire the following trust beneficial interests in real estate (referred to as individually or collectively, the “Asset to be Acquired” or “Assets to be Acquired”). Estimated Scheduled Type of Estimated Post- Scheduled Property Acquisition Use Property Name Location NOI Yield Depreciation Acquisition Number Price (Note 3) Yield Date (Note 1) (Note 2) (Note 4) MT Ariake Center Building Koto-ku, ¥8,000 Nov. 25, E6 Warehouse 5.2% 4.5% I&II Tokyo million 2014 LIFE Nishikujo (Site) Osaka, ¥1,760 March 2, A34 - 5.0% 5.0% (Note 5) Osaka million 2015 LIFE Tamatsukuri (Site) Osaka, ¥1,880 March 2, A35 - 5.2% 5.2% (Note 5) Osaka million 2015 ¥11,640 5.2% 4.7% Total/Average — million (Note 6) (Note 6) (Notes) 1. Of the types of use indicated on the real estate register, the primary types are shown. 2. The prices are shown in the amount excluding acquisition costs, property taxes, city planning taxes and consumption taxes and other costs. 3. “Estimated NOI Yield” indicates the value arrived at when the result of dividing the “Estimated NOI (yearly)” by the scheduled acquisition price is expressed as a percentage and rounded to first decimal place. “NOI (Net Operating Income)” means the figure equal to income from property leasing (rental revenues - rental expenses) plus depreciation and amortization. “Estimated NOI (yearly)” means an estimated figure for 1 year from the acquisition by United Urban, which is calculated based on the terms and conditions of leasing after the acquisition by United Urban. 4. “Estimated Post-Depreciation Yield” indicates the value arrived at when the result of dividing (i) an amount deducting “Estimated Depreciation and Amortization” from “Estimated NOI (yearly)” by (ii) the scheduled acquisition price is expressed as a percentage and rounded to first decimal place. “Estimated Depreciation and Amortization” means the estimated figure of the depreciation and amortization for 1 year after the acquisition by United Urban, which is calculated under the straight-line method by applying the depreciation ratio to be derived for each depreciable asset of the Properties to be Acquired in accordance with the useful life thereof, based on the accounting policy of United Urban. 5. The asset held in trust of the Asset to be Acquired is a land (site). Buildings and structures situated on the land (site) are not included in the asset held in trust. This press release has been prepared for the purpose of announcing to the public certain matters relating to borrowings and has not been prepared for the purpose of solicitation for investment. United Urban asks that investors make investment decisions only after they have made sure to refer to the prospectus for the issue of new investment units and secondary offering of investment units as well as amendments thereto (if any) prepared by United Urban, and that the investment decisions are made at their discretion and responsibility. 1/ 15 6. “Estimated NOI Yield” and “Estimated Post-Depreciation Yield” shown in the “Average” column indicates the values arrived at when the “Estimated NOI Yield” and “Estimated Post-Depreciation Yield” of each Property to be Acquired are weighted averaged by the scheduled acquisition price of each Property to be Acquired and are expressed as a percentage and rounded down to first decimal place. 7. Regarding the Assets to be Acquired, the aggregated security deposit are 238,288 thousand yen and the aggregated total rental revenues (yearly) are 664,894 thousand yen. 2. Details of Acquisition A. MT Ariake Center Building I&II (1) Reason for Acquisition In accordance with the basic asset-management policy and its investment approach prescribed in its Articles of Incorporation, United Urban will acquire the Asset to be Acquired for the purpose of expanding its portfolio of logistics properties which falls into the category of “Others”. In making the decision to acquire the Asset to be Acquired, the following aspects were especially appreciated. 