The property, D Project Tan Duc 2, is a built-to-suit cold storage facility located in Long An Province. It was completed in September 2023 and is leased for 20 years from Oct 2023 to a tenant which is a group company of a Tokyo Stock Exchange-listed entity which specialises in cold chain logistics for food products.
Daiwa House Logistics Trust is expanding its presence outside Japan by acquiring a cold storage facility in Vietnam from its sponsor Daiwa House Industry for VND483 billion, or some $26.5 million.
The selling price is around 3% lower than the average independent valuation of VND498 billion.
