GLP Japan REIT has acquired seven modern, well-located logistics assets in the Tokyo metropolitan area and the Greater Osaka area. The acquisition comes after the firm completed a global offering of newly issued investment units, raising JPY 55.6 billion (offer price based, approximately $532 million).
The diversified portfolio of assets has a total leasable area of approximately 328,000 square meters (3.5 million square feet) and an occupancy rate of 100 percent.
The acquisition marks GLP J-REIT’s largest acquisition since its IPO in 2012 and places GLP J-REIT among the largest logistics J-REITs with a JPY 741.1 billion ($7.1 billion) portfolio. GLP J-REIT’s assets under management (AUM) has grown approximately 14 percent annually over the last five years, supported by asset acquisitions from GLP of approximately $4 billion.
Yoshiyuki Chosa, president of GLP Japan, said, “As the market leader and pioneer of modern logistics in Japan, we have devel
