Global One Real Estate Investment : GOR Announces Acquisition of Trust Beneficiary Interest in Domestic Real Estate (LUCID SQUARE SHIN-OSAKA)

28 November 2025

REIT Issuer: Global One Real Estate Investment Corp.

Securities Code: 8958 Representative: Akio Uchida, Executive Director

Asset Manager: Global Alliance Realty Co., Ltd.

Representative: Kazunori Yamauchi, President

Contact: Gen Yamazaki General Manager

REIT Finance Department Tel: +81-3-4346-0658

(LUCID SQUARE SHIN-OSAKA)

Global One Real Estate Investment Corp. (“GOR”) announces today that Global Alliance Realty Co., Ltd. (“GAR”), the Asset Manager to which GOR entrusts the management of its assets, decided on the acquisition of trust beneficial interest in domestic real estate (hereinafter the acquisition of trust beneficial interest in domestic real estate is referred to as the “Acquisition”) as outlined below.

1. Outline of the Acquisition

   1. Type of asset: Trust beneficial interest in real estate

   2. Name of building: LUCID SQUARE SHIN-OSAKA

   3. Location: Osaka City, Osaka

   4. Acquisition price: 9,720 million yen (*)

   5. Scheduled acquisition date: 5 December 2025

   6. Seller: Special Purpose Company Bryan

   7. Brokerage: None

   8. Funds of acquisition: Borrowing and own funds

      Hereinafter, the above asset for acquisition is referred to as the “Asset Acquired”.

      (*) The acquisition price represents the prices described in the purchase agreement, excluding related expenses, settlement amount of property tax and city planning tax, consumption tax and local consumption tax.

2. Reason for the Acquisition

   GOR will conduct the Acquisition with the aim of enhancing the quality of the portfolio properties from a medium- to long-term perspective, pursuant to the “Investment Policies and Investment

   Targets” stipulated in the Articles of Incorporation.

   The Acquisition is positioned as an asset replacement for Shinagawa Seaside West Tower, which was sold in March 2025 due to concerns over declining profitability arising from the outflow of major tenants. The Asset Acquired was sourced through the Asset Manager’s independent sourcing activities, through which GOR obtained a preferential negotiation right. The property is fully occupied, features a well-diversified tenant base, and offers upside potential for rent increases with an estimated rent gap of around 30%. It is evaluated as a transaction that will contribute to the enhancement of GOR unitholder value over the medium to long term.

   	The Asset Acquired	(reference) The Asset Transferred
   	LUCID SQUARE SHIN- OSAKA	Shinagawa Seaside West Tower
   Acquisition price / Transfer price (*1)	9,720 million yen	12,440 million yen
   NOI yield (*2)	3.9%	2.7%
   NOI yield after depreciation (*2)	3.6%	2.0%
   Building age (*3)	35.2 years	21.4 years

   (*1) Calculated based on the sales price and the exchange price stated in the sales contracts and the Exchange Agreement.

   (*2) Asset Acquired: “NOI yield” = “Appraisal NOI” / “Acquisition price”

   “NOI yield after depreciation” = (“Appraisal NOI” – “Annual amount of depreciation calculated using the straight-line method corresponding to the useful life of the Asset Acquired“) / “Acquisition price”

   Asset Transferred: “NOI yield” = “NOI forecast for the period ending September 2025 (adjusted for the impact of the major tenant move-out*)” × 2 ÷ “Acquisition price”

   (*) It is assumed that half of the vacancies will be filled at market rent levels at the time. “NOI yield after depreciation” = (“NOI forecast for the period ending September 2025 (adjusted for the impact of the major tenant move-out*)” – “Depreciation forecast for the period ending September 2025”) × 2 ÷ “Acquisition price”

   (*3) As of 5 December 2025.

   The key determinant factors of the acquisition of the Asset Acquired include the following. Furthermore, the lessee of the Asset Acquired is deemed to comply with the tenant selection criteria of GOR described in the “Report on Management Structure and System of the Issuer Concerning Real Estate Investment Trust Units and Related Parties” submitted on 24 June 2025.

   1. District potential

      The “Shin-Osaka” area, where the property is located, is a major terminal served by the Tokaido and Sanyo Shinkansen lines, the JR Tokaido Main Line connecting Kyoto and Kobe, and the Osaka Metro Midosuji Line. It also offers direct access to Kansai International Airport via the JR Haruka limited express, and provides convenient access to Osaka International Airport (Itami Airport) within approximately 30 minutes by subway, monorail, or bus, enabling excellent connectivity not only to central Osaka and neighboring cities, but also to major cities across Japan and overseas.

      Leveraging this outstanding accessibility, the area hosts a high concentration of regional

      headquarters for wholesale and manufacturing companies that place importance on wide-area operational reach, as well as Kansai/Osaka regional headquarters of companies headquartered in Tokyo. Numerous information and communications-related companies, ranging from large enterprises to small and medium-sized firms, are located in the area, creating a stable level of tenant demand.

   2. Location potential

      The property is located just a 1-minute walk from JR “Shin-Osaka Station,” where the Tokaido Shinkansen terminates and the Sanyo Shinkansen begins and is also accessible within a 7-minute walk to Osaka Metro Midosuji Line “Shin-Osaka Station” via a connecting passageway. This excellent transport access—particularly the rare advantage of being only a 1-minute walk from the Shinkansen exit—makes the property highly compatible not only with customer-facing tenants, but also with tenants engaged in wide-area sales activities that use JR “Shin-Osaka Station” as their operational base, including those utilizing company vehicles.

