LaSalle LOGIPORT REIT : Notice Concerning Acquisition and Leasing of Domestic Real Estate Trust Beneficiary Interests and Redemption of Preferred Shares of Nanko Property TMK

April 14, 2021 at 02:23 am EDT

This English translation of the original Japanese press release is provided for information purpose only. The Japanese

press release should be referred to as the original and, in the event of any discrepancy between this translation and

the Japanese original, the original shall prevail in all respects.

April 14, 2021

To All Concerned Parties

REIT Issuer:

LaSalle LOGIPORT REIT

1-11-1, Marunouchi, Chiyoda-ku, Tokyo

Representative: Toshimitsu Fujiwara, Executive Director

(Securities Identification Code: 3466)

Asset Manager:

LaSalle REIT Advisors K.K.

Representative: Toshimitsu Fujiwara, President and CEO

Contact: Daisuke Ishida, Director, General Manager of Finance &

Management Department

TEL: +81-3-6367-5600

Notice Concerning Acquisition and Leasing of

Domestic Real Estate Trust Beneficiary Interests and Redemption of Preferred Shares of

Nanko Property TMK

LaSalle REIT Advisors K.K. ("LRA" or "Asset Manager"), to which LaSalle LOGIPORT REIT ("LLR") has entrusted the management of its assets, announces that LRA has resolved to acquire and lease an asset (the "Acquisition") as outlined below under "1. Acquisition and Redemption Overview" (the "Intended Acquisition Asset") and will receive a redemption (the "Redemption") of the preferred shares (the "Preferred Shares") in Nanko Property TMK (the "TMK") of which the underlying principle asset is LOGIPORT Osaka Bay as described below.

1. Acquisition and Redemption Overview

Acquisition Overview

					Intended			Post-
	Property		Location		Acquisition	Appraisal Value	NOI
			depreciation
Area	Asset name	(city or ward,	Seller	Price	(million yen)	Yield (%)
number	Yield (%)
		prefecture)		(million yen)	(Note 2)	(Note 3)
				(Note 4)
					(Note 1)

Osaka		LOGIPORT	Osaka-	Nanko
Osaka-7	city,	Property	40,000	42,700	4.4	3.6
area	Osaka Bay
	Osaka	TMK

Disclaimer: This press release does not in any way constitute any part of an offering of securities for investment. This announcement is prepared for the public disclosure of acquisition and leasing of trust beneficiary interests in domestic real estate, and redemption of preferred shares of Nanko Property TMK by LLR and has not been prepared for the purpose of soliciting investment, within or outside of Japan. Additionally, this press release is not an offer of securities for sale in the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. No offering or sale of securities in the United States will be made in connection with the above-mentioned transactions. This press release is not for publication, distribution or release, directly or indirectly in or into the United States of America.

(1)	Purchase	& Sale	: April 14,	2021
	agreement date
(2)	Intended	acquisition	: April 30,	2021 (delivery and settlement date) (Note 6)
	date
(3)	Seller		: Please refer to "4. Seller Profile" below

(4)	Funds for acquisition	: Net proceeds from the issuance of new investment units as resolved at LLR's Board of
		Directors meeting held on April 14, 2021, borrowings (Note 7) and cash on hand.
(5)	Settlement method	: To be paid in a lump sum on the intended acquisition date (see (2) above)

Notes:

"Intended Acquisition Price" is the price to be paid for the Intended Acquisition Asset pursuant to the relevant Trust Beneficiary Interests Purchase & Sale Agreement (excluding national and local consumption taxes, and expenses such as transaction fees, and is rounded down to the nearest million yen).
With respect to the appraisal evaluation of the property, Tanizawa Sogo Appraisal Co., Ltd. was commissioned to appraise the value of the Intended Acquisition Asset. "Appraisal Value" is based on the appraisal value from the relevant appraisal report as of February 28, 2021.
"NOI Yield" is the ratio of Appraisal NOI (Note 5) divided by the Intended Acquisition Price, rounded to the first decimal place.
"Post-depreciationYield" is defined as Appraisal NOI minus the estimated depreciation expense calculated by the Asset Manager, divided by the Intended Acquisition Price, rounded to the first decimal place.
"Appraisal NOI" is the stabilized net operating income (an amount equal to operating income after deducting operating expenses) based on a direct capitalization method indicated in the relevant appraisal report prepared by Tanizawa Sogo Appraisal Co., Ltd. which represents revenue before deducting depreciation expense. Appraisal NOI is different from NCF (net cash flow), to which interests derived from security deposits, etc. are added back, and from which capital expenditures are deducted.
"Intended acquisition date" is subject to change as agreed upon between LLR and the seller in accordance with Trust Beneficiary Interests Purchase & Sale Agreement.
LLR will make an announcement regarding the borrowing of funds as soon as financing decisions are made.

Redemption Overview

In conjunction with the press release announced today titled "Notice Concerning Issuance of New Investment Units and Secondary Offering of Investment Units" coupled with the acquisition of the real estate trust beneficiary interests in LOGIPORT Osaka Bay via exercising LLR's preferential right of first negotiation, LLR will receive a full redemption attributed to the Preferred Shares (Note 1) (Note 2) and LLR will receive dividends from the Preferred Shares, as a result, LLR will receive a Net Gain on Redemption of 519 million yen (expected amount) (Note 3). LOGIPORT Osaka Bay is a deal which will realize upside from the Preferred Shares, by way of real estate value created through the lease-up of the property with the support of the LaSalle Group. Moreover, through the disposition of LOGIPORT Osaka Bay by the TMK, LLR intends to realize approximately 535 million yen in dividends received from the Preferred Shares in the fiscal period ending August 31, 2021 (Note 4).