1. Location The property with regard to the Asset to be Acquired (hereinafter, the “Property” in this section A) is located in Ariake area of Koto-ku, Tokyo. The area along Tokyo Bay, including Ariake, is an area in which logistics centers are concentrated, due to its convenient access to central Tokyo and greater Tokyo area. The Property has an advantage as a logistics facility, as it is located in vicinity of the expressway interchanges. Located within a 5-minute walk from Ariake-tennis-no-mori Station on the Yurikamome Line and 9-minute walk from Kokusai-tenjijo Station on the Rinkai Line, the Property is conveniently located in terms of public transportation and thus has advantage in securing employee. The area on the north side of the Property is scheduled to be one of the venues for the 2020 Tokyo Olympic Games. The area on further north of the Property, Toyosu, is an area where a new wholesale market is to open. Therefore, a further development in the future is anticipated. Moreover, the area along Tokyo Bay is an area in which a numerous condominium development has been taken place in recent years due to its proximity to the central business district. Therefore, the land of the Property has a high asset value as a site for condominium development. 2. Building The Property comprises two buildings; MT Ariake Center Building I (the “Building I”) which was build in 1989 and MT Ariake Center Building II (the “Building II”) which was built in 1992. The Property is a large-scale logistics facility with an aggregated floor area of over 22,000 m2 and it features a ceiling height of 6.3-4.8m (Building I: 6.3-5.4m, Building II: 5.6-4.8m), a floor weight capacity of 2.0-1.0t/ m2 (Building I: 2.0-1.5t/ m2, Building II: 1.0t/ m2), a column span of 9.8-9.0m. It is also equipped with truck berths and thus has a versatility that enables an efficient operation by the tenants. 3. Tenants, etc. The Property has been leased to 3 end-tenants (Building I: 2 tenants, Building II: 1 tenant) through the master lessee. Due to its proximity to area of high consumption in central Tokyo, demands from clients that distribute items in a frequent manner, such as home-delivery service, apparel, sundries, processed food, beverages, etc. are anticipated. In addition, the Property can correspond to various tenant needs such as storage and distribution of office supplies, and depository of business documents, and thus a stable occupancy is anticipated. (2) Summary of Acquisition 1. Asset to be Acquired : Trust beneficial interest in real estate 2. Property Name : MT Ariake Center Building I&II 3. Scheduled Acquisition Price : ¥ 8,000 million 4. Agreement Date : November 20, 2014 (conclusion of the purchase and sale agreement of the trust beneficial interest） 5. Scheduled Acquisition Date : November 25, 2014 (transfer of the trust beneficial interest) 6. Seller : Undisclosed (Please see “(4) Seller Profile” below.) 7. Financing : Borrowing and cash on hand (scheduled) 8. Date of Payment : November 25, 2014 (scheduled) This press release has been prepared for the purpose of announcing to the public certain matters relating to borrowings and has not been prepared for the purpose of solicitation for investment. United Urban asks that investors make investment decisions only after they have made sure to refer to the prospectus for the issue of new investment units and secondary offering of investment units as well as amendments thereto (if any) prepared by United Urban, and that the investment decisions are made at their discretion and responsibility. 2/ 15 (3) Outline of the Property (Note 1) Property Name MT Ariake Center Building I&II Type of the Property Trust beneficial interest in real estate Trustee Mizuho Trust & Banking Co., Ltd. Period of Trust Agreement From October 31, 2003 to November 30, 2024 Lot number 1-6-2 Ariake, Koto-ku, Tokyo Location (Note 2) ①1-2-41 Ariake, Koto-ku, Tokyo Residential ②1-2-39 Ariake, Koto-ku, Tokyo 5-minute walk from Ariake-tennis-no-mori Station (Yurikamome Line, Tokyo Waterfront New Transit Waterfront Line) Access 9-minute walk from Kokusai-tenjijo Station (Rinkai Line, Tokyo Waterfront Area Rapid Transit) Use (Note 2) Warehouse Land 8,307.00 m2 2 Site Area (Note 2) Building ①18,887.44 m ②4,030.50 m2 ①S/SRC 5F Structure and Scale(Note 2) ②S 5F Land: Proprietary Ownership Type of Ownership Building: Proprietary Ownership ①April 1989 Completion Date (Note 2) ②June 1992 Initial Building Owner Maruishi Kogyo K.K. ①Shimizu Corporation Constructor ②Maruishi Kogyo K.K. Scheduled Acquisition Price ¥8,000 million Appraisal Value ¥8,160 million Date of Value Estimate October 1, 2014 Appraisal Agency Appraisal by Japan Real Estate Institute (Appraisal Method) Probable Maximum Loss (PML) ①12% ②13% Collateral None (Administrative laws and regulations) ・As the Property is located in a zone designated in the plan of Ariake North Area in the New Tokyo Waterfront Sub-center (Rinkai-Fukutoshin), the use of the land, height of the building, location of the walls, etc., of the Property are subject to certain limitations and standards.