GLP J-REIT to Acquire Three Logistics Facilities for JPY 40.7 Billion

GLP J-REIT announced on July 15, 2026, that it will acquire three logistics facilities located in Joso City, Ibaraki Prefecture; Ibaraki City, Osaka Prefecture; and Hiroshima City. The properties are "Marq Joso 2," "ALFALINK Ibaraki 2," and "Marq Hiroshima 2," with a total planned acquisition price of JPY 40.722 billion. All three were developed by the sponsor group, and the acquisition is scheduled for August 3.

"Marq Joso 2," completed in 2022, is a two-story build-to-suit logistics facility leased in its entirety by Muroo Co., Ltd. Located near the Joso Interchange on the Ken-O Expressway, the facility supports three temperature zones—frozen, chilled, and ambient—and is equipped with automated racking warehouses and material-handling equipment, serving as a wide-area distribution hub for food logistics.

"ALFALINK Ibaraki 2," completed in 2024, rises four stories above ground and is located approximately 6 km from the Suita Junction. It is currently leased in its entirety by Trancom Co., Ltd. as a logistics hub for the Kansai region, but features ramps connecting to the 1st and 2nd floors, allowing it to be used as a multi-tenant facility in the future.

"Marq Hiroshima 2," completed in 2023, is a five-story multi-tenant logistics facility that can be divided into four units of approximately 3,000 tsubo (approx. 106,700 sq. ft.) each. It is located approximately 2 km from both the Kannon and Yoshijima Interchanges on the Hiroshima Expressway Route 3. Two tenants, including Futaba Unyu Co., Ltd., occupy the building, which has a 100% occupancy rate. The facility features ramps connecting to the 1st and 3rd floors and drop-off berths that streamline loading and unloading.

The combined appraisal value of the three properties is JPY 44.1 billion, with the planned acquisition price approximately 7.7% below that figure. GLP J-REIT exercised a right of first negotiation obtained through a bridge scheme. Each property incorporates a CPI-linked rent clause, and the REIT expects to see revenue growth from rising rents. Following the acquisition, the portfolio will total approximately JPY 912.3 billion on an acquisition price basis, with the three properties accounting for approximately 4.5% of the total.

Comparison of Acquisition Terms and Returns for the Three Properties

Key Facts

• Buyer: GLP J-REIT

• Contract Date: July 15, 2026

• Planned Acquisition Date: August 3, 2026

• Total Planned Acquisition Price: JPY 40,722 million

• Total Appraisal Value: JPY 44,100 million

• Property Name: Marq Joso 2

• Acquisition Type: Real estate trust beneficiary interest

• Seller: Libra GK

• Location: 6 Musubimachi, Joso City, Ibaraki Prefecture

• Nearest Interchange: Immediately adjacent to Joso IC on the Ken-O Expressway

• Scheduled Acquisition Date: Aug. 3, 2026

• Planned Acquisition Price: JPY 12,029 million

• Appraisal Value: JPY 12,600 million (May 31, 2026, JLL Morii Appraisal Co., Ltd.)

• Appraisal NOI Yield: 4.0%

• Completion: March 2022

• Number of Floors: 2F (steel-frame construction)

• Area: Site Area approximately 12,450 tsubo (approx. 443,000 sq. ft.) / Gross Floor Area approximately 10,450 tsubo (approx. 371,800 sq. ft.)

• Major Tenant: Muroo Co., Ltd.

• Number of Tenants: 1

• Occupancy Rate: 100.0%

• Environmental Certification: CASBEE B+ Rank obtained

• Property Name: ALFALINK Ibaraki 2

• Acquisition Type: Real estate trust beneficiary interest

• Seller: Arc GK

• Location: 3-3 Minamikaki 3-chome, Ibaraki City, Osaka Prefecture

• Nearest Junction: Approximately 6 km from Suita Junction on the Meishin Expressway, Kinki Expressway, and Chugoku Expressway

• Scheduled Acquisition Date: Aug. 3, 2026

• Planned Acquisition Price: JPY 15,583 million

• Appraisal Value: JPY 17,700 million (May 31, 2026, Japan Real Estate Institute)

• Appraisal NOI Yield: 4.2%

• Completion: June 2024

• Number of Floors: 4F (steel-frame and reinforced concrete construction)

• Area: Site Area approximately 5,883 tsubo (approx. 209,300 sq. ft.) / Gross Floor Area approximately 11,930 tsubo (approx. 424,500 sq. ft.)

• Major Tenant: Trancom Co., Ltd.

• Number of Tenants: 1

• Occupancy Rate: 100.0%

• Environmental Certification: ZEB Ready / BELS 5-star rating obtained

• Property Name: Marq Hiroshima 2

• Acquisition Type: Real estate trust beneficiary interest

• Seller: Hiroshima Logistics GK

• Location: 2-15-26 Enami-Minami, Hiroshima City, Hiroshima Prefecture

• Nearest Interchange(s): Approximately 2 km from Kannon IC and Yoshijima IC on the Hiroshima Expressway Route 3

• Nearest Station: Approximately 1.4 km from Enami Station on the Hiroshima Electric Railway Line 6

• Scheduled Acquisition Date: Aug. 3, 2026

• Planned Acquisition Price: JPY 13,110 million

• Appraisal Value: JPY 13,800 million (May 31, 2026, Japan Real Estate Institute)

• Appraisal NOI Yield: 4.4%

• Completion: January 2023

• Number of Floors: 5F (steel-frame construction)

• Area: Site Area approximately 6,990 tsubo (approx. 248,700 sq. ft.) / Gross Floor Area approximately 13,911 tsubo (approx. 495,000 sq. ft.)

• Major Tenants: Futaba Unyu Co., Ltd. and one other company

• Number of Tenants: 2

• Occupancy Rate: 100.0%

• Environmental Certifications: CASBEE A Rank / ZEB / BELS 5-star rating obtained