Notes:

1. Regarding the Preferred Shares, please refer to the press release titled "Notice regarding Acquisition of Asset (Preferred Shares

of Nanko Property TMK)" dated December 18, 2019 for further details.

The redemption of the Preferred Shares is scheduled to take place by the end of the fiscal period ending August 31, 2021.
"Net Gain on Redemption" means the amount of dividends from the Preferred Shares which is expected to be paid from the TMK minus relevant costs after the anticipated acquisition of LOGIPORT Osaka Bay by LLR. The dividend amount is calculated in anticipation of selling cost and repair cost, however if such cost differs from the anticipation, the amount of dividends may differ and the Net Gain on Redemption may also differ.
Loss on the redemption of the Preferred Shares of 15 million yen will be recorded as non-operating expense for the fiscal period ending August 31, 2021.

2. Rationale for the Acquisition

The Intended Acquisition Asset is "large-scale and high specification" modern logistics facility located in the place suitable for logistics facilities within Osaka area, and is a property that meets LLR's criteria to be considered "Prime Logistics." The Asset Manager has decided the Acquisition based on its judgment that the Intended Acquisition Asset would generate stable revenues for mid- to long-term or is expected to realize the upside in the future.

Through the acquisition of the Intended Acquisition Asset, LLR will continue to expand its asset size by acquiring high quality properties to further diversify its portfolio, which will contribute towards the enhancement of unitholders' value.

In addition, LLR selected tenants based on LLR's tenant selection criteria guideline (detailed in the "Report on management systems of issuers of real estate investment trust securities" dated November 30, 2020 and the "Securities report" dated November 27, 2020) and after its confirmation that all of the tenants meet the necessary standards on these guidelines.

Further details related to the features of the Intended Acquisition Asset are as follows.

Osaka-7 LOGIPORT Osaka Bay

Location with strong traffic convenience as a delivery hub for major consumption areas surrounding Central Osaka: located in the Osaka Bay area, a core logistics district in Kansai region in proximity to the Port of Osaka and enjoying good access to major arterial roads.
A multi-tenant facility with a central driveway with leasable area per floor of approximately 10,000 tsubo, equipped with highly-functional specifications that meet recent tenant needs, including double ramp-ways that allow access to each floor as well as effective ceiling height and floor loading capacity.

3. Description of Intended Acquisition Asset

(1) Overview of Intended Acquisition Asset

Tables (2) through (4) below provide an overview of the Intended Acquisition Asset (the "Individual Property Tables" in 3). When referring to the Individual Property Tables, please refer to the following explanation for terms used.

In principle, unless otherwise noted, all information included in the tables is as of February 28, 2021.

Explanation on the section
- "Use" column indicates the primary building's type of use stated in the property registry.
Explanation on "Overview of specified asset"
- "Type of specified asset" represents the category of the Intended Acquisition Asset upon acquisition that is planned on the date of this press release.
- "Intended acquisition date" represents the purchase date of the trust beneficiary interest of the Intended Acquisition Asset, as shown in the relevant Trust Beneficiary Interests Purchase & Sale Agreement. "Intended acquisition date" is subject to change as agreed upon between LLR and the seller in accordance with Trust Beneficiary Interests Purchase & Sale Agreement.

"Intended Acquisition Price" represents the summary of the trust beneficiary interest of the Intended Acquisition Assets, as shown in the relevant Trust Beneficiary Interests Purchase & Sale Agreement (excluding national and local consumption taxes, and expenses such as transaction fees, and is rounded down to the nearest million yen).
"Overview of trust beneficiary interest" includes the entrustment date, trustee and trust maturity date of the Intended Acquisition Asset upon acquisition that is planned on the date of this press release.
"Location" of "Land" represents the displayed address of the property. If there is no displayed address, the building address in the property registry is shown (If there are multiple addresses shown on the property registry, then one address will be chosen).
"Land area" of "Land" is based on the description in the land registry, and the land area of some sites may not match the current status.
"Zoning" of "Land" represents the types of districts listed in Article 8, Paragraph 1, Item 1 of the City Planning Act (as amended).
"SCR" of "Land" represents the ratio of the building area of buildings to the site area, as depicted in Article 53 of the Building Standards Act (as amended), indicating the upper limit of the site coverage ratio ("SCR") as determined in city planning in accordance with the zoning.
"FAR" of "Land" represents the ratio of the total floor area of buildings to the site area, as depicted in Article 52 of the Building Standards Act, indicating the upper limit of the floor area ratio ("FAR") as determined in city planning in accordance with the zoning.
"Form of ownership" of "Land" and "Building" represents the type of rights owned by the trustee with respect to the Intended Acquisition Assets.
"Presence or absence of pledged collateral setting" indicates whether a property is scheduled to be pledged by LLR as collateral after acquisition of corresponding asset and an overview of the collateral if such property is scheduled to be pledged as collateral.
"Master lessee" represents the companies with which the trustee has entered into or will enter into a master lease agreement for the Intended Acquisition Asset.
"Type of master lease" represents, in accordance with the terms and conditions of the master lease agreement, "pass-through type" for the pass-through type master lease in which rent received by the lessor is in principle the same amount as the rent received by the master lessee from end-tenants, and "sub-lease type" for the sub-lease type master lease in which rent received by the lessor is fixed even if the rent received by the master lessee from end-tenants change. No Master Lease Agreement has been or is going to be entered into with respect to the Intended Acquisition Assets.
"Overview of property assessment report" represents the summary of the engineering report of the Intended Acquisition Assets conducted by Tokio Marine & Nichido Risk Consulting Co., Ltd. upon request by LLR. The engineering firm conducted an investigation of building deterioration conditions, planning of short-term and long-term repair and maintenance, an investigation of building code compliance, and an environmental assessment with respect to hazardous substances. The engineering report represent a judgment and an opinion of the engineering firms mentioned above only at a certain point in time, and any adequacy and accuracy of the report are not guaranteed.
"Structure / No. of floors" and "Type" of the building are based on the property registry.

