This English translation is provided for information purposes only. If any discrepancy is identified between this translation and the Japanese original, the Japanese original shall prevail.
November 11, 2025 REIT Issuer:
Japan Hotel REIT Investment Corporation (TSE code: 8985) Kaname Masuda, Executive Director
Asset Management Company:
Japan Hotel REIT Advisors Co., Ltd. Hiroyuki Aoki, President & CEO Contact:
Noboru Itabashi
Director of the Board, Managing Director Head of Corporate Division
TEL: +81-3-6422-0530
Notice Concerning New Loans (Refinancing with Green Loan)
Japan Hotel REIT Investment Corporation (hereinafter called "JHR") announces that JHR has resolved today to procure funds through a green loan (hereinafter called the "New Loans") for the purpose of refinancing existing loans.
Summary of the New Loans
Content of the New Loans
JHR plans to refinance the existing loans due on November 20, 2025 (hereinafter called the "Loans Scheduled for Repayment").
Details of the New Loans
Name
Lender
Amount of New Loan (JPY MM)
Interest Rate
(*1)(*2)
Scheduled Borrowing Date
Maturity Date
Collateral/ Method of Principal Repayment
Term Loan 125 (*3)
MUFG Bank, Ltd.
1,000
Base interest rate + 0.45%
November 20,
2025
September 30,
2031
Unsecured/ Unguaranteed Lump-sum payment on the maturity date
(*1) The first interest payment will be due on the last day of November 2025, and subsequent interest payments will be due on the last day of each month thereafter (or the immediately preceding business day if that day is not a business day) and the maturity date.
The base interest rate for the calculation period of the interest to be paid on the interest payment date will be the 1-month JBA Japanese Yen TIBOR as of two business days prior to the immediately preceding interest payment date (or two business days prior to the borrowing date as to the first interest calculation period). Please refer to the website of the JBA TIBOR Administration for the JBA Japanese Yen TIBOR (https://www.jbatibor.or.jp/english/rate/).
(*2) JHR plans to conclude interest rate swap contracts to fix the interest rates for the New Loans. The details will be announced once they are determined.
(*3) The New Loans will be borrowed as green loans under the Green Finance Framework, originally formulated by JHR in January 2024 (revised in August 2024). The loans will be partially used to repay borrowings (including investment corporation bonds and loans from subsequent refinancing) related to the acquisition of the following properties, all of which meet the Eligibility Criteria as green buildings: Hilton Tokyo Narita Airport, International Garden Hotel Narita and Hotel Nikko Nara.
For more details on the Green Finance Framework, please refer to JHR's website below. https://www.jhrth.co.jp/en/esg/greenfinance.html
Summary of Loans Scheduled for Repayment
Summary of Repayment
JHR plans to repay the loans using the New Loans.
Amount of Repayment JPY1,000MM
Scheduled Repayment Date November 20, 2025
Details of the Loans Scheduled for Repayment
Name
Lender
Loan Balance before Repayment (JPY MM)
Borrowing Date
Maturity Date
Term Loan 112
Sumitomo Mitsui Trust Bank, Limited
1,000
November 20, 2024
November 20, 2025
Status of Interest-bearing Debts after the New Loans (scheduled)
(Unit: JPY MM)
Category
Before
After
Variance
Short-term loans
1,000
-
(1,000)
Long-term loans (*2)
234,681
235,681
1,000
Total loans
235,681
235,681
-
Total investment corporation bonds
33,700
33,700
-
Total interest-bearing debts
269,381
269,381
-
(*1) Amounts are rounded down to the nearest millions of yen.
(*2) Long-term loans payable within one year are included in the long-term loans.
The fixed interest rate ratio to the total interest-bearing debts after the New Loans (upon fixing the interest rate) is expected to be around 80%.
Others
There are no material changes to the risks related to the New Loans from those described under "Investment Risks" in the securities report filed on March 24, 2025 and in the semi-annual securities report (Japanese only) submitted on September 22, 2025.
* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en/