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Mitsui Fudosan Logistics inks ¥48.38B investment deal for 3 properties in Japan

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Mitsui Fudosan Logistics inks ¥48.38B investment deal for 3 properties in Japan

Mitsui Fudosan Logistics Park Inc. will purchase trust beneficiary interests in three logistics properties in Japan for an aggregate consideration of ¥48.38 billion.

The industrial-focused real estate investment trust intends to buy a 50% co-ownership interest in MFLP Prologis Park Kawagoe on Feb. 5 from Kawagoe Tokutei Mokuteki Kaisha for ¥14.80 billion and the entire stake in MFLP Hiroshima I property on March 2 from Mitsui Fudosan Co. Ltd. for ¥14.48 billion. It will also acquire a total of 80% co-ownership interest in MFLP Sakai from Sakai Chikkoyawata Tokutei Mokuteki Kaisha for ¥19.10 billion.

The four-story MFLP Prologis Park has a gross floor area of 117,337 square meters, while the four-story MFLP Hiroshima has a gross floor area of 68,427 square meters. The five-story MFLP Sakai has a gross floor area of 125,127 square meters.

As of Jan. 8, US$1 was equivalent to ¥108.87.