GLP J-REIT Raises US$532 Million from Global Offering, Makes Largest Acquisition Since IPO
GLP J-REIT is one of the largest logistics J-REITs with a US$7.1 Billion AUM portfolio
Tokyo and Singapore, 14 December 2020 – GLP today announced that on 7 December 2020, GLP Japan Real Estate Investment Trust (“GLP J-REIT”) (TSE: 3281) completed a global offering of newly issued investment units, raising JPY 55.6 billion (offer price based, approximately US$532 million) to acquire seven modern, well-located logistics assets in the Tokyo metropolitan area and the Greater Osaka area. The diversified portfolio of assets has a total leasable area of approximately 328,000 sq m (approximately 3.5 million sq ft) and an occupancy rate of 100 percent. The acquisition was completed on 11 December 2020.
This acquisition marks GLP J-REIT’s largest acquisition since its IPO in 2012 and places GLP J-REIT amongst the largest logistics J-REITs with a JPY 741.1 billion (approximately US$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 US$4 billion.
Yoshiyuki Chosa, president of GLP Japan, said “As the market leader and pioneer of modern logistics in Japan, we have developed a strong track record and continue to see strong interest from both domestic and international investors in GLP’s core real estate funds. We are believers in the long-term potential of the Japanese logistics market and continue to see strong fundamentals which are driven by domestic consumption-led growth, e-commerce and supply chain modernization.”
Yoshiyuki Miura, president of GLP Japan Advisors Inc. said “This offering represents another significant milestone for GLP J-REIT. In 2020 GLP J-REIT raised approximately US$737 million of capital and focused on executing our expansion and growth strategies to strengthen its position as a market leader in the J-REIT market.”
GLP J-REIT is included in the MSCI Global Standard Indexes, which is widely used by international fund houses for benchmarking global equities portfolios.
In the 2020 GRESB Assessment, GLP J-REIT received a GRESB 5 Star rating, which is the highest rating and recognizes industry leaders, and a GRESB Green Star for its achievements in Environmental, Social and Governance (“ESG”) performance. It was also recognized as Global Sector Leader and Asia Sector Leader in the Industrial-Listed sector, titles given to participants who achieved the highest GRESB Overall Score and who are within 1.0 point from the top performer.
GLP is the market leader and largest developer of logistics real estate in Japan with US$20 billion AUM in private real estate funds and a best-in-class REIT.
GLP is a leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies. Our combined investing and operating expertise allows us to create value for our customers and investors. We operate across Brazil, China, Europe, India, Japan, the U.S. and Vietnam and have US$97 billion in assets under management in real estate and private equity funds. Learn more at glp.com/global
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