Industrial & Infrastructure Fund Investment Corporation Acquires Two Logistics Properties from the Yamato Group

On March 19, 2026, Industrial & Infrastructure Fund Investment Corporation acquired two logistics properties from YAMATO TRANSPORT CO., LTD. and Yamato Auto Works Co.,Ltd. The total acquisition price was JPY 3.1 billion. This marks the first CRE transaction between the investment corporation and the Yamato Group, one of Japan’s leading logistics groups.

The acquired assets are IIF Nagoya Logistics Center II in Nagoya, Aichi Prefecture, acquired for JPY 1.5 billion, and IIF Shizuoka Susono Logistics Center in Susono, Shizuoka Prefecture, acquired for JPY 1.6 billion. Both properties were acquired on the premise that the existing tenants would vacate as part of the Yamato Group’s consolidation of operational bases. Industrial & Infrastructure Fund Investment Corporation plans to carry out renovation work and attract new tenants. After the renovations, the expected NOI yields are 5.6% for the Nagoya property and 6.6% for the Susono property.

In March 2025, the Yamato Group also transferred four properties, including its headquarters building, through sale-and-leaseback transactions. The sale of these logistics facilities is therefore seen as part of its asset-light strategy aimed at improving capital efficiency. As major operating companies such as Nissan, Sapporo Holdings, and Honda continue to sell real estate, acquisition opportunities for high-quality assets are increasing for J-REITs. Industrial & Infrastructure Fund Investment Corporation intends to use this acquisition as an opportunity to build a network with the Yamato Group and expand future CRE transactions.

Overview of the Acquired Properties

• Buyer:

  Industrial & Infrastructure Fund Investment Corporation

• Sellers:

  YAMATO TRANSPORT CO., LTD.; Yamato Auto Works Co.,Ltd.

• Acquisition date:

  March 19, 2026

IIF Nagoya Logistics Center II

• Acquisition price: JPY 1.5 billion

• Appraised value: JPY 1.77 billion

• Location: 401-1 Fujimae 5-chome, Minato-ku, Nagoya, Aichi Prefecture

• Nearest interchange: Approx. 2.6 km from the Tobishima-Kita IC on the Nagoya Daini Kanjo Expressway

• Completion: November 1985

• Structure: Steel-reinforced concrete structure, 4 stories above ground

• Total floor area: Approx. 3,490 tsubo

• Occupancy rate: 0% (vacated)

• Cap rate: 4.1%

IIF Shizuoka Susono Logistics Center

• Acquisition price: JPY 1.6 billion

• Appraised value: JPY 1.88 billion

• Location: 448-1 and others, Imozana Kubo, Imazato, Susono, Shizuoka Prefecture

• Nearest interchange: Approx. 1.5 km from the Susono IC on the Tomei Expressway

• Completion: June 2001

• Structure: Steel structure, 3 stories above ground with 2 basement levels

• Total floor area: Approx. 4,668 tsubo

• Occupancy rate: 100% (

  YAMATO TRANSPORT CO., LTD.

  will remain in occupancy until the end of October 2026)

• Cap rate: 4.5%