CRE Logistics REIT to Sell Stake in LogiSquare Sayama-Hidaka, Acquire Land in Atsugi

CRE Logistics REIT announced on August 18 that it will gradually sell a 40.0% quasi-co-ownership interest in the trust beneficiary rights of the large-scale logistics facility "LogiSquare Sayama-Hidaka" in Hannō City, Saitama Prefecture, to SMFL MIRAI Partners Company, Limited

The sale price is JPY 7.6 billion. At the same time, the REIT will acquire from the same company the trust beneficiary rights of the "Atsugi Iiyama Minami Plant (land)" in Atsugi City, Kanagawa Prefecture, by purchasing 50.0% quasi-co-ownership interests in two stages. The planned acquisition price is JPY 5.423 billion.

Completed in May 2020, LogiSquare Sayama-Hidaka is a five-story, multi-tenant logistics facility with a gross floor area of approx. 22,303 tsubo (approx. 73,700 sq. ft.) and a leasable area of approx. 21,541 tsubo (approx. 71,200 sq. ft.). The property offers excellent highway access, located about 0.7 km from the Ken-O Expressway's Sayama-Hidaka Interchange.

The Atsugi Iiyama Minami Plant to be acquired is located about 8 km from the Ken-O Expressway's Ebina Interchange and about 7.2 km from the Tomei Expressway's Atsugi Interchange.

Key Facts

• Property Name: LogiSquare Sayama-Hidaka

  • Buyer: SMFL MIRAI Partners Company, Limited

  • Seller: CRE Logistics REIT, Inc.

  • Transaction Price: JPY 7.6 billion

  • Location: 12-1, Kubo, Ashikariba, Hannō City, Saitama Prefecture, and others

  • Nearest IC: Ken-O Expressway, Sayama-Hidaka IC, approx. 0.7 km

  • Completion: May 2020

  • Number of Floors: 5F

  • Gross Floor Area: approx. 22,303 tsubo (approx. 73,700 sq. ft.)

• Property Name: Atsugi Iiyama Minami Plant (land)

  • Buyer: CRE Logistics REIT, Inc. (50.0% quasi-co-ownership interest acquired in two stages)

  • Seller: SMFL MIRAI Partners Company, Limited

  • Transaction Price: JPY 5.423 billion

  • Location: 2476-10, Minami 3-chome, Iiyama, Atsugi City, Kanagawa Prefecture, and others

  • Nearest IC: Ken-O Expressway, Ebina IC, approx. 8 km / Tomei Expressway, Atsugi IC, approx. 7.2 km

  • Site Area: approx. 6,966 tsubo (approx. 23,000 sq. ft.)