- "Completion date" of the building represents the date of completion as described in the property registry.
- "Gross floor area" of the building is based on the property registry.
- "Property manager" is the property management company with which the trustee will enter into a property management agreement in order to manage the trust property.
- "Lease" is based on the lease agreements for the Intended Acquisition Asset. The information in "Lease" is as of March 1, 2021.
- "Number of tenants" is based on the number of buildings described in the lease agreements for the trust property. Should master lease agreements be entered into or are going to be entered into, this figure represents the total number of end-tenants. However, tenants who have entered into multiple lease agreements are counted as one tenant. The information in "Number of tenants" is as of March 1, 2021.
Explanation on "Remarks"
- "Remarks" indicate items believed to be materially important in terms of the relationship of rights and use of acquired assets as well as items believed to be materially important in consideration of their impact on appraisal value, profitability, and possibility of disposal regarding a given acquired asset based on the information as of February 28, 2021, and includes the following items:
- - Major restrictions or regulations under laws and other rules
  - Major encumbrances or restrictions related to rights and duties
  - Major matters concerning lease terms agreed with tenants or end tenants, or major status, etc. of property use by tenants or end tenants
  - Major matters when there are structures or other physical elements that cross abutting real estate boundary lines, or when there are problems in confirming real estate adjacent boundaries
Explanation of "Outline of leasing"
- "Outline of leasing" represents the terms and conditions of lease agreements with the top two tenants based on the leased area occupied space for the trust property. In cases where a master lease agreement is entered into, it represents lease agreements between the end tenants and the master lessee.
- "Leased area" means the leased area of the building stipulated in the respective lease agreement of the property and the figures are rounded down to the nearest whole number.
- "Annual rent" is calculated by multiplying by twelve the monthly rent (including common area maintenance fees but excluding national and local consumption taxes; if the property has multiple tenants, the total of all monthly rents) for the building stipulated in each lease agreement of the Intended Acquisition Asset. Figures are rounded down to the nearest million yen.
- "Security deposit" represents the outstanding balance of tenant leasehold and security deposit from the respective end-tenants set forth in the corresponding lease agreements. Figures are rounded down to the nearest million yen.
- The information in "Outline of leasing" is as of March 1, 2021.

Explanation of the "Outline of the appraisal report"
- "Outline of the appraisal report" describes the summary of the appraisal report for the Intended Acquisition Asset prepared by the appraiser upon LLR's request. Such appraisal report represents a judgment and an opinion of the appraiser as an evaluator at a certain point in time, and any adequacy, accuracy of the report or feasibility of a transaction at such appraisal value are not guaranteed. In this item, figures are rounded down to the nearest unit and ratios are rounded to the first decimal place.

Overview of specified asset Osaka-7 LOGIPORT Osaka Bay

Asset name		LOGIPORT Osaka Bay

Use		Warehouse

Type of specified asset		Trust beneficiary interest in real property

Planned acquisition date		April 30, 2021

Intended acquisition price		40,000 million yen

Overview of trust		Entrustment date	December 27, 2019

	Trustee	Mitsubishi UFJ Trust and Banking Corporation
beneficiary interest

	Trust maturity date	April 30, 2031


		Location	1-4-130 Nankonaka, Suminoe-ku,Osaka-city, Osaka

		Land area	69,908.85 m2
Land		Zoning	Semi-industrial zone

	SCR	60%


		FAR	200%

		Form of ownership	Ownership

Presence or absence of pledged collateral setting	None

Master lessee		-

Type of master lease		-

Appraisal value (Date of Valuation)	42,700 million yen
(as of February 28, 2021)


Real estate appraiser		Tanizawa Sogo Appraisal Co., Ltd.

		Appraiser	Tokio Marine & Nichido Risk Consulting Co., Ltd.

		Appraisal date	March, 2021

Overview of engineering	Emergency repair cost	-

		Short-term repair cost	-

		Long-term repair cost	245,904 thousand yen / 12 years (annual average: 20,492 thousand yen)

		Structure / No. of	Steel structure aluminum-zinc alloy coated steel roofing, 4-story
		floors

Building		Completion date	February 27, 2018

	Gross floor area	139,551.94 m2

		Type	Warehouse

		Form of ownership	Ownership

Property manager		CRE, Inc.

		Number of tenants	11

Lease		Annual rent	1,608 million yen

	Security deposit	471 million yen


		Leased area	112,390.94 m2

	Net Rentable area	136,516.89 m2
	Occupancy rate	82.3%

Remarks	None

Outline of leasing
Osaka-7 LOGIPORT Osaka Bay

Outline of leasing

		Annual rent
Tenant	Leased area	(excluding national and	Security deposit
		local consumption taxes)

KOHNAN SHOJI CO.,	34,352 m2	Undisclosed (Note 1)	Undisclosed (Note 1)
LTD.


Contract type: Undisclosed (Note 1)
Rent revision: Undisclosed (Note 1)
Early termination: Undisclosed (Note 1)

Note 1: Not disclosed because approval has not been obtained from the tenant.

Note 2: As for the tenant with second leased area, because approval has not been obtained for all of the items above from the tenant, not described in the table above.

