Mitsui Fudosan Logistics Park Inc. (TSE:3471) signed a sale and purchase agreement to acquire MFLP Ibaraki and MFLP Kawaguchi I from Saito Tokutei Mokuteki Kaisha and Mitsui Fudosan Co., Ltd. (TSE:8801) for ¥77.4 billion on September 16, 2020. The consideration would be paid in a lump sum upon delivery. Mitsui Fudosan Logistics Park will acquire MFLP Ibaraki from Saito Tokutei Mokuteki Kaisha for ¥58.9 billion and Mitsui Fudosan Logistics Park will acquire MFLP Kawaguchi I from Mitsui Fudosan Co., Ltd. for ¥18.5 billion.

The net proceeds from the Domestic Primary Offering of ¥32.95 billion and the International Offering of ¥15.15 billion may be allocated for partial financing of the transaction. Loans will also be used to fund the deal. MFLP Ibaraki had annual rent of ¥3.4 billion.

The transaction is expected to close on October 6, 2020.