Submitted by glpadmin1 on Tue, 07/06/2021 - 06:58

GLP J-REIT Raises JPY 28 billion Through First Accelerated Global Offering to International and Domestic Investors

GLP J-REIT Raises JPY 28 billion Through First Accelerated Global Offering to International and Domestic Investors

NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO ANY U.S. PERSONS OR TO ANY OTHER PERSONS IN ANY JURISDICTION IN WHICH SUCH PUBLICATION WOULD BE PROHIBITED BY APPLICABLE LAW

GLP J-REIT has successfully completed three public offerings over the last 12 months and achieved the highest external growth among logistics J-REITs

Tokyo and Singapore, 13 July 2021 – GLP today announced that Japanese real estate investment trust GLP J-REIT (TSE: 3281), managed by GLP Group, has completed its first accelerated global offering (“AGO”) to international and domestic investors, raising JPY 28 billion (offer price based, approximately $250 million) for the acquisition of four modern, well-located logistics assets in the Tokyo metropolitan area and the Greater Osaka area. The AGO is a first among J-REITs and attracted strong interest from high-quality Japanese and international investors.

The four assets together comprise a total leasable area of approximately 161,982 square meters (approximately 1.7 million square feet) and an occupancy rate of 99.8 percent. Following this acquisition – expected to be completed on 15 July 2021 – GLP J-REIT’s portfolio is expected to reach 86 properties with total acquisition price of JPY 788 billion (approximately $7.1 billion), making it amongst the largest logistics J-REITs.

Yoshiyuki Miura, president of GLP J-REIT, said “The stellar response for this accelerated global offering is a testament to the continued confidence of our investors. Over the last 12 months we’ve successfully completed three public offerings and achieved the highest external growth among logistics J-REITs. We will aim to continue leading the J-REIT market through implementing innovative initiatives and to maximize investor value through its best-in-class asset management services, recognized both in Japan and around the world, by continuing to harness GLP Group’s extensive experience in developing and operating logistics real estate.”

GLP J-REIT is included in the MSCI Global Standard Indexes, which is widely used by international fund houses for benchmarking global equities portfolios.

In the 2020 GRESB Assessment, GLP J-REIT received a GRESB 5 Star rating, which is the highest rating and recognizes industry leaders, and a GRESB Green Star for its achievements in environmental, social and governance performance. It was also recognized as Global Sector Leader and Asia Sector Leader in the Industrial-Listed sector, titles given to participants who achieved the highest GRESB Overall Score and who are within 1.0 point from the top performer.

This press release is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States or elsewhere. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”). Securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred to above will not be publicly offered or sold in the United States. The information in this press release may not contain, and you may not rely on this press release as providing, all material information concerning the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of GLP or its subsidiaries. This release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements include statements regarding the intent, belief and current expectations of GLP or its officers with respect to various matters. When used in this press release, the words "expects," "believes," "anticipates," "plans," "may," "will," "should," “intends” ”foresees,” “estimates,” “projects,” and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Similarly, statements that describe objectives, plans or goals also are forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events and speak only as of the date of this press release. GLP does not undertake to revise forward-looking statements to reflect future events or circumstances. No assurance can be given that future events will occur, that projections will be achieved, or that GLP’s assumptions are correct.

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