Activia Properties, Inc. (TSE:3279), a fund managed by TLC Activia Investment Management, Inc., agreed to acquire unknown minority stake in Osaki Wiztower from Nippo Corporation (TSE:1881) for ¥10.7 billion on June 19, 2014. Activia Properties, Inc. (TSE:3279), a fund managed by TLC Activia Investment Management will acquire 4-11th floors of OSAKI WIZTOWER representing 7,122 sq. meters of the building and 7,171.46 sq meters of the land representing 31.25% ownership ratio in the land. The purchase consideration will be paid at closing. The deal will be funded by borrowings and own funds of Activia Properties. Activia Properties has borrowed ¥10 billion from a consortium of banks comprising Sumitomo Mitsui Trust Bank Ltd., Mitsubishi UFJ Trust and Banking Corporation, Mizuho Bank, Ltd. and The Bank of Tokyo-Mitsubishi UFJ Ltd for the acquisition.

The Board of TLC Activia Investment Management decided the deal. The planned date of sales contract and acquisition is June 24, 2014. There will be no effect from the acquisition on the management performance of Activia Properties for the fiscal period ending May 2014. Daiwa Real Estate Appraisal Co., Ltd. and Tokio Marine & Nichido Risk Consulting Co., Ltd. acted as appraisal agencies for the property. Sumitomo Mitsui Trust Bank Ltd. served as the intermediary.

Activia Properties, Inc. (TSE:3279), a fund managed by TLC Activia Investment Management, Inc. completed the acquisition of unknown minority stake in Osaki Wiztower from Nippo Corporation (TSE:1881) on June 24, 2014.