Notice Concerning Acquisition and Sale of Properties (Conclusion of Contracts) (Acquisition of Three Properties and Sale of Two Properties)

November 28, 2025

Japan Prime Realty Investment Corporation Satoshi Eida, Executive Officer

(Securities Code: 8955)

Asset Management Company:

Tokyo Tatemono Realty Investment Management, Inc. Yoshihiro Jozaki, President and CEO

Inquiries: Yoshinaga Nomura, General Manager of Finance and Administration Division, Director CFO

(TEL: +81-3-3516-1591)

Japan Prime Realty Investment Corporation ("JPR") announced today that Tokyo Tatemono Realty Investment Management, Inc. ("TRIM"), the asset management company to which JPR entrusts management of its assets, decided to implement the acquisition and the sale of properties (hereinafter respectively referred to as the "Acquisition" and the "Sale" and collectively referred to as "Asset Replacement") as described below.

Details

1. Purpose of the Asset Replacement and Overview of Transactions
   1. Purpose of the Asset Replacement

      JPR decided to acquire "GRAND FRONT OSAKA" (Note1), a large-scale mixed-use complex representing Osaka, "FUNDES Kamata", a high-quality retail property and "Hotel Gracery Asakusa", a limited-service hotel located in close proximity to major stations in Tokyo by utilizing its sponsor pipeline, and to sell aging properties, namely "JPR Yokohama Nihon Odori Bldg." and "Minami Azabu Bldg." in order to improve portfolio profitability and quality.

      (Note 1) "GRAND FRONT OSAKA" collectively refers to GRAND FRONT OSAKA (Umekita Plaza and South Building) and GRAND FRONT OSAKA (North Building), which are the assets to be acquired.

   2. Overview of the Asset Replacement

      Overview of the Acquisition
      (1) Property Name	GRAND FRONT OSAKA (Umekita Plaza and South Building) (Additional Acquisition)	GRAND FRONT OSAKA (North Building) (Additional Acquisition)	FUNDES Kamata	Hotel Gracery Asakusa
      (2) Asset Class	Office		Retail	Hotel
      (3) Acquisition Price	9,200 million yen	8,000 million yen	8,010 million yen	6,700 million yen
      (4) Appraisal Value	11,300 million yen	9,480 million yen	8,570 million yen	7,390 million yen
      (5) NOI Yield	4.0%	4.1%	3.8%	4.1%
      (6) NOI Yield after Depreciation	3.4%	3.5%	3.3%	3.5%
      (7) Contract Date	November 28, 2025
      (8) Planned Acquisition Date	December 19, 2025
      (9) Seller	Tokyo Tatemono Co., Ltd
      (10) Funding	Fund procurement through issuance of new investment units, loans and own funds
      (11) Settlement Method	Lump-sum payment at the time of delivery

      Overview of the Sale
      (1) Property Name	JPR Yokohama Nihon Odori Bldg.	Minami Azabu Bldg.
      (2) Asset Class	Office	Office
      (3) Sale Price	4,430 million	5,100 million
      (4) Appraisal Value	2,480 million	3,420 million
      (5) Planned Book Value	2,354 million	3,725 million
      (6) Planned Gain on Sale	1,703 million	1,201 million
      (7) Contract Date	November 28, 2025
      (8) Planned Sale Date	December 18, 2025 (65.0%) January 23, 2026 (35.0%)	January 9, 2026
      (9) Buyer	Domestic specific purpose company	Tokyo Tatemono Co., Ltd
      (10) Settlement Method	Lump-sum payment at the respective times of delivery above	Lump-sum payment at the time of delivery

      (Note 1) "Acquisition Price" excludes acquisition costs, property taxes, city planning taxes and consumption taxes etc.

      (Note 2) Amounts are rounded down to the nearest million yen.

      (Note 3) "NOI Yield" is NOI divided by the acquisition price and is rounded to the first decimal place. "NOI" is net operating income stated in the real estate appraisal report.

      (Note 4) "NOI Yield after Depreciation" is NOI after depreciation divided by the acquisition price and is rounded to the first decimal place. "NOI after Depreciation" for assets to be acquired are calculated by subtracting the depreciation expense equivalent amount calculated by TRIM based on the building ratio from the NOI, dividing this amount by the number of days in the year, and then multiplying by the number of business days in the relevant period. For assets to be disposed, the figure represents the actual value for June 2025 annualized.

