Japan Logistics Fund (TYO:8967) has agreed to acquire a logistics center and a land parcel for a combined 2.4 billion yen, with delivery scheduled for March 23.
The REIT will acquire the Tosu Logistics Center in Saga for 751 million yen and a land parcel in Yokohama's Torihama-cho for 1.65 billion yen from Ricoh Leasing, according to a Tokyo bourse filing on Tuesday.
The Tosu facility features a consumer price index (CPI)-linked lease clause enabling future rent growth, while the Yokohama land is leased to Fukuyama Transporting.
In a separate filing, the REIT secured loans totalling 4 billion yen from Resona Bank, The Norinchukin Bank, The Bank of Fukuoka and SBI Shinsei Bank, to partly fund the acquisition of the two assets.
A part of the loan will also be used to repay three existing debts amounting to 1.62 billion yen that are due on March 23.
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