Industrial & Infrastructure Fund Investment (TYO:3249) said it acquired two logistics properties in Nagoya and Shizuoka for a combined 3.1 billion yen, according to a Thursday filing on the Tokyo Stock Exchange.
The properties - IIF Nagoya Logistics Center II and IIF Shizuoka Susono Logistics Center - were acquired from Yamato Transport and Yamato Auto Works.
Total investment after renovation is estimated at 1.93 billion yen for the Nagoya asset and 2.04 billion yen for the Shizuoka property, with unrealized gains projected at 410 million yen and 560 million yen, respectively.
The Nagoya facility is vacant, while the Shizuoka property is leased to Yamato Transport until October 2026.
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