GLP J-REIT, GLP Capital Partners’s (GCP) Japanese real estate investment trust, has raised ¥31bn (€207.3m) to help fund recently announced acquisitions.

Earlier this month, GLP J-REIT agreed to acquire a 30% stake in GLP ALFALINK Sagamihara 4 from Aries GK for ¥19.4bn. It also agreed to buy GLP Soja III, GLP Fukuoka Kasuya, and GLP Okinawa Urasoe for a combined consideration of 38.88bn. The four assets were developed by the GLP J-REIT’s sponsor GLP Group.

At the time GLP J-REIT said the consideration will be paid by the proceeds from the issuance of new investment units, proceeds from borrowings and cash on hand.

The Japanese real estate investment trust said it has now raised ¥30bn via its global offering, adding that a third of the capital raised was contributed by high-net-worth investors, a first for GLP J-REIT and the market overall.

Yoshiyuki Miura, president of GLP Japan Advisors, the manager of GLP J-REIT, said: “We are delighted that our global offering has attracted substantial interest from a diverse range of investors, including notable institutional investors from Japan and abroad.

“We believe the newly established high-net-worth investor portion solidifies GLP J-REIT’s position as an industry leader and reaffirms our commitment to leading the J-REIT market through implementing innovative initiatives and seeking to enhance investor value by leveraging GLP Group’s extensive experience in developing and operating logistics real estate.”

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