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Mitsui Fudosan Logistics Park to pay ¥53.1B for stake in 6 properties

Mitsui Fudosan Logistics Park Inc. is acquiring a quasi co-ownership interest in six properties in Japan for a total of about ¥53.13 billion.

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MFLP Tsukuba
Source: Mitsui Fudosan Logistics Park Inc.

The company will issue 110,700 investment units for total expected proceeds of ¥33.20 billion to partly fund the transactions, with an overallotment option of a maximum of 5,526 units.

SNL Image

MFLP Inazawa
Source: Mitsui Fudosan Logistics Park Inc.

The transaction comprises five logistics facilities, including a 10% interest in MFLP Hino in Hino-shi, Tokyo, to be acquired for about ¥5.01 billion; a 40% interest in MFLP Tsukuba facility in Tsukubamirai-shi, Ibaraki, for about ¥3.51 billion; the MFLP Inazawa facility in Inazawa-shi, Aichi, for ¥16.20 billion; the MFLP Atsugi II facility in Isehara-shi, Kanagawa, for ¥13.10 billion; and the MFLP Fukuoka I facility in Sue-machi, Kasuya-gun, Fukuoka, for about ¥4.26 billion.

The transaction will also include an 80% interest in MFIP Inzai industrial property in Inzai-shi, Chiba, to be acquired for about ¥10.04 billion.