Global One Real Estate Investment : GOR Announces Acquisition and Leasing of a Property (Tomatsu Building)

Press Release

17 November 2022

REIT Issuer:

Global One Real Estate Investment Corp.

Securities Code: 8958

Representative: Akio Uchida, Executive Director

Asset Manager:

Global Alliance Realty Co., Ltd.

Representative: Kazunori Yamauchi, President

Contact: Gen Yamazaki

General Manager

REIT Finance Department

Tel: +81-3-3262-1494

GOR Announces Acquisition and Leasing of a Property

(Tomatsu Building)

17 November 2022 - Global One Real Estate Investment Corp. ("GOR") announces today that Global Alliance Realty Co., Ltd. ("GAR"), the Asset Manager to which GOR entrusts the management of its assets, decided on the acquisition and leasing of the assets (Hereinafter, referred to as the "Acquisition") as outlined below.

1. Outline of the Acquisition

today, borrowings (*4) and funds on hand Hereinafter, the above asset for acquisition is referred to as the "Asset Acquired".

Note: This press release was prepared as a public announcement regarding acquisition and leasing of a property and was not prepared for the purpose of soliciting investments. Investors are asked to ensure that they read the prospectus for the issuance of new investment units and secondary offering of investment units, as well as the amendments thereto (if any), prepared by GOR before they invest and that they make decisions on investment at their or own discretion and responsibility.

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(*1) The acquisition price represents the prices described in the purchase agreement, excluding related expenses, settlement amount of property tax and city planning tax, consumption tax and local consumption tax.

(*2) For the transfer of Otemachi First Square, please refer to "GOR Announces Acquisition and Transfer of Properties (Acquisition of THE PEAK SAPPORO and Transfer of Otemachi First Square)"dated 24 October 2022. The same shall apply hereinafter.

(*3) For the issuance of new investment units, please refer to "GOR Announces Issuance of New Investment Units and Secondary Offering of Investment Units" dated today. The same shall apply hereinafter.

(*4) For the borrowings, please refer to "GOR Announces Obtainment of Debt Financing" dated today. The same shall apply hereinafter.

2. Reason for the Acquisition

GOR conducts the Acquisition as part of an asset replacement that involves the transfer of Otemachi First Square (transfer in segment over five periods) and the acquisition of THE PEAK SAPPORO, to ensure steady growth of its portfolio properties and stable revenues pursuant to the "Investment Target and Investment Policies" stipulated in its Articles of

Incorporation (Hereinafter, the Acquisition and the acquisition of THE PEAK SAPPORO and transfer of Otemachi First Square as detailed in "GOR Announces Acquisition and

Transfer of Properties (Acquisition of THE PEAK SAPPORO and Transfer of Otemachi First Square)" dated on 24 October 2022, are collectively referred to as the

"Replacement").

The Replacement was decided in consideration of expansion of the asset size and improvement of portfolio quality as detailed below, which will contribute to the

improvement of GOR's medium- to long-term unitholder value.

(1) Realizing expansion of asset size

The asset size based on acquisition price is expected to be 201.9 billion yen following the Replacement, achieving GOR's near-term target of 200 billion yen that had been under discussion.

1. Improvement of portfolio quality
   Following the Replacement, the building age of the portfolio will be rejuvenated by one year compared to before the Replacement. The Replacement will also improve both NOI yield and NOI yield after depreciation*, as well as spur geographical diversification.
   *NOI yield (*1): 4.3%→4.4%; NOI yield after depreciation (*1): 3.4%→3.6%

Note: This press release was prepared as a public announcement regarding acquisition and leasing of a property and was not prepared for the purpose of soliciting investments. Investors are asked to ensure that they read the prospectus for the issuance of new investment units and secondary offering of investment units, as well as the amendments thereto (if any), prepared by GOR before they invest and that they make decisions on investment at their or own discretion and responsibility.

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(*1) Asset Acquired and THE PEAK SAPPORO (Asset to be Acquired): "NOI yield" = "Appraisal NOI" / "Acquisition price"

"NOI yield after depreciation" = ("Appraisal NOI" - "Annual amount of depreciation and amortization expenses calculated using the straight-line method corresponding to the useful life") / "Acquisition price"

Other assets (including Otemachi First Square (Asset to be Transferred) before the Replacement: "NOI yield" = "Actual NOI for the Period ended September 2022" multiplied by 2 /

"Acquisition price"

"NOI yield after depreciation" = ("Actual NOI for the Period ended September 2022" － "Actual depreciation and amortization expenses for the Period ended September 2022") multiplied by 2 / "Acquisition price"

(*2) Figures are based on the information as of 30 September 2022 for the portfolio before the acquisition of THE PEAK SAPPORO (Asset to be Acquired) and the transfer of Otemachi First Square (Asset to be Transferred).

