GLP J-REIT raises $250m through first accelerated global offering

GLP announced that Japanese real estate investment trust GLP J-REIT (TSE: 3281), managed by GLP Group, has completed its first accelerated global offering (AGO) to international and domestic investors, raising JPY 28 billion ($250 million) for the acquisition of four modern, well-located logistics assets in the Tokyo metropolitan area and the Greater Osaka area. The AGO is a first among J-REITs and attracted strong interest from high-quality Japanese and international investors.

The four assets together comprise a total leasable area of approximately 161,982 square meters (approximately 1.7 million square feet) and an occupancy rate of 99.8 percent. Following this acquisition — expected to be completed on July 15, 2021 — GLP J-REIT’s portfolio is expected to reach 86 properties with total acquisition price of JPY 788 billion ($7.1 billion), making it among the largest logistics J-REITs.

Yoshiyuki Miura, president of GLP J-REIT, said, “The stellar response for