Outline of appraisal report Osaka-7 LOGIPORT Osaka Bay

Outline of appraisal report

Appraisal value			42,700 million yen

Appraiser			Tanizawa Sogo Appraisal Co., Ltd.

Appraisal date			February 28, 2021

		Item		Details				Outline
					(million yen)

Income approach value		42,700	Assessed based on a discounted cash flow method and
					verified against a direct capitalization method.


	Direct capitalization method		44,700

		Operating revenues		2,172

			Total potential revenue			Assessed based on the revenue from rent and common
					2,247	area maintenance that could be procured on a standard
							and consistent basis.

			Loss such as vacancy	75	Assessed	based	on	the forecast	of vacancy and
					replacement period.


		Operating expenses		400

			Maintenance costs	40	Based on current contract terms and conditions.

			Utility costs		98	Assessed based on previous year's actual amount of the
					property.


			Repair costs		16	Assessed	based	on	the repair and	renewal expenses
					described in the engineering report.


			Property	management	5	Assessed based on current terms and conditions.
			fees


			Tenant	solicitation	16	Assessed based on tenant lease rollover assumptions.
			expenses


			Property taxes	212	Assessed based on previous year's actual amount.

			Non-life	insurance	6	Assessed based on similar cases.
			premiums


			Other expenses	4	Assessed based on previous year's actuals.

		Net operating income		1,771

			One-time	investment	4	The investment yield is assessed as 1.0%.
			gains


			Capital expenditure	32	Assessed	based	on	the repair and	renewal expenses
					described in the engineering report.


		Net income		1,744

		Capitalization rate		3.9%	Assessed based on examples of comparable real estate
					transactions while taking into account particular factors

					specific to the real estate.

	Discounted cash flow method		41,900

		Discount rate			Assessed based on additional yield premium relative to
				4.0%	other financial assets in consideration of individual
					characteristics of the real estate.

		Terminal capitalization rate		4.1%	Assessed based on the capitalization rate coupled with
				reflecting uncertainties about the future.


Cost method value		42,300

	Proportion of land		60.9%

	Proportion of building		39.1%

Other points to be noted for the determination of appraisal value		None

4. Seller Profile

Name	Nanko Property TMK

Address	1-11-1 Marunouchi, Chiyoda-ku, Tokyo

Representative	Director Kazuhiro Matsuzawa

Line of business	1. Assignment of specified assets in accordance with an asset liquidation plan based on the Asset
		Securitization Law and business related to the management and disposition of such assets.
		2. Other incidental business related to securitization of specified assets above

Capital	100,000 yen

Relationship with LLR and LaSalle REIT Advisors K.K.

	Capital ties	LLR holds approximately 11.4% of the total amount of preferred equity of the TMK.
	Except for the above, there are no noteworthy capital relationships.


	Personal relations	There are no significant personal relationships.

	Business relationship	There are no significant business relationships.

		The company does not fall under the category of related party to LLR or LRA.
	Applicable situation to	In addition, since the TMK has concluded an asset management agreement with the Sponsor,
	related parties	LaSalle KK, which is the parent company of LRA, the TMK is deemed a related party under the
		Related Party Transaction Rules of LRA.

Transactions with Related Parties Osaka-7 LOGIPORT Osaka Bay
Since the seller is deemed a related party under the Related Party Transaction Rules of LRA, necessary deliberations and resolutions have been conducted in accordance with the rules on transactions with related parties and other internal rules.
Status of parties concerned

Osaka-7 LOGIPORT Osaka Bay

In the table below, ① indicates company name and ② indicates the relation between related party etc.

Asset Name	Prior Owner	Second Prior Owner
（Location）

	①、②	①、②

	Purchase (Transfer) Price	Purchase (Transfer) Price

	Purchase (Transfer) Date	Purchase (Transfer) Date

LOGIPORT Osaka	① Nanko Property TMK	② Non-related party
Bay	② This is a TMK that has executed an
(Osaka-city, Osaka)	asset management agreement with
	the Asset Management Company's
	Sponsor

	Omitted as the current owner/trust
	beneficiary has owned the property for	-
	over a year

	December, 2019	-

7. Future Outlook

For further details on future projections, please refer to the "Notice Concerning Upward Revisions to the Forecasts for Financial Results and DPU for the Fiscal Period Ending August 31, 2021 and the Forecasts for Financial Results and DPU for the Fiscal Period Ending February 28, 2022" released today.

LLR's website:http://lasalle-logiport.com/english/

Exhibit-1: Overview of the Intended Acquisition Asset
Exhibit-2: Outline of appraisal reports
Exhibit-3: Overview of the report on research on conditions of buildings and analysis of seismic risk
Exhibit-4: List of portfolio assets after the Acquisition

Exhibit-1: Overview of the Intended Acquisition Asset

Osaka-7 LOGIPORT Osaka Bay

Exhibit-2: Outline of appraisal reports

							Income approach value (yen in millions)

Property				Appraisal	Appraisal	Cost method	Direct capitalization	DCF method valuation
Property name	Appraiser	value (yen	value (yen	method value
number				date	in millions)	in millions)	Estimated	Cap rate	Estimated	Discount	Terminal

							value	(%)	value	rate (%)	cap rate
							(%)

Existing assets
	LOGIPORT	Tanizawa
	Sogo
Tokyo-1	Hashimoto		Feb 28, 2021	23,800	20,400	24,100	4.0	23,700	4.1	4.2
Appraisal
	(Note 1)
	Co., Ltd.