      Furthermore, if the planned opening of the Naniwasuji Line, the Linear Chuo Shinkansen, and the Hokuriku Shinkansen is realized, travel times to Kansai International Airport as well as to Tokyo and the Hokuriku region are expected to be further reduced.

      In addition to this excellent transportation convenience, the surrounding area is expected to undergo broad revitalization. Following the designation of the Shin-Osaka district area (Shin-Osaka, Juso, Awaji) as an Urban Regeneration Emergency Development Area in October 2022, Osaka City is advancing plans to develop the district into one of the world’s leading wide-area transportation hubs. Enhancements to pedestrian networks connecting the station and the development of large-scale exchange facilities are expected to activate the area extensively.

   3. Property specifications

      The property offers a typical rentable floor area of 184 tsubo with an efficient, effective structure with excellent rentable floor layout, and supports small-scale division with a minimum rentable floor area of 24 tsubo. It also provides 75 parking spaces, accommodating tenant needs for company vehicles used in sales activities. In addition, to further enhance the property's competitiveness, the entrance and common areas on each floor were renovated in June 2021, and the property holds an A-rank “CASBEE for Real Estate” certification.

3. Details of the Asset Acquired

   1) Type of specified assets, its name and location, etc.
   Name of building	LUCID SQUARE SHIN-OSAKA
   Type of specified assets	Trust beneficial interests in real estate
   Trustee	Mitsubishi UFJ Trust and Banking Corporation
   Trust period (*1)	2 April 2018 – 31 December 2035 (scheduled)
   Location	Address: 1-19-4, Higashinakajima, Higashiyodogawa-ku, Osaka City, Osaka Land number: 1-19-1, Higashinakajima, Higashiyodogawa-ku, Osaka City, Osaka
   Land (*2)	Ownership	Ownership (Trust beneficial interest)
   	Land area	2,034.62 sqm (Total site area)
   Building (*2)	Ownership	Ownership (Trust beneficial interest)
   	Use	Office and parking
   	Floor area	9,383.85 sqm (total floor area of the entire building)
   	Year built	November 1990
   	Structure	12-story reinforced concrete steel-framed building with a flat roof
   	Designer Construction firm	Obayashi Corporation Head Office, First-Class Architect Office Obayashi Corporation
   Acquisition price	9,720 million yen
   Appraisal value (Date of appraisal) (Appraisal institution)	9,870 million yen (as of 31 October 2025) (Chuo Real Estate Appraisal Co., Ltd.)
   Engineering report	PML (*3)	7.2%: Analysis results based on a report dated 16 October 2025 prepared by Engineering and Risk Services Corporation
   	CAP-EX	386,660 thousand yen over 12 years (annual average: 32,221 thousand yen): Estimate based on an engineering report dated 11 November 2025 by ERI SOLUTION CO., LTD..
   Collateral	None
   Notes	By saving a certain percentage of open land on the site, the property was constructed under the Comprehensive Design System, and the floor-area ratio was relaxed by approximately 76%. As to the property, ordinary leased house contracts are conducted with 21 tenants as building lessees.

   2) Tenant profile, leasing status (*4)
   Total number of tenants	21
   Total rent and common area charges per month	29 million yen
   Security deposit	158 million yen
   Total leasable area	7,099.42 sqm
   Total leased area	7,099.42 sqm
   Trend in Occupancy ratio (*5)	November-end 2023	November-end 2024	Scheduled acquisition date
   	97.6%	100.0%	100.0%
   Expected NOI (*6)	392 million yen / year (expected occupancy ratio: 96%)
   Appraisal NOI (*6)	376 million yen / year
   Depreciation (*7)	23 million yen / year

   (*1) Trust period after (planned) amendments to the trust agreement is indicated.

   (*2) “Area,” “use,” “floor area,” “year built,” and “structure” are shown based on the registration, unless otherwise stated.

   (*3) PML is a probable maximum loss in the event of a major earthquake. While the definition may vary depending on the region, the PML used herein is a loss rate to assess damage, calculated by dividing the loss amount by the replacement cost. The figure is based on the assumption that the building will be in use for 50 years and that the largest expected earthquake has a 10% probability of occurring every 50 years within the recurrence range of 475 years.

   (*4) “Total number of tenants” represents the estimated amounts of tenants as of the scheduled acquisition date. “Total rent” and “common area charges per month,” “security deposit,” “total leasable area,” and “total leased area” represent the estimated amounts as of the scheduled acquisition date.

   (*5) “Trend in Occupancy ratio” is based on data provided by the seller.

   (*6) “NOI” means net operating income, the amount of the total rental revenue less property-related expenses (excluded depreciation and amortization costs).

   “Expected NOI” is an expected annual figure, not a forecast number for the next period, based on the assumption the occupancy rate will be the expected occupancy rate and considering the occurrence of taxes and public dues.

   “Appraisal NOI” is the NOI that was used in the calculation of direct capitalization value stated in the appraisal report summary in 11 below.

   (*7) “Depreciation” represents the current estimate amount.

4. Outline of the Seller