For Translation Purposes Only August 27, 2012 For Immediate Release United Urban Investment Corporation Hisamitsu Abe Executive Officer (Securities Code: 8960) Asset Management Company: Japan REIT Advisors Co., Ltd. Kenichiro Oikawa President and CEO Inquiries: Kenichi Natsume Chief Financial Officer TEL: +81-3-5402-3680 Notice Concerning Acquisition of Property (Yushima First Building) United Urban Investment Corporation (“United Urban”) hereby announces its decision to acquire a property as set forth below on August 27, 2012. 1. Acquisition of the Property United Urban will acquire the following trust beneficial interest in real estate (the “Asset to be Acquired”). Scheduled Type of Use Scheduled Property Name Location (residential) Acquisition Price (Note 1) Acquisition Date (Note 2) Yushima First 3-19-11 Yushima, Bunkyo-ku, Office, Parking Lot ¥2,100 million August 29, 2012 Building Tokyo (Notes) 1. Of the uses indicated on the real estate register, the primary ones are shown. 2. The scheduled acquisition price shown is based on the purchase price to be stated in the sale and purchase agreement for the acquisition of the Asset to be Acquired. In addition, the price is shown in the amount excluding acquisition costs, property taxes, city planning taxes and consumption taxes and other costs. 2. Details of Acquisition (1) Reason for the 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 office buildings in the 23 Wards of Tokyo. In making the decision to acquire such Asset to be Acquired, the following aspects were appreciated. 1. Location The property related to the Asset to be Acquired (the “Property”) is located in a good area for business, as it is a four-minute walk from Yushima Station on the Tokyo Metro Chiyoda Line, and is also within walking distance from four stations of JR line and three other subway lines. The area surrounding the Property features a number of medical institutions, large and small, ranging from general hospitals such as The University of Tokyo Hospital, Tokyo Medical and Dental University Hospital and Juntendo University Hospital, to small clinics. Therefore, stable demand from facilities or companies related to the medical services industry is anticipated. In addition, as the location of the 1 Property is close to the Akihabara area, demand from companies related to the computer and electronics industries is also anticipated. 2. Building We have evaluated the Property as having a competitive advantage in terms of size, as the building on the Property boasts a standard floor area (3rd floor) of approximately 200 tsubo, in an area where office buildings with a standard floor area of 100 tsubo or less are dominant. We have also evaluated that the large and well-lit entrance hall, and the stone pitched outer wall which exudes a certain dignity, should appeal to tenants. 3. Tenants, etc. For the Property, a building lease agreement (pass-through-type master lease agreement) for the entire building has been concluded between Mitsubishi UFJ Trust and Banking Corporation, the trustee of the Property, and the current owner of the Property. After acquisition of the Asset to be Acquired, United Urban will terminate that agreement and conclude a new pass-through-type master lease agreement with the trustee, making United Urban the lessee (master lessee) of the Property. Many tenants of the Property are companies related to the medical services industry or other companies taking advantage of the characteristics of the area. Therefore, we anticipate a solid occupancy after United Urban has acquired the property. (2) Summary of Acquisition 1. Asset to be Acquired : Trust beneficial interest in real estate 2. Name of the property : Yushima First Building 3. Scheduled Acquisition Price : ¥2,100,000 thousand (excluding acquisition costs, property taxes, city planning taxes and consumption taxes and other costs) 4. Agreement Date : August 29, 2012 (conclusion of the sale and purchase agreement of trust beneficial interest) 5. Scheduled Acquisition Date : August 29, 2012 (transfer of trust beneficial interest) 6. Seller : Godo Kaisha Yushima Property 7. Financing : Cash on hand and debt financing (scheduled) 8. Date of Payment : August 29, 2012 (scheduled) (3) Outline of the Asset to be Acquired Property Name Yushima First Building Type of the Asset to be Acquired Trust beneficial interest in real estate Asset Custodian Mitsubishi UFJ Trust and Banking Corporation Current Beneficiary Godo Kaisha Yushima Property Period of Trust Agreement From July 28, 2011 to August 31, 2022 (scheduled) 3-45-1, 3-45-2, 3-46, 3-336-1, 3-336-2, 3-336-5 Yushima, Lot number Location (Note 1) Bunkyo-ku, Tokyo (Note 2) Residential 3-19-11 Yushima, Bunkyo-ku, Tokyo 4 minute walk from Yushima Station (Tokyo Metro Chiyoda Line) 6 minute walk from Suehirocho Station (Tokyo Metro Ginza Line) Access 8 minute walk from Okachimachi Station (JR Lines) 8 minute walk from Ueno-Okachimachi Station (Toei Oedo Subway Line) Use (Note 1) Office, Parking Lot Land 1,120.85 