“We are pleased to expand the REIT’s footprint into Japan, our second overseas market, with the acquisition of ESR Sakura DC, a freehold asset that will ride on the strong logistics growth trends in the Greater Tokyo area,” says Adrian Chui, chief executive officer and executive director of the REIT.
The manager of ESR-LOGOS REIT, on Aug 29, announced the proposed acquisition of 100% of the trust beneficiary interest in ESR Sakura distribution centre for a purchase consideration of approximately $183.5 million, inclusive of rental support.
The distribution centre is a five-storey modern logistics asset located in Sakura City, Chiba Prefecture, Tokyo. The transaction is expected to be accretive to the REIT’s distribution per unit (DPU) of up to 2.9%, with funding already secured.
