Starts Proceed Investment Corp (TSE:8979) entered into an agreement to acquire an unknown majority stake in Proceed TX Nagareyama Central Park from Starts Corporation Inc. (JASDAQ:8850) for approximately ¥980 million on October 10, 2014. As per the terms of the deal, Starts Proceed Investment will acquire compartmentalized ownership of Proceed TX Nagareyama Central Park constituting 73,964,088/100,000,000 of quasi co-ownership interest in the land representing 73.96% and one portion of the two exclusive portions of the building. The full payment will be made upon the completion of the acquisition.

In related transactions, Starts Proceed Investment Corp (TSE:8979) concluded a purchase and sale contract to acquire Proceed Nihonbashi Horidomecho, Proceed Gyotoku 2, Proceed Nishi-Kasai, Proceed Kanayama 2, Proceed Aratamabashi and Proceed Tsukuba Gakuentoshi from Starts Development Corporation for ¥8.1 billion on October 10, 2014. The transaction will be financed from proceeds generated by the issuance of new investment units of ¥4.78 billion, loans of ¥5.2 billion and funds on hand. The transaction is expected to close on November 4, 2014.

Chuo Real Estate Appraisal Co., Ltd. acted as appraiser for Proceed TX Nagareyama Central Park.