MCUBS MidCity Investment Corporation (TSE:3227) entered into a sale and purchase agreement to acquire Sasazuka Center Building from Iino Kaiun Kaisha, Ltd. (TSE:9119) for approximately ¥8.7 billion on February 14, 2017. In related transactions, MCUBS MidCity Investment Corporation entered into a sale and purchase agreement to acquire USC Building from Japan Private REIT, Inc for ¥5 billion and sell MID Midosujikawaramachi Bldg to an undisclosed purchaser for ¥1.7 billion on February 14, 2017. The acquisition price will be paid as a single payment upon delivery of each property. The acquisition will be funded through proceeds from issuing 29.100 new investment units and cash reserves. The total annual rent for Sasazuka Center Building is ¥0.5 billion. If the agreement is cancelled for the reason of the seller's violation to agreements specified therein, the party cancelling the agreement may demand 20% of the sale price as penalty fees from the counterparty. As of February 14, 2017 Board of Iino Kaiun Kaisha, Ltd. resolved the transaction. The acquisition of Sasazuka Center Building is expected to close on March 22, 2017. Daiwa Real Estate Appraisal Co., Ltd. acted as the appraiser of the Sasazuka Center Building.

MCUBS MidCity Investment Corporation (TSE:3227) completed the acquisition of an agreement to acquire Sasazuka Center Building from Iino Kaiun Kaisha, Ltd. (TSE:9119) on March 22, 2017.