m2 Site Area (Note 1) Building 6,165.88 m2 Structure (Note 1) SRC B1/8F Land: Proprietary Ownership Type of Ownership Building: Proprietary Ownership Completion Date (Note 1) February 23, 1989 2 Scheduled Acquisition Price ¥2,100,000 thousand Appraisal Value ¥2,420,000 thousand Date of Value Estimate August 15, 2012 Appraisal Agency Appraisal by Japan Real Estate Institute (Appraisal Method) Probable Maximum Loss (PML) 13% Collateral None A portion of the wall on the land adjacent to the north side of the Property crosses the boundary into the land of the Property. A memorandum of Special Instructions understanding with the titleholder of the land adjacent to the north side of the Property has not yet been signed. Details of Tenant (Note 3) Total Number of Tenants (Note 4) 6 Security Deposit ¥131,528 thousand Total Rental Revenues (yearly) ¥201,967 thousand Total Leasable Floor Space 4,623.66 m2 Total Leased Floor Space 4,241.10 m2 Occupancy Ratio (Note 5) 91.7% Reference Estimated NOI (yearly) (Note 6) ¥148 million (Notes) 1. Each piece of information in “Location (Lot number)”, “Use”, “Site Area”, “Structure” and “Completion Date” is described as it appears on the real estate register. 2. Of the land related to the Asset to be Acquired, “lot number 3-336-5” (30m2) has not been entrusted as of the date of this document; it will be entrusted as a trust beneficial interest on the scheduled acquisition date by United Urban, and United Urban will acquire the trust beneficial interest including the aforementioned land. 3. “Details of Tenant” are figures as of July 31, 2012. Ratios are rounded to first decimal place. 4. As of July 31, 2012, a pass-through-type master lease agreement has been concluded between the trustee and the master lessee with regard to the Property. Therefore, the “Total Number of Tenants” figure is stated by aggregating the number of end tenants subleased to by the master lessee. 5. “Occupancy Ratio” means the percentage obtained by dividing “Total Leased Floor Space” by “Total Leasable Floor Space”. 6. “NOI (Net Operating Income)” means the figure equal to income from property leasing (rental revenues - rental expenses) plus depreciation and amortization. “Estimated NOI” means the estimated figure, during steady operation, which is calculated based on the terms and conditions of leasing after the acquisition by United Urban. The estimated occupancy ratio is 90.0%. “Owner”, “Architect”, “Constructor”, “Structural Strength Calculator” and “Building Inspection Agency” of the Property are as set forth below. Property Structural Strength Building Inspection Owner Architect Constructor No. Calculator Agency Tokyu Construction B38 K.K. Dream Factory K.K. Tokyo Sekkeisha K.K. Tokyo Sekkeisha Bunkyo-ku Co., Ltd None of the above owner, building architect, constructor, structural strength calculator and building inspection agency was included in the list of owners, architects, constructors, structural strength calculators and building inspection agencies of properties whose structural calculation statements were falsified as announced by the Ministry of Land, Infrastructure, Transport and Tourism as of July 25, 2012. (4) Seller Profile Company Name Godo Kaisha Yushima Property Head Office Address Undisclosed (Note) Executive Director: Yushima General incorporated association Representative Administrator: Koichi Yasuda 1. Acquisition, management and disposition of real estate. 2. Lease and management of real estate. 3. Acquisition, management and disposition of trust beneficial interest Principal Business in real estate. 4. Acquisition, management and disposition of securities (including deemed securities), other equity interest, or monetary claim of 3 company or association engaged in business described in preceding items. Acquisition, management and disposition of other investment asset. 5. All business incidental or relating to preceding items. Capital ¥100,000 (as of July 31, 2012) Date of Foundation July 4, 2011 Equity Member Undisclosed (Note) Net Asset Undisclosed (Note) Total Asset Undisclosed (Note) Relationship with United Urban or JRA Capital Ties There are no significant capital ties. Personal Relationship There are no significant personal relationships. Business Relationship There are no significant business relationships. The seller, Godo Kaisha Yushima Property, falls under neither the category of “related party, etc.” under the Act on Investment Trusts and Investment Corporations of Japan (the “Related Party”) nor the Standing to Related Party category of sponsor/stakeholder under the self-imposed rules of Japan REIT Advisors Co., Ltd. (“JRA”), the asset management company (the “Sponsor/Stakeholder”). (Note) Not disclosed because the seller has not given its consent for the disclosure. (5) Outline of Brokerage 1. Outline of Broker The broker of the Asset to be Acquired is a domestic corporation. However, the broker’s details are not disclosed because the broker has not given its consent for the disclosure of its profile, etc.