LaSalle secures $456m from global public offering of LaSalle Logiport REIT in Japan

LaSalle Investment Management has completed the global public offering of LaSalle Logiport REIT (LLR), raising newly issued equity capital of ¥48.5 billion ($456 million) on the back of strong demand from Japanese institutional trusts, regional banks, international institutional investors and retail investors in Japan. This marks the first global public offering of a Japanese real estate investment trust (J-REIT) since the start of the global COVID-19 pandemic in early 2020.

LLR, LaSalle’s logistics-focused J-REIT, will use the net proceeds of its latest public offering to acquire ownership interests in four logistics facilities: Logiport Kawasaki Bay and Logiport Shinmoriya. located in the Tokyo Area, as well as Logiport Amagasaki and Logiport Sakai, located in the Osaka Area. With these acquisitions, LLR’s portfolio consists of 18 assets, totaling 1.9 million square meters (20.4 million square feet), with total assets under management of ¥317.8 billion ($3 billion).