Tokyu REIT to Sell Shimokitazawa Retail Property to Sumitomo Corp. for JPY 2.7 Billion

Tokyu REIT, Inc. will divest the retail property TOKYU REIT Shimokitazawa Square in Setagaya Ward, Tokyo, to Sumitomo Corporation. The transfer price is JPY 2.687 billion, compared with a book value of JPY 2.172 billion. The sale and purchase agreement was signed on September 11, with closing scheduled for October 7.

The property was completed in 2008, featuring four above-ground floors and one basement level, with a gross floor area of approximately 395 tsubo (approx. 13,050 sq. ft.). It is located within a five-minute walk of Shimokitazawa Station.

Key Facts

• Property Name: TOKYU REIT Shimokitazawa Square

• Buyer: Sumitomo Corporation

• Seller: Tokyu REIT, Inc.

• Transaction Price: JPY 2,687 million

• Address: 6-1, Daita 6-chome, Setagaya-ku, Tokyo

• Nearest Station: 3-min walk to Keio Inokashira Line “Shimokitazawa” Station / 5-min walk to Odakyu Odawara Line “Shimokitazawa” Station

• Completion: June 2008

• Number of Floors: 4F / B1

• Gross Floor Area: approx. 395 tsubo (approx. 13,050 sq. ft.)