United Urban Investment : Notice Concerning Planned Tenant Change at the Properies (Nanzan Court Ichigokan and Nanzan Court Nigokan)

For Translation Purposes Only

January 27, 2017

For Immediate Release

United Urban Investment Corporation

Hitoshi Murakami Executive Officer (Securities Code: 8960)

Asset Management Company: Japan REIT Advisors Co., Ltd.

Ikuo Yoshida President and CEO

Inquiries: Kenichi Natsume Chief Financial Officer TEL: [phone]

Notice Concerning Planned Tenant Change at the Properies (Nanzan Court Ichigokan and Nanzan Court Nigokan)

Concerning "Nanzan Court Ichigokan" ("Ichigokan") and "Nanzan Court Nigokan" ("Nigokan", and this and Ichigokan are hereinafter collectively referred to as the "Properties"), United Urban Investment Corporation ("United Urban") hereby announces that Japan REIT Advisors Co., Ltd., the asset management company to which United Urban entrusts asset management services, has decided today the termination of the current lease agreement with the current tenant (which falls under the categories of "related parties, etc." under the Act on Investment Trusts and Investment Corporations of Japan) and the planned conclusion of the new lease agreement with the new tenant, as set forth below.

1. The Current Lease Agreement to be terminated

   (a) Name of the tenant	:	Marubeni Real Estate Management Co., Ltd.
   (b) Leased area	:	Total 5,467.25m2 (Ichigokan : 3,576.74 m2, Nigokan : 1,890.51 m2)
   (c) Area to be returned	:	Total 5,467.25m2 (Ichigokan : 3,576.74 m2, Nigokan : 1,890.51 m2)
   (d) The percentage of the area to be returned against each of the Properties' total leasable area	:	Ichigokan 100.0%, Nigokan 100.0%
   (e) The percentage of the area to be returned against United Urban's total leasable area	:	Total 0.40% (Ichigokan : 0.26%, Nigokan : 0.14%) (Note 1) (Note 2)
   (f) Date of termination (Planned)	:	March 31, 2017

   1.	The percentage is calculated on the area to be returned against the total leasable area of the properties owned by United Urban as of December 31, 2016 (1,350,374.48m2).
   2.	The percentage is rounded to the second decimal point.

   (Notes)

2. The New Lease Agreement to be concluded

   (a) Name of the tenant	:	Undisclosed (Note 1)
   (b) Leased area	:	Total 5,467.25m2 (Ichigokan : 3,576.74 m2, Nigokan : 1,890.51 m2)
   (c) The percentage of the leased area against each of the Properties' total leasable area	:	Ichigokan 100.0%, Nigokan 100.0%
   (d) The percentage of the leased area against United Urban's total leasable area	:	Total 0.40% (Ichigokan : 0.26%, Nigokan : 0.14%) (Note 2) (Note 3)

   (e) Date of conclusion of the new lease agreement (Planned)	:	March 1, 2017
   (f) Term of the new lease agreement	:	From April 1, 2017 to March 31, 2022

   1.	Not disclosed, due to unavoidable circumstances where the consent for the disclosure has not been obtained from the tenant.
   2.	The percentage is calculated on the leased area against the total leasable area of the properties owned by United Urban as of December 31, 2016 (1,350,374.48m2).
   3.	The percentage is rounded to the second decimal point.

   (Notes)

3. Outlook of Operating Condition

United Urban does not make any changes to the forecasts of financial results for the twenty-seventh fiscal period (period ending May 31, 2017) and the twenty-eighth fiscal period (period ending November 30, 2017) as the effect of the tenant change mentioned above is not significant.