Daiwa House Logistics Trust (SGX:DHLU) acquired DPL Gunma Fujioka, a freehold logistics property in Greater Tokyo, for 3.99 billion yen, a 23.4% discount to the independent valuation of 5.21 billion yen, according to a Monday filing on the Singapore Exchange.
The property, built in 2022, is leased to a Japanese unit of a major global consumer goods company. The acquisition is expected to raise Daiwa House Logistics' FY24 distribution per unit by 3.3% on a pro forma basis.
The deal lifts the company's total green-certified assets to 17 out of 19 and increases total solar capacity to 18.6 MWp.
The property's implied net property income yield of 5.8% exceeds Daiwa House Logistics' Japan portfolio average of 5.2%.