(*3) Figures are based on the information as of 30 September 2022 for the portfolio after the completion of the transfer in segment over five periods of Otemachi First Square (Asset to be Transferred). The same shall apply hereinafter.

(*4) Calculated based on the appraisal value as of 30 September 2022 for the Asset Acquired, as of 1 September 2022 for THE PEAK SAPPORO (Asset to be Acquired) and as of 30 September 2022 for other assets.

(*5) As of 30 September 2022. Building age for Otemachi First Square (Asset to be Transferred) is based on the year Otemachi First Square West Tower was built, which covers the majority part of the floor area subject to GOR's trust beneficial interests

The key determinant factors of the acquisition of the Asset Acquired include the following. Furthermore, the lessee of the Asset Acquired is deemed to comply with the tenant selection criteria of GOR described in the "Report on Management Structure and System of the Issuer of Real Estate Investment Trust Units and Related Parties" submitted on 29 June 2022.

Note: This press release was prepared as a public announcement regarding acquisition and leasing of a property and was not prepared for the purpose of soliciting investments. Investors are asked to ensure that they read the prospectus for the issuance of new investment units and secondary offering of investment units, as well as the amendments thereto (if any), prepared by GOR before they invest and that they make decisions on investment at their or own discretion and responsibility.

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1. District potential
   The leasing market in Nagoya enjoys robust demand for office leasing from a wide range of users, including branch offices and sales offices of companies that conduct economic activity in the Chubu area, head offices of manufacturing companies, and local IT related companies that support the manufacturing industry. The impact of the shift to remote working on the leasing market is limited since the remote working rate in Nagoya has been the lowest among the three major metropolitan areas since the outbreak of the COVID-19 pandemic.
   The area surrounding Fushimi Station, where the Asset Acquired is located, is a major business district in Nagoya with a concentration of offices of large companies and financial institutions. Stable rent demand can therefore be expected.
   From the viewpoint of office location, this area has a lower rent level than in the Meieki area on the eastern side of Nagoya Station, which is the largest office area in Nagoya, and can therefore be deemed to offer a good balance between location environment and rent level. Since large companies located around Fushimi Station tend to require certain number of parking for commercial vehicles, this area also has an advantage in terms of the capacity and fees of parking spaces compared to the Meieki area.
2. Location potential
   The Asset Acquired is located a five-minute walk from Fushimi Station on the Higashiyama and Tsurumai lines of the Nagoya Municipal Subway, offering excellent access to Nagoya Station and other major cities. Facing Nishiki-dori, the prime high street of Nagoya, with a frontage of approximately 65 meters, the property is deemed a location with high visibility and convenience.
   Further improvement of transportation convenience is also expected with the Linear Chuo Shinkansen scheduled to be launched between Tokyo and Nagoya in or after 2027.
3. Property specifications

The rental room specifications of the Asset Acquired include a typical rentable floor area of 390 tsubo, an effective ceiling height of 2,600 mm, a free access floor of 100 mm, and the layout is effectively a no-pillar structure. The space can also be divided into small lease floor space of a minimum of 43 tsubo. Also recognized as features that support property competitiveness are an individual air-conditioning system that allows for separate control of nine zones, easy layout capability in floor units as well as for the separate spaces, and drive-in parking space for 87 cars which can accommodate the needs of tenants that engage in sales activities by car which is a typical characteristic in Fushimi area.

Note: This press release was prepared as a public announcement regarding acquisition and leasing of a property and was not prepared for the purpose of soliciting investments. Investors are asked to ensure that they read the prospectus for the issuance of new investment units and secondary offering of investment units, as well as the amendments thereto (if any), prepared by GOR before they invest and that they make decisions on investment at their or own discretion and responsibility.

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3. Details of the Asset Acquired

1) Type of specified assets, its name and location, etc.

Note: This press release was prepared as a public announcement regarding acquisition and leasing of a property and was not prepared for the purpose of soliciting investments. Investors are asked to ensure that they read the prospectus for the issuance of new investment units and secondary offering of investment units, as well as the amendments thereto (if any), prepared by GOR before they invest and that they make decisions on investment at their or own discretion and responsibility.

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