As one of the cornerstone investors, Metro invested some $41.3 million to take up some 51.6 million DHLT units, or 7.65% of the total.
DHLT holds an initial portfolio of 14 logistics and industrial properties in Japan with an aggregate net lettable area (NLA) of some 423,920 square metres, carrying an appraised value of $944.4 million.
The portfolio has what is described as a "well-diversified" blue-chip tenant base and it has an average weighted average lease expiry (WALE) of 7.2 years.
Metro’s group CEO Yip Hoong Mun notes that the collaboration with Daiwa House is "in line with the Metro Group’s overall investment strategy of continued diversification for resilience for sustainable recurring income, particularly in the strategic sectors and countries where we see long term growth, and together with experienced partners.”
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Shares in Metro Group and DHLT closed at 75 cents and 82 cents respectively on Jan 12.
