Blackstone: Sales contract with Daiwa House: Sale of 4 logistics facilities
Daiwa House:
Daiwa House has entered into an agreement to sell four logistics facilities owned by Daiwa House to a special purpose company (the Fund) managed and operated by Blackstone Group and Tosei Asset Advisors.
Daiwa House has also signed an agreement with Blackstone Singapore Pte. Ltd. regarding the development of logistics facilities and promotion of logistics facility investment in the US and Europe.
Purpose of sales contracts and agreements:
Daiwa House is focusing on business facilities centered on logistics facilities, and is strengthening the development of multi-tenant logistics facilities (*) to meet a wide range of tenant companies’ logistics needs and requests for early operation.
This sales contract:
In order to develop domestic logistics facilities developed by Daiwa House and promote the “DPL” brand, these four properties (total: approximately 55 billion yen) will be sold to the Fund.
Cooperation Agreement:
By exchanging information on market trends of this business, experience of both companies, networks, resources, etc., we aim to expand our company in the United States and Europe.
Release of Daiwa House Industry
https://www.daiwahouse.com/about/release/house/20200731131608.html
Blackstone Group Buys Four Japanese Logisitics Properties from Daiwa House Industry
Posted on 08/01/2020
The Blackstone Group
bought four logistics facilities in Japan for 55 billion Japanese yen.
The seller is Osaka-based Daiwa House Industry Co., Ltd.. Post-deal, the property management unit of Daiwa House Industry will still manage the properties.
The facilities are located in the Kanto region, which includes Tokyo, as well as the central Chubu region.
The actual buyer of the properties is an affiliate company of the Blackstone Group and Tosei Asset Advisers, manager of Blackstone’s Japanese multifamily assets.
In 2019, Blackstone bought a logistics portfolio from Singapore’s Mapletree Investments for 100 billion Japanese yen.
Daiwa House Industry is Japan’s largest homebuilder, specializing in prefabricated houses.
The company is also engaged in the construction of factories, shopping centers, health care facilities, the management and operation of resort hotels, golf courses and fitness clubs.
SWFI