Mitsui Fudosan LP buys Osaka, Saitama logistics facilities for ¥77bn and other APAC REIT news

Tokyo-listed Mitsui Fudosan Logistics Park has agreed to buy two logistics facilities in Osaka and Saitama from Saito Tokutei Mokuteki Kaisha and its sponsor Mitsui Fudosan for ¥77.4bn (~US$737m).

Under the deal, MFLP will pay ¥58.9bn for the MFLP Ibaraki property in Ibaraki, Osaka, and ¥18.5bn for the MFLP Kawaguchi I asset in Kawaguchi, Saitama.

MFLP Ibaraki

The MFLP Ibaraki property is a six-storey rampway logistics park with total leased area of 208,699 sq.m. that is suited for deliveries between regional cities, mainly in the northern part of Osaka.

The MFLP Kawaguchi I asset is a four-level slope-type logistics park with proximity to ring roads 7 and 8, which circle the Tokyo area and provide efficient access to central Tokyo and the central part of the Saitama area.

Mitsui Fudosan Logistics Park shares closed 1.50% higher at ¥540,000 on Wednesday.

IndexChangeValue at close
S&P/ASX 200 A-REIT+1.50%1,317.80
S&P/ASX 200
+1.04% 5,956.10
FTSE ST REITS +0.57%857.57
STI+0.78% 2,505.15
Tokyo Stock Exchange REIT
+1.27%1,739.13
Nikkei 225
+0.09% 23,475.53
Hang Seng REIT +0.16%5,658.67
Hang Seng-0.03% 24,725.63

Charter Hall fund secures A$300m in new financing

Charter Hall Exchange Investment Trust, a fund co-owned by ASX-listed Charter Hall Long WALE REIT, has secured A$300m in new 10-year financing.

The 10-year medium term notes have a fixed coupon of 2.32% and will mature in September 2030.

The fund said the proceeds would be used to refinance its existing senior debt facility, increasing its average weighted look through debt maturity from 3.7 years to 4.2 years.

CHEIT owns a portfolio of 36 telecommunication exchange properties leased to Australian telco Telstra on NNN leases with a WALE of 20.1 years.

Commonwealth Bank was the sole lead manager for the transaction.