Bonyan REIT Fund — Capital/Financing Update 2021

Apr 28, 2021

Saudi Fransi Capital announces the occurrence of specific event related to Bonyan REIT Fund – The acquisition of an office tower

4347 · 28/04/2021 15:57:44 · Announcement #63077 · View on Saudi Exchange

Saudi Fransi Capital announces the occurrence of specific event related to Bonyan REIT Fund – The acquisition of an office tower

4347

BONYAN REIT

0.10 %

1442/09/16     28/04/2021 15:57:44

Element List	Explanation
Introduction	Saudi Fransi Capital in its capacity as the Fund Manager of Bonyan REIT Fund announces that the Fund has signed a Sale and Purchase Agreement for an office tower property on 15/09/1442H corresponding to 27/04/2021G
Description of the Event	The Fund has acquired a newly constructed office tower leased to a Government Entity for a period of three years. Salient terms of the transaction are as follows:

1. The purchase price of the property is SAR 99 million, which is financed by utilizing Fund’s existing loan facility.

2. The property is located in Sahafa District on Al-Olaya Street on a total land size spanning 3,330 square meters, with a total built-up area of 16,643.96 square meters and total GLA of 9,260 square meters.

3. The property is leased to a Government Entity under a 3-year lease agreement with annual rental payment of SAR 9 million starting August 2021.

4. The Fund will pay a brokerage fees in respect of this acquisition.

Further, we are pleased to inform that the title deed has been transferred as of Tuesday 15/09/1442H corresponding to 27/04/2021G and other legal formalities in respect of this acquisition will be completed in due course. The Impact Caused by the Event The financial impact of this transaction is expected to be positive on the Fund's results.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.