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Industrial & Infrastructure closes on ¥10.7B of property deals

Industrial & Infrastructure Fund Investment Corp. completed the acquisition of six of the 10 properties it agreed to buy in February in a ¥21.36 billion deal.

The Japanese industrial real estate investment trust completed the purchase of IIF Hiroshima Manufacturing Center in Hiroshima for about ¥1.61 billion, IIF Totsuka Manufacturing Center in Kanagawa for ¥2.30 billion, IIF Sapporo Logistics Center in Hokkaido for ¥2.48 billion, 40% co-ownership interest in IIF Itabashi Logistics Center in Tokyo for ¥686 million, and 25% co-ownership interest each in IIF Osaka Suminoe Logistics Center I and II in Osaka, for about ¥3.03 billion and ¥635 million, respectively.

The company expects to close on the remaining four properties, including IIF Hitachinaka Port Logistics Center in Ibaraki for almost ¥1.15 billion and IIF Koriyama Logistics Center in Fukushima for about ¥2.59 billion on March 9, and IIF Atsugi Manufacturing Center in Kanagawa for ¥4.94 billion and IIF Kobe Nishi Logistics Center in Hyogo for ¥1.96 billion on April 2 and March 29, respectively.

As of March 7, US$1 was equivalent to ¥106.17.