Strategic acquisition in Japanโs logistics market
KKRโs Japan-listed Industrial & Infrastructure Fund (IIF) is acquiring a four-story warehouse under construction in Hyogo prefecture, near Osaka, Japan, from Logisteed for JPY 9.24 billion ($66 million). The deal comes at an 8.5% discount to its July appraisal value and is expected to close in January 2025. Logisteed will lease back the 33,387 sqm facility for 30.2 years, with rent indexed to inflation, ensuring stable income.
Collaboration on medical logistics
Developed by Daiwa House, the logistics center will target medical shipments. The property is projected to generate JPY 388 million annually, with a 4.2% NOI yield. This deal is part of KKRโs broader strategy following its 2023 acquisition of Logisteed, formerly Hitachi Transport System. The transaction strengthens KKRโs footprint in Japanโs logistics sector, known for its 99% occupancy rate.
Expanding KKRโs real estate portfolio
KKRโs strategic investments, including its $3.5 billion portfolio of logistics, manufacturing, and infrastructure assets, demonstrate its aggressive expansion in Japan. Following a $2 billion acquisition of IIFโs manager in 2022, KKR continues to build its presence in this high-demand sector, further fueling Japanโs robust real estate growth.
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