      (Note 5) For the details of the loans which form part of the "Funding," we will announce again once they are decided.

      (Note 6) "Sale Price" excludes property taxes, city planning taxes, and consumption taxes etc. Regarding JPR Yokohama Nihon Odori Bldg., the sales prices are 1) 2,879 million yen for December 18, 2025 (65%), 2) 1,550 million yen for

      January 23, 2026 (35%).

      (Note 7) "Planned Book Value" indicates the assumed book value as of the planned sale date.

      (Note 8) "Planned Gain on Sale" represents the amount obtained by deducting the planned book value and estimated sale expenses from the Sale Price. A portion of the Planned Gain on Sale is expected to be internally retained as a Reserve for reduction entry by utilizing special tax measures.

   3. Additional Acquisition of GRAND FRONT OSAKA

      Grand Front Osaka is a large-scale mixed-use complex representing Osaka, directly connected to JR Osaka Station and located in close proximity to Osaka Umeda Station on the Hankyu, Hanshin lines and Umeda Station on the Osaka Metro lines. Currently, JPR holds a 4.9% co-ownership interest. As a result of this additional 4.6% co-ownership interest acquisition, from the sponsor, Tokyo Tatemono Co., Ltd. (the "Sponsor"), JPR's co-ownership interest will increase to 9.5%.

      
      
      

      GRAND FRONT OSAKA (Umekita Plaza and South Building) comprises Umekita Plaza, which is mainly composed of commercial establishments, and the South Building that houses offices and retail facilities. GRAND FRONT OSAKA (North Building) houses not only offices and commercial facilities but also a hotel and Knowledge Capital, a hub for industry-academia collaboration.

      The Umekita area where the property is located is positioned as the core project in Osaka City's growth strategy hub special zone initiative and was developed with a view to enhancing the Kansai metropolitan area's international competitiveness. The opening of the adjacent Grand Green Osaka and other nearby developments has further increased the area's competitiveness.

   4. Acquisition of FUNDES Kamata

      JPR will acquire from the Sponsor, an urban commercial property located 1-minute from Kamata Station on the JR Keihin Tohoku Line, the Tokyu Ikegami line and Tokyu Tamagawa line, facing the station rotary with excellent convenience and visibility.

      
      
      

      The area around Kamata Station East Exit features a concentration of public transportation and administrative functions, and, driven by station users, retail, dining and various service establishments are actively used, giving the area strong commercial vitality.

      The ten-story building houses restaurants on the lower floors and service tenants and clinics on the upper floors, enabling it to meet the needs of a broad customer base.

   5. Acquisition of Hotel Gracery Asakusa

      JPR will acquire from the Sponsor, a limited-service hotel located in Asakusa, the major tourist destination in Tokyo. In addition, this will be JPR's first acquisition of a hotel from the Sponsor.

      
      
      

      The property is favorably located, a 2-minute walk from Toei Subway Asakusa Line "Asakusa" Station, a 5-minute walk from Tokyo Metro Ginza Line "Asakusa" Station, and within walking distance to Kaminarimon Gate and the main hall of Sensoji Temple beyond, offering extremely high accessibility as a tourist hub.

      The hotel comprises 125 rooms (86 double rooms and 39 twin rooms) in total, and JPR expects the hotel to continue to actively capture inbound tourism demand going forward.

      The hotel operator, Fujita Kanko Inc. operates 60 facilities both in Japan and abroad and provides services that draw on its extensive operating track record and know-how.

   6. Sales of JPR Yokohama Nihon Odori Bldg. and Minami Azabu Bldg. (the "Properties to Be Sold")

      All Properties to Be Sold are over 30 years old. A comprehensive consideration of building age, tenant composition and the resulting possibility of a decline in profitability in future and other factors has led to the conclusion that selling the properties at a timing coinciding with the acquisition of high-quality properties from the Sponsor will better contribute to the construction of a stronger and more resilient portfolio.

2. Acquisition of GRAND FRONT OSAKA
   1. Details of Property for Acquisition

      1. GRAND FRONT OSAKA (Umekita Plaza and South Building) (Additional Acquisition)