GLP J-REIT, GLP’s Japanese real estate investment trust (J-REIT), has raised JPY28bn (€214m) to fund the acquisition of four logistics assets in Tokyo and Osaka.
GLP said this was the first accelerated global offering among J-REITs and had attracted strong interest from high-quality Japanese and international investors.
Yoshiyuki Miura, president of GLP J-REIT, said: “Over the last 12 months we’ve successfully completed three public offerings, and achieved the highest external growth among logistics J-REITs.”
Miura said the vehicle would continue to harness GLP’s group experience in developing and operating logistics real estate and would lead the J-REIT market in innovative initiatives.
The four assets comprise a total leasable area of approximately 161,982sqm, and are fully occupied.
The trust has now invested a total of JPY788bn on acquisition of assets.
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