	LOGIPORT	Tanizawa
	Sogo
Tokyo-2	Sagamihara		Feb 28, 2021	25,900	22,800	26,500	4.1	25,700	4.2	4.3
Appraisal
	(Note 2)
	Co., Ltd.

Tokyo-3	LOGIPORT	CBRE K.K.	Feb 28, 2021	30,200	23,200	30,500	3.8	30,200	3.6	3.9
Kitakashiwa

	LOGIPORT
Tokyo-5	Nagareyama	CBRE K.K.	Feb 28, 2021	31,100	22,200	30,700	4.1	31,100	3.8	4.1
	B
	LOGIPORT	Tanizawa
	Sogo
Tokyo-6	Higashi		Feb 28, 2021	20,200	19,700	20,400	4.3	20,100	4.4	4.5
Appraisal
	Ogishima A
	Co., Ltd.

	LOGIPORT	Tanizawa
	Sogo
Tokyo-7	Higashi		Feb 28, 2021	21,700	21,100	22,200	4.3	21,500	4.4	4.5
Appraisal
	Ogishima B
	Co., Ltd.

	LOGIPORT	Tanizawa
	Sogo
Tokyo-8	Higashi		Feb 28, 2021	26,400	25,300	26,800	4.2	26,200	4.3	4.4
Appraisal
	Ogishima C
	Co., Ltd.

		Tanizawa
Tokyo-9	LOGIPORT	Sogo		Feb 28, 2021	12,500	11,400	12,800	4.3	12,300	4.4	4.5
Kawagoe	Appraisal

		Co., Ltd.
	LOGIPORT	Tanizawa
	Sogo								4.2
Tokyo-11	Kashiwa		Feb 28, 2021	10,500	10,000	10,800	4.3	10,400	4.5
Appraisal	(Note 3)
	Shonan
		Co., Ltd.
	LOGIPORT	Tanizawa
	Sogo								4.2
Tokyo-12	Sayama		Feb 28, 2021	6,630	6,440	6,860	4.3	6,530	4.5
Appraisal	(Note 4)
	Hidaka
		Co., Ltd.
	Higashi	Tanizawa
Tokyo-13	Ogishima	Sogo		Feb 28, 2021	1,620	-	-	-	1,620	3.6	3.7
	(leasehold	Appraisal							(Note 5)
	land)	Co., Ltd.
	LOGIPORT	Japan	Real
Tokyo-14	Kawasaki Bay	Estate		Feb 28, 2021	34,920	33,400	35,280	3.9	34,560	3.6	4.0
	(Note 6)	Institute
	LOGIPORT	Japan	Real
Tokyo-15	Estate		Feb 28, 2021	9,310	8,030	9,410	4.4	9,200	3.9	4.5
Shinmoriya
		Institute
	LOGIPORT	Japan	Real
	Sakai
Osaka-1	Estate		Feb 28, 2021	8,720	5,730	8,810	4.4	8,620	4.0	4.5
Minamijimach
	Institute
	o

	LOGIPORT	Tanizawa
Osaka-2	Sakai Chikko	Sogo	Feb 28, 2021	5,020	4,570	5,120	4.5	4,970	4.4	4.7
Shinmachi	Appraisal	(Note 8)

	(Note 7)	Co., Ltd.
	LOGIPORT	Tanizawa
	Sogo
Osaka-3	Osaka Taisho	Feb 28, 2021	19,300	17,600	19,900	4.1	19,000	4.2	4.3
Appraisal
	(Note 9)
	Co., Ltd.

		Tanizawa
Osaka-5	LOGIPORT	Sogo	Feb 28, 2021	57,800	53,900	58,500	4.3	57,500	4.4	4.5
Amagasaki	Appraisal

		Co., Ltd.
	LOGIPORT	Tanizawa
	Sogo
Osaka-6	Sakai	Feb 28, 2021	12,800	10,800	13,100	4.4	12,600	4.5	4.6
Appraisal
	(Note 10)
	Co., Ltd.

Intended Acquisition Asset

	LOGIPORT	Tanizawa
	Sogo
Osaka-7	Osaka	Feb 28, 2021	42,700	42,300	44,700	3.9	41,900	4.0	4.1
Appraisal
	Bay
	Co., Ltd.

	Portfolio total		401,120	358,870	406,480		397,700

Notes:

The appraisal value, cost method value, estimated value of direct capitalization method and estimated value of DCF method of LOGIPORT Hashimoto describe pro-rated portion of the joint co-ownership interest in the trust beneficiary interests (55%).
The appraisal value, cost method value, estimated value of direct capitalization method and estimated value of DCF method of LOGIPORT Sagamihara describe our pro-rata portion of the joint co-ownership interest in the trust beneficiary interests (51%).
Discount rate for LOGIPORT Kashiwa Shonan is from the 1st fiscal year to the 3rd fiscal year.
Discount rate for LOGIPORT Sayama Hidaka is from the 1st fiscal year to the 3rd fiscal year.
Discount rate for Higashi Ogishima (leasehold land) is from the 1st fiscal year to the 3rd fiscal year.
The appraisal value, cost method value, estimated value of direct capitalization method and estimated value of DCF method of LOGIPORT Kawasaki Bay describe our pro-rata portion of the joint co-ownership interest in the trust beneficiary interests (40%).
The appraisal value, cost method value, estimated value of direct capitalization method and estimated value of DCF method of LOGIPORT Sakai Chikko Shinmachi include the value of the solar power generation facility completed on August 31, 2020.
Discount rate for LOGIPORT Sakai Chikko Shinmachi is from the 1st fiscal year to the 7th fiscal year.
The appraisal value, cost method value, estimated value of direct capitalization method and estimated value of DCF method of LOGIPORT Osaka Taisho describe our pro-rata portion of the joint co-ownership interest in the trust beneficiary interests (62.5%).
The appraisal value, cost method value, estimated value of direct capitalization method and estimated value of DCF method of LOGIPORT Sakai describe our pro-rata portion of the joint co-ownership interest in the trust beneficiary interests scheduled (50%).

