Daiwa House Logistics Trust Proposes $46 Million (US$32.5 Million) Maiden Acquisition In Japan (Straits Times)

September 22, 2022 – Daiwa House Logistics Trust (DHLT) is proposing to acquire a portfolio of two logistics facilities and a piece of freehold land in Japan for a total consideration of 4.68 billion yen (S$46 million).

In a filing on Wednesday, the real estate investment trust (Reit) manager estimates this to represent an 11.8 per cent discount to the properties’ average appraised value.

The Reit manager believes enlarging its portfolio with this acquisition will broaden DHLT’s earnings base and diversify its portfolio across various regions in Japan to mitigate potential concentration risk, as well as potential impacts to the portfolio from earthquakes.

“The strategically located quality portfolio is 100 per cent freehold and is fully occupied by high quality tenants including one of the largest integrated logistics companies in Japan. We believe that the proposed acquisition will enhance the quality of the existing portfolio,” commented Mr Takeshi Fujita, chief executive of the Reit manager.

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