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GLP J-REIT closes ¥84.85B purchase of 8 logistics properties in Japan

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GLP J-REIT closes ¥84.85B purchase of 8 logistics properties in Japan

GLP J-REIT completed Sept. 3, as expected, its ¥84.85 billion acquisition of trust beneficiary interests in eight Japanese logistics facilities from special purpose companies owned by its parent, GLP Pte. Ltd.

The industrial real estate investment trust used proceeds from a public offering and borrowings from a syndicate of banks to settle the transaction.

As of Aug. 31, US$1 was equivalent to ¥110.85.