Orix JREIT (TYO:8954) has secured a new 3 billion yen loan from three Japanese banks, alongside a prepayment of 2 billion yen in existing loans.

The new 3 billion yen borrowings will fund the acquisition of the Tenjin North Front Building and refinance existing obligations, according to a Tokyo bourse filing on Thursday.

Of the amount, 1 billion yen is a sustainability-linked loan provided by The Higo Bank, while the remaining 2 billion yen will be equally disbursed by The Hyakugo Bank, and The Ogaki Kyoritsu Bank.

Separately, the REIT will take on a prepayment of 2 billion yen, reducing short-term loans from 10.5 billion yen to 8.5 billion yen.

After these transactions, total interest-bearing liabilities will increase by 1 billion yen to 359.7 billion yen, while the loan-to-value ratio remains stable at 47.6%.