Key Points
- The Manager has set out a schedule for the full repayment of the YK Shintoku Loan, with the intention of averting any foreclosure actions.
- The repayment schedule under the Repayment Plan is as follows:
- repayment of not less than JPY 2.0 billion (S$29.9 million) on 11 April 2011;
- repayment of approximately JPY 0.8 billion (S$12.0 million) between 12 April 2011 and 30 May 2011, through proceeds from the disposals of YK Shintoku’s properties, including those currently under negotiation or pending completion; and
- repayment of the balance amount on or before 31 May 2011.
- The Repayment Plan is currently being discussed and has not been agreed to by the lender.
- Saizen Reit Divests of Club House Kikugaoka
- Saizen Reit - Divestment of Johnan Building III and Wealth Meinohama
- Saizen Reit divests of Jewel Town Suehiro - 10 NOV 2010
- Saizen Divests Kamei Five from the property portfolio of YK Shintoku - 21 OCT 2010
- Saizen divests 3 properties - 14 OCT 2010
- Saizen Reit divests Villa Kaigancho - 8 OCT 2010
- Saizen completes divestment of Patios Ohashi - 30 SEP 2010
- Saizen divests four properties - 29 SEP 2010
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