Nippon REIT Investment (TYO:3296)has set the interest rate on a 1 billion yen fixed-rate loan from Sumitomo Mitsui Trust Bank at 2.9364%, due July 2030, according to a Tokyo bourse filing on Tuesday.

In a separate disclosure, the REIT concluded interest rate swap agreements with Nomura Securities and Mizuho Bank on notional amounts of 1.3 billion yen and 2.3 billion yen, respectively.

The swaps start Aug. 20, 2026, fixing underlying loan costs at 2.2420% (Nomura, due Nov. 2028) and 2.4889% (Mizuho, due Nov. 2029).

Both transactions are part of the REIT's broader refinancing strategy disclosed on July 28, covering loans tied to its existing property portfolio.