Mitsubishi Estate Logistics REIT (TYO:3481) and LaSalle LOGIPORT REIT (TYO:3466) signed an agreement to explore the securitization of properties they co-own, according to a Thursday filing on the Tokyo Stock Exchange.
Under the plan, the two firms may transfer joint co-ownership interests in assets such as LOGIPORT Sagamihara, Hashimoto, Osaka Taisho, and Kawasaki Bay to a special purpose company (SPC), in which they could also invest.
The move would allow both REITs to realise capital gains while maintaining indirect asset exposure.
No final decision has been made, and there is no guarantee the transaction will proceed.
Price (JPY): $139200.00, Change: $+300, Percent Change: +0.22%
Comments