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NTT UD REIT Investment secures ¥18.9 billion in loans for acquisition
By Mary-Katherine Stinson
Lexington, Ky., March 8 – NTT UD REIT Investment Corp. secured ¥18.9 billion in financing through 10 term loans, seven of which are designated green loans, according to a notice.
The green loans total ¥15.2 billion.
To be drawn down on March 14 are the following green loans:
• A ¥2 billion one-year loan from Mizuho Bank, Ltd. to be repaid on Feb. 28, 2025, bearing interest at a floating rate based on Tibor plus 12 basis points;
• A ¥2.5 billion 2.5-year loan from Sumitomo Mitsui Trust Bank, Ltd. to be repaid on Aug. 31, 2026;
• A ¥2.2 billion 3.5-year loan from Sumitomo Mitsui Trust Bank to be repaid on Aug. 31, 2027;
• A ¥2 billion 5.5-year loan from MUFG Bank, Ltd. to be repaid on Aug. 31, 2029;
• A ¥1.5 billion 6.5-year loan from MUFG Bank to be repaid on Aug. 30, 2030;
• A ¥2.5 billion seven-year loan from Mizuho Bank to be repaid on Feb. 28, 2031; and
• A ¥2.5 billion eight-year loan from Sumitomo Mitsui Banking Corp. to be repaid on Feb. 27, 2032.
Additionally, a ¥750 million six-year loan from Aozora Bank, Ltd., to be repaid on Feb. 28, 2030, will also be borrowed on March 14. This was used to repay long-term loans of the same amount which matured on Feb. 29.
To be drawn down on March 22 are the following: a ¥2.5 billion four-year loan from NTT TC Leasing Co., Ltd., to be repaid on Feb, 29, 2028, and a ¥450 million seven-year loan from Mizuho Bank to be repaid on Feb. 28, 2031.
Except for the one-year loan from Mizuho, all the other loans will bear interest at a fixed rate which is yet to be determined.
Proceeds will be used to replenish cash on hand which was decreased due to loan repayment and the purchase of Granpark, which is scheduled to be acquired on March 14, and Garden Itabashi Hikawacho, which is scheduled to be acquired on March 22.
The real estate trust company is based in Tokyo.
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