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LaSalle LOGIPORT REIT To Sell Four Logistics Properties for JPY 29.59 Billion

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LaSalle LOGIPORT REIT To Sell Four Logistics Properties for JPY 29.59 Billion

LaSalle LOGIPORT REIT To Sell Four Logistics Properties for JPY 29.59 Billion

LaSalle LOGIPORT REIT decided on September 18, 2026, to sell trust beneficiary interests in four logistics facilities for a total of JPY 29.59 billion. The agreements were signed the same day, and the REIT expects a total gain on sale of JPY 5.645 billion.

Logiport Kashiwa Shonan in Kashiwa, Chiba Prefecture, will be sold for JPY 11.02 billion on December 18, 2026. The appraisal NOI yield on the sale price is 4.1%. A single tenant occupies the entire leasable area of approximately 12,300 tsubo (approx. 437,700 sq. ft.) but is scheduled to vacate on April 30, 2027, upon expiration of its fixed-term building lease. The REIT decided to sell the property to reduce the risk of lost income from the tenant's departure.

The remaining three properties will be sold together to the same domestic business company. Inuyama Logistics Center in Inuyama, Aichi Prefecture, will be delivered on September 30, 2026; Logiport Sakai Minamijimacho in Sakai Ward, Sakai, Osaka Prefecture, on May 31, 2027; and Logiport Sakai Chikkoshinmachi in Nishi Ward of the same city on September 30, 2027. The scheduled sale price for the three properties totals JPY 18.57 billion, equal to their combined appraisal value. The transaction is a bulk sale of four properties that also includes Urawa Misono Logistics Center, held by the sidecar fund LRF3.

The sale proceeds will be used to buy back the REIT's own investment units. The sixth buyback program, resolved the same day, is capped at JPY 10 billion and 71,500 units, equivalent to 4.3% of total units outstanding as of the end of the August 2026 fiscal period. The REIT set its target purchase price at a NAV multiple in the 0.9x range. With the unit price trading below the value of its real estate holdings, the REIT judged that selling properties to buy back units offers higher investment efficiency. Buybacks through the sixth program are expected to total JPY 41 billion and 280,388 units, and the REIT will cancel units equivalent to 15.0% of total units outstanding as of the end of the August 2023 fiscal period.

Disposition Property Overview 1 — Logiport Kashiwa Shonan

  • Seller: LaSalle LOGIPORT REIT
  • Buyer: Undisclosed (domestic corporation)
  • Asset to Be Sold: Trust beneficiary interest in real estate
  • Scheduled Sale Price: JPY 11.02 billion
  • Book Value: JPY 8.891 billion
  • Gain on Sale: JPY 2.123 billion
  • Appraised Value: JPY 11.0 billion, by Tanizawa Sogo Appraisal Co., Ltd. as of February 28, 2026
  • Appraisal NOI Yield: 4.1%
  • Agreement Date: September 18, 2026
  • Scheduled Sale Date: December 18, 2026
  • Location: 2-17-1 Oshimada, Kashiwa, Chiba Prefecture
  • Use: Warehouse
  • Ownership: Ownership (land and building)
  • Leasable Area: Approximately 12,300 tsubo (approx. 437,700 sq. ft.)
  • Number of Tenants: 1
  • Occupancy: 100.0%

Disposition Property Overview 2 — Three-Property Package Transaction

  • Transaction Terms
    • Seller: LaSalle LOGIPORT REIT
    • Buyer: Undisclosed (the same domestic business company)
    • Asset to Be Sold: Trust beneficiary interest in real estate
    • Scheduled Sale Price: JPY 18.57 billion (total for the three properties; individual prices undisclosed)
    • Book Value: JPY 15.04 billion (total for the three properties)
    • Gain on Sale: JPY 3.522 billion (total for the three properties)
    • Agreement Date: September 18, 2026
    • Transaction Scope: Bulk sale of four properties including Urawa Misono Logistics Center, held by the sidecar fund (LRF3)
  • Property Name: Inuyama Logistics Center
    • Scheduled Sale Date: September 30, 2026
    • Appraised Value: JPY 3.47 billion, by Tanizawa Sogo Appraisal Co., Ltd. as of February 28, 2026
    • Location: 1-6 Aza Kitahiratsuka, Inuyama, Aichi Prefecture
    • Use: Warehouse
    • Ownership: Ownership (land and building)
    • Leasable Area: Approximately 3,140 tsubo (approx. 111,700 sq. ft.)
    • Number of Tenants: 1
    • Occupancy: 100.0%
  • Property Name: Logiport Sakai Minamijimacho
    • Scheduled Sale Date: May 31, 2027
    • Appraised Value: JPY 9.88 billion, by Japan Real Estate Institute as of February 28, 2026
    • Location: 5-162 Minamijimacho, Sakai Ward, Sakai, Osaka Prefecture
    • Use: Warehouse
    • Ownership: Ownership (land and building)
    • Leasable Area: Approximately 9,280 tsubo (approx. 330,200 sq. ft.)
    • Number of Tenants: 1
    • Occupancy: 100.0%
  • Property Name: Logiport Sakai Chikkoshinmachi
    • Scheduled Sale Date: September 30, 2027
    • Appraised Value: JPY 5.22 billion, by Tanizawa Sogo Appraisal Co., Ltd. as of February 28, 2026
    • Location: 2-7-13 Chikkoshinmachi, Nishi Ward, Sakai, Osaka Prefecture
    • Use: Warehouse
    • Ownership: Ownership (land and building)
    • Leasable Area: Approximately 6,180 tsubo (approx. 219,900 sq. ft.)
    • Number of Tenants: 1
    • Occupancy: 100.0%

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