GLP Japan manages over US$18 billion AUM across four private equity funds and GLP J-REIT
. GLP recently established GLP Japan Development Partners III, the largest ever Japan-focused logistics private real estate fund.
Association for Real Estate Securitization, 2012, J-REIT
REPORT Vol.37, December 2012.
'We understand that this is the first J-REIT
ADR programme of this kind and we are pleased to offer US investors access to the company's shares via the ADR product,' said Akbar Poonawala, head of Global Equity Services (GES) at Deutsche Bank.
The overall pickup of the stock market and increase in property demand--starting with office space--has also driven the J-REIT
"Japan's real estate market has experienced strong funds inflow in recent years, thanks to the emergence of J-REITs
and private real estate funds.
Yoshiyuki Chosa, President of GLP Japan, said: GLP J-REIT
provides GLP with a long-term vehicle for capital recycling in Japan.
, as it's known, is an investment vehicle similar to a mutual fund that can make passive investments in real estate.
GLP, the leading global provider of modern logistics facilities, will sell four properties in Japan to GLP J-REIT
for JPY42.7 billion (US$420 million1).
The Tokyo market should benefit from capital infusions in the aftermath of last year's earthquake and a more robust J-REIT
is a J-REIT
, which listed its shares on Tokyo Stock Exchange (Real Estate Investment Trust Section) in June 2006, specializing in residential rental apartment property investments.
Description of Transferee Business Name: Fukuoka REIT Address of the Head Office: Canal City Business Center BLDG.,1-2-25 Sumiyoshi, Hakata, Fukuoka Representative: Masatoshi Matsuo, Executive Officer Total Investments: 49,167,800,000 yen Principal Business Description: Japanese Real Estate Investment Trust (J-REIT
) Capital Ties etc.
GLP has announced the sale of its 50% share of GLP-MFLP Ichikawa Shiohama to GLP J-REIT
for approximately US$151 million or a 4.5% cap rate.