Portfolio Overview

The portfolio currently comprises 14 modern logistics properties which are built to high specification. The properties are strategically located with proximity to transportation and shipping infrastructure. The portfolio has a high occupancy rate anchored by a diversified blue-chip tenant base which are involved in multiple sectors including 3PL and e-commerce.

The properties are diversified across the Greater Tokyo Area as well as core regional markets throughout Japan to mitigate concentration risk. The portfolio has a mix of built-to-suit single-tenanted and multi-tenanted properties, providing a balance of both long-term stability and opportunities for rent increases upon lease renewals, as well as a balanced mix of freehold and leasehold assets.

14

Number of
Properties

98.6 %

Occupancy

6.8
Years

WALE

4.7
Years

Portfolio Age

As at 30 June 2022

DPL Sapporo Higashi Kariki

Hokkaido, Hokkaido region

DPL Sendai Port

Miyagi, Tohoku region

DPL Koriyama

Fukushima, Tohoku region

D Project Maebashi S

Gunma, Greater Tokyo region

D Project Kuki S

Saitama, Greater Tokyo region

D Project Misato S

Saitama, Greater Tokyo region

D Project Iruma S

Saitama, Greater Tokyo region

DPL Kawasaki Yako

Kanagawa, Greater Tokyo region

D Project Nagano Suzaka S

Nagano, Greater Tokyo region

DPL Shinfuji

Shizuoka, Greater Nagoya region

D Project Kakegawa S

Shizuoka, Greater Nagoya region

DPL Okayama Hayashima

Okayama, Chugoku region

DPL Okayama Hayashima 2

Okayama, Chugoku region

D Project Fukuoka Tobara S

Fukuoka, Kyushu region

Portfolio Statistics

Property Region Land Lease Expiry Completion Year NLA
(sq m)
Occupancy(2) WALE by Occupied NLA (years)(2) Appraised Value (million) Purchase Consideration
(million)
DPL Sapporo Higashi Kariki Hokkaido Freehold Feb 2018 60,347 100.0% 3.8 ¥12,400 ¥10,520
DPL Sendai Port Tohoku Freehold Mar 2017 63,119 100.0% 1.5 ¥12,900 ¥11,580
DPL Koriyama Tohoku Freehold Sep 2019 34,174 82.3% 1.3 ¥6,730 ¥5,350
D Project Maebashi S Greater Tokyo Freehold Nov 2018 14,736 100.0% 11.3 ¥3,430 ¥3,170
D Project Kuki S Greater Tokyo Jul 2034 Aug 2014 18,257 100.0% 2.1 ¥1,330 ¥1,346
D Project Misato S Greater Tokyo Feb 2045 Feb 2015 14,877 100.0% 12.6 ¥2,320 ¥1,668
D Project Iruma S Greater Tokyo Dec 2048 Dec 2017 14,582 100.0% 15.5 ¥2,340 ¥2,430
DPL Kawasaki Yako Greater Tokyo Mar 2067 Jun 2017 93,159 100.0% 11.3 ¥21,000 ¥18,770
D Project Nagano Suzaka S Greater Tokyo Freehold Sep 2018 9,810 100.0% 6.3 ¥2,630 ¥2,400
DPL Shinfuji Greater Nagoya Mar 2065 Sep 2017 27,537 100.0% 8.7 ¥3,790 ¥3,194
D Project Kakegawa S Greater Nagoya Freehold May 2019 22,523 100.0% 11.8 ¥4,190 ¥3,980
DPL Okayama Hayashima Chugoku Apr 2067 Sep 2017 23,541 100.0% 4.9 ¥4,520 ¥3,650
DPL Okayama Hayashima 2 Chugoku 30 years from 26 Nov 20211 Oct 2017 16,750 100.0% 2.5 ¥2,160 ¥1,750
D Project Fukuoka Tobara S Kyushu Mar 2068 Feb 2019 10,508 100.0% 12.1 ¥1,330 ¥1,260
Total/Average/Weighted Average   423,920 98.6% 6.8 ¥81,070 ¥71,068
Notes:
  1. The ordinary land lease automatically renews for a term of 20 years unless otherwise agreed by the parties and the lessor will not be able to object to renewal without a justifiable reason.
  2. As at 30 June 2022.