Exhibit-3: Overview of the report on research on conditions of buildings and analysis of seismic risk

Engineering report

Seismic review report

Emergency

Medium-to-

and short-

long term

Property

term repair

Property name

repair costs

PML

costs

number

Engineering firm

Report date

(thousand

Engineering firm

Report date

(%)

(thousand

yen)

(Note 1)

yen)

(Notes 1

and 3)

and 2)

Existing Assets

LOGIPORT

Earth-Appraisal

Tokio

Marine

Tokyo -1

Hashimoto

Nov, 2015

－

206,901

Nichido

Risk

Oct, 2015

1.3

Co., Ltd.

(Note 4)

Consulting Co., Ltd.

LOGIPORT

Earth-Appraisal

Tokio

Marine

Tokyo -2

Sagamihara

Nov, 2015

－

289,248

Nichido

Risk

Oct, 2015

0.5

Co., Ltd.

(Note 5)

Consulting Co., Ltd.

LOGIPORT

Earth-Appraisal

Tokio

Marine

Tokyo -3

Nov, 2015

－

238,851

Nichido

Risk

Oct, 2015

0.9

Kitakashiwa

Co., Ltd.

Consulting Co., Ltd.

LOGIPORT

Earth-Appraisal

Tokio

Marine

Tokyo -5

Nov, 2015

－

666,525

Nichido

Risk

Oct, 2015

2.3

Nagareyama B

Co., Ltd.

Consulting Co., Ltd.

LOGIPORT

Earth-Appraisal

Tokio

Marine

Tokyo -6

Higashi-

Oct, 2018

100

1,021,194

Nichido

Risk

Oct, 2015

6.5

Co., Ltd.

Ogishima A

Consulting Co., Ltd.

LOGIPORT

Earth-Appraisal

Tokio

Marine

Tokyo -7

Higashi-

Oct, 2018

－

1,215,861

Nichido

Risk

Oct, 2015

6.2

Co., Ltd.

Ogishima B

Consulting Co., Ltd.

LOGIPORT

Earth-Appraisal

Tokio

Marine

Tokyo -8

Higashi-

Nov, 2015

－

817,104

Nichido

Risk

Oct, 2015

6.3

Co., Ltd.

Ogishima C

Consulting Co., Ltd.

LOGIPORT

Earth-Appraisal

Tokio

Marine

Tokyo -9

Feb, 2017

－

118,057

Nichido

Risk

Feb, 2017

4.4

Kawagoe

Co., Ltd.

Consulting Co., Ltd.

LOGIPORT

Earth-Appraisal

Tokio

Marine

Tokyo -11

Kashiwa

Apr, 2019

－

98,015

Nichido

Risk

Apr, 2019

1.6

Co., Ltd.

Shonan

Consulting Co., Ltd.

LOGIPORT

Tokio Marine

Tokio

Marine

Nichido

Risk

Tokyo-12

Apr, 2019

－

50,045

Nichido

Risk

Apr, 2019

3.5

Sayama Hidaka

Consulting

Co.,

Consulting Co., Ltd.

Ltd.

Higashi

Tokyo-13

Ogishima

－

(leasehold land)

LOGIPORT

Tokio Marine

Tokio

Marine

Nichido

Risk

Tokyo-14

Kawasaki Bay

Jul, 2020

－

153,972

Nichido

Risk

Jul, 2020

3.3

Consulting

Co.,

(Note 6)

Ltd.

Consulting Co., Ltd.

Tokio Marine

Tokio

Marine

LOGIPORT

Nichido

Risk

Tokyo-15

Jul, 2020

－

89,779

Nichido

Risk

Jul, 2020

0.9

Shinmoriya

Consulting

Co.,

Ltd.

Consulting Co., Ltd.

LOGIPORT

Earth-Appraisal

Tokio

Marine

Osaka-1

Sakai

Jan, 2018

－

29,950

Nichido

Risk

Feb, 2018

6.5

Co., Ltd.

Minamijimacho

Consulting Co., Ltd.

LOGIPORT

Earth-Appraisal

Tokio

Marine

Osaka-2

Sakai Chikko

Apr, 2019

－

48,172

Nichido

Risk

Apr, 2019

7.6

Co., Ltd.

Shinmachi

Consulting Co., Ltd.

	LOGIPORT	Tokio Marine &				Tokio	Marine	&
	Nichido	Risk
Osaka-3	Osaka Taisho	Aug, 2019	－	144,188	Nichido		Risk	Aug, 2019	8.4
Consulting	Co.,
	(Note 7)	Ltd.					Consulting Co., Ltd.

	LOGIPORT	Tokio Marine &				Tokio	Marine	&
	Nichido	Risk
Osaka-5	Jul, 2020	－	784,884	Nichido		Risk	Jul, 2020	6.2
	Amagasaki	Consulting	Co.,				Consulting Co., Ltd.
		Ltd.

	LOGIPORT	Tokio Marine &				Tokio	Marine	&
	Nichido	Risk
Osaka-6	Sakai	Jul, 2020	－	140,773	Nichido		Risk	Jul, 2020	8.7
Consulting	Co.,
	(Note 8)	Ltd.					Consulting Co., Ltd.

