Mitsubishi Estate Logistics REIT Investment (TYO:3481) has acquired an additional 16.7% stake in special purpose vehicle, MRB1 Godo Kaisha, for 192 million yen, according to its Tokyo bourse filing on Monday.
MRB1 Godo Kaisha owns Logicross Funabashi, a logistics facility in Chiba, Japan, developed by Mitsubishi Estate and fully leased to Nippon Express, with an occupancy rate of 100%.
The additional stake, which will be paid in a lump sum using cash on hand, will bring the REIT's total equity investment in the special purpose vehicle to 720 million yen.
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