GLP Japan Advisors Inc. to which GLP J-REIT entrusts management of its assets, has decided to acquire "GLP Kazo II" in the form of trust beneficiary interests. Agreement date: March 28, 2024. Property number: Tokyo-52.

Location: Kazo, Saitama. Scheduled acquisition date: April 1, 2024. Planned acquisition price: ¥7,700 million.

Seller: LOGISTEED Ltd. Settlement method: Pay in a lump sum upon delivery. The highlights of the Asset to be acquired are: GLP Kazo II: Located 2.0 km from Kazo IC on the Tohoku Expressway, it is one of a prime location to have hub logistics facility in eastern Japan to cover both Greater Tokyo area and northeast part of Japan. Hub facility for medical product distribution complying with Good Distribution Practice (GDP) guideline established by the Ministry of Health, Labor and Welfare which is to secure quality of medical products such as proper temperature control in facility.

Implemented proper temperature control, strict security management, seismic isolation structure, and private power generation system which supports Business Continuity Plan (BCP) for medical-related end user. Constructed in 2021 by LOGISTEED, a major 3PL company, for its own use as a core facility for medical product operations covering eastern Japan. Long-term stable operation is expected with 12-year lease term which CPI clause are implemented to capture rent increase opportunity during lease period in case of inflation.

Land area: 29,874.61 m2. Zoning: Urbanization control area. Construction /No.

of floors: A four-story steel-framed alloy plating building. Gross floor area 31,707.13 m2. Use: Warehouse.

Form of ownership: Ownership.