Intended Acquisition Asset
	LOGIPORT	Tokio Marine &				Tokio	Marine	&
	Nichido Risk
Osaka-7	Osaka		Mar, 2021	－	245,904	Nichido		Risk	Mar, 2021	8.3
Consulting Co.,
	Bay				Consulting Co., Ltd.
	Ltd.

Portfolio PML (Note 9)										3.1

Notes:

"Emergency and short-term repair costs" and "Medium-to-long-term repair costs" are indicated in the "Engineering reports", and "PML" are indicated in "Seismic review report".
"Emergency and short-term repair costs" are the repair costs which are expected to be required within 12 months from the date of the relevant report.
"Medium-to-long-termrepair costs" are the repair costs which are expected to be required within 12 years from the date of the relevant report.
"Emergency and short-term repair costs" and "Medium-to-long-term repair costs" of LOGIPORT Hashimoto show the pro- rated portion of the joint co-ownership interest in the trust beneficiary interests (55%), which is rounded down to the nearest thousand yen.
"Emergency and short-term repair costs" and "Medium-to-long-term repair costs" of LOGIPORT Sagamihara show the pro- rated portion of the joint co-ownership interest in the trust beneficiary interests (51%), which is rounded down to the nearest thousand yen.
"Emergency and short-term repair costs" and "Medium-to-long-term repair costs" of LOGIPORT Kawasaki Bay show the pro- rated portion of the joint co-ownership interest in the trust beneficiary interests (40%), which is rounded down to the nearest thousand yen.
"Emergency and short-term repair costs" and "Medium-to-long-term repair costs" of LOGIPORT Osaka Taisho show the pro- rated portion of the joint co-ownership interest in the trust beneficiary interests (62.5%), which is rounded down to the nearest thousand yen.
"Emergency and short-term repair costs" and "Medium-to-long-term repair costs" of LOGIPORT Sakai show the pro-rated portion of the joint co-ownership interest in the trust beneficiary interests (50%), which is rounded down to the nearest thousand yen.
"Portfolio PML" is indicated based on the "Portfolio Seismic review report of 18 properties" dated March 2021.

Exhibit-4: List of portfolio assets after the Acquisition

				(Intended)
Area	Property		Property name	Acquisition price	Appraisal value	Investment ratio
number		(million yen)	(million yen)	(%) (Note 2)

				(Note 1)
Existing Assets
	Tokyo-1		LOGIPORT Hashimoto (Note 3)	21,200	23,800	5.9

	Tokyo -2		LOGIPORT Sagamihara (Note 4)	23,020	25,900	6.4

	Tokyo -3		LOGIPORT Kitakashiwa	25,300	30,200	7.1

	Tokyo -5		LOGIPORT Nagareyama B	26,600	31,100	7.4

	Tokyo -6		LOGIPORT Higashi Ogishima A	19,000	20,200	5.3

	Tokyo -7		LOGIPORT Higashi Ogishima B	19,120	21,700	5.3
Tokyo
Tokyo -8		LOGIPORT Higashi Ogishima C	23,700	26,400	6.6
area

	Tokyo -9		LOGIPORT Kawagoe	11,950	12,500	3.3

	Tokyo-11		LOGIPORT Kashiwa Shonan	9,300	10,500	2.6

	Tokyo-12		LOGIPORT Sayama Hidaka	6,430	6,630	1.8

	Tokyo-13		Higashi Ogishima	1,189	1,620	0.3
		(leasehold land)

	Tokyo-14		LOGIPORT Kawasaki Bay	32,200	34,920	9.0
		(Note 5)

	Tokyo-15		LOGIPORT Shinmoriya	8,580	9,310	2.4

	Osaka-1		LOGIPORT Sakai	8,150	8,720	2.3
		Minamijimacho

	Osaka-2		LOGIPORT Sakai Chikko	4,160	5,020	1.2
		Shinmachi (Note 6)
Osaka
Osaka-3		LOGIPORT Osaka Taisho	17,655	19,300	4.9
area		(Note 7)

	Osaka-5		LOGIPORT Amagasaki	48,200	57,800	13.5

	Osaka-6		LOGIPORT Sakai	12,075	12,800	3.4
		(Note 8)

			Sub-total	317,829	358,420	88.8

Intended Acquisition Asset
Osaka	Osaka-7		LOGIPORT Osaka Bay	40,000	42,700	11.2
area

			Sub-total	40,000	42,700	11.2

		Portfolio total	357,829	401,120	100.0

Notes:

1. "(Intended) Acquisition price" is the price to be paid for each asset pursuant to their respective relevant Trust Beneficiary Interests Purchase & Sale Agreement and the Joint Co-ownership Interest Purchase & Sale Agreement for Trust Beneficiary Interests (excluding national and local consumption taxes, and expenses such as transaction fees, and is rounded down to the nearest million yen) (as for LOGIPORT Sakai Chikko Shinmachi, LOGIPORT Osaka Taisho and LOGIPORT Amagasaki, the

total amount of the price under the each Joint Co-ownership Interest Purchase & Sale Agreement for Trust Beneficiary Interests). Therefore, the sum of the (intended) acquisition price of each property may differ from the subtotal or the total (intended) acquisition price.

