Star Asia Investment : Notice Concerning Debt Financing (Determination of Loan Interest Rate)

April 18, 2022

For Immediate Release

Real Estate Investment Trust Securities Issuer

Star Asia Investment Corporation

Representative: Atsushi Kato, Executive Officer

(Code: 3468)

Asset Management Company

Star Asia Investment Management Co., Ltd.

Representative: Atsushi Kato

President and CEO

Contact:Akiko Kanno Director and CFO TEL: [phone]

Notice Concerning Debt Financing (Determination of Loan Interest Rate)

Star Asia Investment Corporation ("SAR") announces today that the interest rate of the following loan announced in "Notice Concerning Debt Financing" on April 18, 2022 (the "Debt Financing"), has been determined. Details are as follows.

1.

Details of the Debt Financing

Method of Borrowings: Borrowings under individual term loan agreements from the lenders described below. (Scheduled contract date: April 18, 2022)

Term (Note 1)	Lenders	Borrowing amount	Interest rate (Note 4)	Expected Date of borrowing	Principal Repayment Date (Note 5)	Repayment method	Security
Long-term borrowings	A syndicate of lenders with Sumitomo Mitsui Banking Corporation and Mizuho Bank, Ltd. As arrangers (Note 2)	3,150 million yen	Fixed	0.90672% (Note 4)	April 20, 2022	May 31, 2027	Lump sum repayment on principal repayment date (Note 6)	Unsecured and Unguaranteed

(Note 1)	Borrowings with repayment periods exceeding 1 year are classified as "long-term".
(Note 2)	The syndicate of lenders consists of Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., Shinsei Bank,
Limited., Sumitomo Mitsui Trust Bank, Limited., Aozora Bank, Ltd., and Resona Bank, Limited,.
(Note3)	Financing fees and other charges payable to the lenders are not included.
(Note 4)	These first interest payment date is May 31, 2022, and thereafter, interest payment dates shall fall on the last day
of every 3 months and on the principal repayment date. However, if such day is a non-business day, the interest
payment date shall be the immediately following business day, or if such day falls in the next month, the interest
payment date shall be the immediately preceding business day.
(Note 5)	If the principal repayment date is not a business day, repayment shall be made on the next following business
day; however, if such date falls in the next month, repayment shall be made on the immediately preceding
business day.
(Note 6)	If certain conditions, such as advance notification in writing by SAR, are met during the period between the date
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of borrowing and the principal repayment date, SAR may prepay the borrowed amounts either in whole or in part prior to maturity.

(Note 7)

Certain financial covenants, such as stipulating that certain financial figures should be maintained based on assets and liabilities, are expected to be established for the Debt Financing.

2.

Other matters required for investors to appropriately understand and evaluate the above information

Concerning the risks pertaining to the repayment of the Debt Financing, there are no changes to "Part 1. Fund Information, I. Overview of the Fund, 3. Investment Risks" stated in the securities report (Japanese only) submitted on October 28, 2021.

* Star Asia Investment Corporation website address:http://starasia-reit.com/en/

This is an English translation of the announcement in Japanese dated April 18, 2022. However, no assurance or warranties are given for the completeness or accuracy of this English translation.

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