Hazelview Securities, a cornerstone investor at the recent IPO of Daiwa House Logistics Trust, has cut its stake in the REIT.
According to a filing with the exchange, Hazelview on Jan 19 sold nearly 6.79 million units for around $5.5 million, which works out to an average of around 81 cents per unit.
The trust was offered at 80 cents per unit.
Hazelview Securities is part of Hazelview Investments, a US-based investor focusing on real estate.
With the sale, Hazelview is left with nearly 40.4 million units, or 5.98%, from nearly 47.2 units earlier, or 6.99%.
This wasn't the first time Hazelview sold. On Dec 15, it sold 157,800 units at an average of 80.9 cents each.
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In contrast, on Nov 26, Hazelview bought nearly 3.48 million units at 80.5 cents.
Daiwa House Logistics Trust closed Jan 20 at 82 cents.