"Investment ratio" is the ratio of the (intended) acquisition price of the property to the total (intended) acquisition price, rounded to the first decimal place. Therefore, the sum of the investment ratio of each property may differ from the subtotal or the total investment ratio.
The acquisition price, appraisal value and investment ratio of LOGIPORT Hashimoto describe our pro-rata portion of the joint co-ownership interest in the trust beneficiary interests (55%).
The acquisition price, appraisal value and investment ratio of LOGIPORT Sagamihara describe our pro-rata portion of the joint co-ownership interest in the trust beneficiary interests (51%).
The acquisition price, appraisal value and investment ratio of LOGIPORT Kawasaki Bay describe our pro-rata portion of the joint co-ownership interest in the trust beneficiary interests (40%).
The appraisal value of LOGIPORT Sakai Chikko Shinmachi includes the value of the solar power generation facility completed on August 31, 2020.
The acquisition price, appraisal value and investment ratio of LOGIPORT Osaka Taisho describe our pro-rata portion of the joint co-ownership interest in the trust beneficiary interests (62.5%).
The acquisition price, appraisal value and investment ratio of LOGIPORT Sakai describe our pro-rata portion of the joint co- ownership interest in the trust beneficiary interests (50%).

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LaSalle Logiport REIT published this content on 14 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 April 2021 06:22:05 UTC.

Delayed Japan Exchange Other stock markets 09:32:03 2024-04-17 pm EDT			5-day change	1st Jan Change
157,200 ^JPY	-1.19%		+0.77%	+3.42%

03:05am	LaSalle Logiport Reit Completes 714 Million Yen Acquisition, Construction of Cold Storage Facility at Kitakashiwa Premises	MT
Apr. 16	LaSalle Logiport Reit to Book Gain on Disposition of 1.14 Billion Yen in Fiscal 2025	MT

LaSalle Logiport Reit Completes 714 Million Yen Acquisition, Construction of Cold Storage Facility at Kitakashiwa Premises	09:05pm	MT
LaSalle Logiport Reit to Book Gain on Disposition of 1.14 Billion Yen in Fiscal 2025	Apr. 15	MT
LaSalle LOGIPORT REIT announces an Equity Buyback for 43,000 shares, representing 2.3% for ¥6,000 million.	Apr. 15	CI
LaSalle LOGIPORT REIT authorizes a Buyback Plan.	Apr. 14	CI
LaSalle Logiport Reit Completes Second Disposal of Trust Beneficiary in LOGIPORT NagareyamaB for 4.38 Billion Yen	Mar. 21	MT
LaSalle Logiport Reit Acquires NY Properties TMK's Corporate Bonds for 600 Million Yen	Mar. 20	MT
LaSalle Logiport Reit to Acquire Additional Interests in LRF3 Properties for 75 Million Yen	Mar. 17	MT
LaSalle Logiport REIT Completes Purchase of Trust Beneficiary Interest in Inuyama City Facility	Feb. 19	MT
LaSalle LOGIPORT REIT Fixes Interest Rates for 12.06 Billion Yen Term Loans After Rate Swap	Feb. 15	MT
LaSalle Logiport Reit Secures New 12 Billion Yen Loans; Prepays Existing Debts	Feb. 14	MT
LaSalle LOGIPORT REIT agreed to acquire TK Equity interest B of LRF3 Properties GK for ¥1155 million.	Feb. 13	CI
LaSalle LOGIPORT REIT Announces Notice Regarding Borrowing of Funds and Early Partial Prepayment of Debt Financing	Feb. 13	CI
Lasalle LOGIPORT REIT Announces Notice Concerning Term Extension of Commitment Line Agreement	Jan. 30	CI
Lasalle Logiport REIT Files for Proposed Offering of Investment Corporation Bonds Worth 100 Billion Yen	Jan. 08	MT
LaSalle LOGIPORT REIT Announces Board Changes	Dec. 15	CI
LaSalle Logiport REIT Concludes Second Purchase of Japan Logistics Development 1 TMK Preferred Shares	Nov. 30	MT
LaSalle Logiport REIT Closes First Tranche of Disposal of Interests in Chiba Warehouse	Nov. 22	MT
LaSalle LogiPort Finalizes Purchase of Corporate Bonds for 800 Million Yen	Nov. 21	MT
Lasalle Logiport REIT Completes Purchase of First Tranche of NY Properties TMK Preferred Shares	Nov. 20	MT
LaSalle LOGIPORT REIT Reports Earnings Results for the Full Year Ended August 31, 2023	23-10-16	CI
LaSalle LOGIPORT REIT Revises Consolidated Earnings Guidance for Period Fiscal Period Ending February 29, 2024	23-10-16	CI
LaSalle LOGIPORT REIT Provides Consolidated Earnings Guidance for Period Fiscal Period Ending August 31, 2024 and Fiscal Period Ending February 29, 2024	23-10-16	CI
LaSalle LOGIPORT REIT Announces Dividend for the Fiscal Period Ended August 31, 2023, Payable on November 17, 2023	23-10-16	CI
LaSalle LOGIPORT REIT Borrows Funds from MUFG Bank, Ltd., Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation	23-08-29	CI
LaSalle Logiport REIT Secures 7.5 billion Yen Loans to Pay Off Maturing Debts	23-08-25	MT

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LASALLE LOGIPORT REIT	+3.42%	1.88B
PROLOGIS, INC.	-20.11%	106B
GOODMAN GROUP	+21.07%	37.92B
REXFORD INDUSTRIAL REALTY, INC.	-24.71%	9.71B
EASTGROUP PROPERTIES, INC.	-11.74%	7.97B
FIRST INDUSTRIAL REALTY TRUST, INC.	-7.73%	6.68B
AMERICOLD REALTY TRUST, INC.	-23.85%	6.61B
STAG INDUSTRIAL, INC.	-11.28%	6.48B
WAREHOUSES DE PAUW SA	-13.12%	5.83B
TERRENO REALTY CORPORATION	-11.41%	5.64B

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