Marimo Regional Revitalization REIT, Inc. agreed to acquire Seven properties in Japan from Marimo Co., Ltd for ¥7.7 billion.
January 04, 2018
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Marimo Regional Revitalization REIT, Inc. (TSE:3470) agreed to acquire Seven properties in Japan from Marimo Co., Ltd for ¥7.7 billion on January 4, 2018. Seven properties in Japan include ArtizA Kamimaezu II, Artisa Chiyoda, MRR Kumamoto, MRR Sasebo, MRR Itoshima, MRR Akita and Super Center Trial Togitsu Branch (land interest). Under the terms, Marimo Regional Revitalization REIT will acquire ArtizA Kamimaezu II, Artisa Chiyoda, MRR Kumamoto, MRR Sasebo, MRR Itoshima, MRR Akita and Super Center Trial Togitsu Branch (land interest) for ¥720 million, ¥980 million, ¥2.12 billion, ¥990 million, ¥900 million, ¥840 million and ¥1.2 billion respectively. The consideration will be paid on January 23, 2018. The transaction is funded from proceeds from the issuance of new investment units resolved at the Board of Directors meeting of the Marimo Regional Revitalization REIT held on January 4, 2018 and loans.
The transaction is expected to close on January 23, 2018. Japan Valuers Co., Ltd acted as appraiser of ArtizA Kamimaezu II, MRR Kumamoto, MRR Itoshima and MRR Akita and The Tanizawa Sogo Appraisal Co., Ltd acted as appraiser of Artisa Chiyoda, MRR Sasebo and Super Center Trial Togitsu Branch (land interest).
Marimo Regional Revitalization REIT, Inc. is a closed-end real estate investment trust (REIT). It aims to achieve sustainable growth in asset and stable earnings from mid- to long-term perspectives. The Company mainly invests in residences, commercial facilities, office buildings, hotels and other facilities in cities of Kyushu, Tohoku and Chugoku areas, as well as Tokyo metropolitan area in Japan. The asset manager of the Fund is Marimo Asset Management Co., Ltd.
MARIMO REGIONAL REVITALIZATION REIT, INC. 
