Japan Residential Inv. Co. Ltd Completion of Portfolio Asset Sale (8404B)

TIDMJRIC

RNS Number : 8404B

Japan Residential Inv. Co. Ltd

08 April 2013

8 April 2013

Japan Residential Investment Company Limited

("the Company")

Completion of Portfolio Asset Sale - Branche Kugayama

Japan Residential Investment Company Limited (AIM: JRIC) is a closed-ended Guernsey registered company established to make and hold investments in residential property in Japan. The Company, its subsidiaries and entities in which it has a beneficial interest are referred to collectively as "the Fund".

The Fund completed the sale today as scheduled of Branche Kugayama - a 24 unit apartment building located in

Suginami Ward, Tokyo.   The sale contract was announced by the Company on 2 April 2013.

The sale price of Yen580 million (GBP3.8 million) excluding taxes and sales costs represents a 19.3% premium over the asset's latest valuation on 30 November 2012, and an initial net yield of 4.4% for the purchaser.

Enquiries:

 
 KK Halifax Management Limited 
  Manager                         Edward Barrow        +65 6593 8904 
 KK Halifax Asset Management                           +81 (0)3 5563 
  Investment Adviser              Alec Menikoff                 8771 
 Smith & Williamson Corporate 
  Finance Limited                 Azhic Basirov       +44 (0)20 7131 
  Nominated Adviser                David Jones                  4000 
 Liberum Capital Limited                              +44 (0)20 3100 
  Joint Broker                    Richard Bootle                2222 
 Westhouse Securities Limited     Alastair Moreton    +44 (0)20 7601 
  Joint Broker                     Darren Vickers               6100

This information is provided by RNS

The company news service from the London Stock Exchange

END

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