KK DaVinci Holdings fell by the daily limit in Osaka trading after the Japanese real-estate fund operator said it may not be able to get a loan extension on a building acquired from Hong Kong billionaire Richard Li.

The shares dropped 14% to 12,350 yen at the close of trading on the Hercules exchange in Osaka, the largest decline since 13 July.

KK DaVinci, which manages property assets worth more than 1 trillion yen ($11bn), said it was unlikely to reach an agreement with creditors to extend a loan secured by the Pacific Century Place building in central Tokyo. The company has been unable to sell the property at a “fair price” because of the downturn in the real-estate market, it said in a statement to the Tokyo Stock Exchange on 11 Sept.