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First, I will explain "Frontier Ebisu" which will be acquired.
We have already acquired 3 properties in Ebisu Area, where the one is located. Ebisu Area is within Greater Shibuya Area, which the sponsor considers it as one of the most significant area, and we are familiar with that area.
Though long years have passed since completed, it was renovated massively in 2008, becoming highly competitive.
The acquisition price of the property is ¥7,072 million with 4.4% of appraisal NOI yield.
Please turn over the next page.
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