HEIWA REAL ESTATE REIT, Inc. (TSE:8966) signed an agreement to acquire trust beneficial interest in Foresight Hakata-Higashi from an individual for ¥880 million on December 26, 2016. The consideration is payable at the time of delivery and will be financed from cash in hand. On May 1, 2017, the name of Foresight Hakata-Higashi will be changed to HF HAKATA-HIGASHI RESIDENCE. For the year ended December 31, 2015, Foresight Hakata-Higashi reported total rent of ¥54.6 million. The deal is expected to close on January 23, 2017. Morii Appraisal & Investment Consulting Inc acted as appraiser for the property. HEIWA REAL ESTATE REIT, Inc. (TSE:8966) completed the acquisition of trust beneficial interest in Foresight Hakata-Higashi from an individual on January 23, 2017. As of May 1, 2017, Foresight Hakata-Higashi was renamed to HF HAKATA-HIGASHI RESIDENCE.