Kenedix Office Investment gets ¥1.5 billion of loans, one green

By Mary-Katherine Stinson

Lexington, Ky., July 26 – Kenedix Office Investment Corp. secured ¥1.5 billion of loans, including one green loan, according to a company release.

The company will receive a ¥500 million green loan, designated as series 202-B, from Hiroshima Bank, Ltd.

The loan will mature on July 31, 2029.

Proceeds will be used to repay debt incurred in the acquisition of some eligible green properties in accordance with the corporation’s green finance framework. The framework has received a Green1(F) rating from Japan Credit Rating Agency, Ltd. on Aug. 10, 2022.

Specifically, the proceeds will be used to repay loans, identified as series 165, with the principal repayment date of July 31.

Additionally, the corporation will close on a ¥1 billion tranche, designated as series 202-A, from Sumitomo Mitsui Trust Bank, Ltd.

Both loan tranches have a contract date of July 27 and will be drawn down on July 31.

Tokoyo-based Kenedix is an office building-specific real estate investment trust.

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