Advance Residence Investment (JP:3269) has released an update.
Advance Residence Investment Corporation has announced its decision to enter into an interest rate swap agreement on a 1,300 million yen loan to mitigate the risk of interest rate fluctuations. The swap, with Nomura Securities Co., Ltd., involves paying a fixed rate of 0.9800% and receiving a floating rate based on 3 month yen TIBOR, fixing the loan’s interest rate at 1.1375%. As the largest residential J-REIT, Advance Residence Investment offers long-term stability and is managed by ITOCHU REIT Management Co., Ltd.
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