An unknown buyer entered into sale and purchase agreement to acquire Royal Hill Kobe Sannomiya II from Sakura Sogo REIT Investment Corporation (TSE:3473) for ¥1.8 billion on July 31, 2017. In related transaction, Sakura Sogo REIT Investment Corporation (TSE:3473) entered into sale and purchase agreement to acquire Abode Yoyogi Parkside for ¥1.6 billion on July 31, 2017. In case of breach, buyer will pay a termination fee of 20% equivalent to ¥360 million which comprises of 10% of deposit and 10% of cancellation penalty. The transaction is expected to close on September 11, 2017. Daiwa Real Estate Appraisal Co., Ltd acted as appraiser and Nomura Real Estate Development Co., Ltd acted as broker in the deal.