Mitsui Fudosan Logistics Park

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To Our Unitholders

Masayuki Isobe
Executive Director

With the support of our unitholders and other stakeholders, Mitsui Fudosan Logistics Park Inc. ("MFLP-REIT") was listed on the Tokyo Stock Exchange Real Estate Investment Trust Market on August 2, 2016.

With Mitsui Fudosan Co., Ltd. ("Mitsui Fudosan") as sponsor, MFLP-REIT invests primarily in logistics facilities.

The leasing market for logistics facilities has maintained stable rental revenue and low vacancies on the back of a robust supply-demand balance in recent years. Demand is expected to continue rising, mainly in leading-edge logistics facilities, against a backdrop of the increase in leasing demand due to the expansion of 3PL provider and the e-commerce market. The funding environment has also remained favorable due to the current monetary easing policy.

In this environment, MFLP-REIT has formed a strategic partnership in the logistics facilities business with Mitsui Fudosan, with which MFLP-REIT concluded a right of first look and preferential negotiation agreement (a pipeline agreement) and established a strong pipeline support system. MFLP-REIT will run its business under a basic policy that aims for continuous improvement of unitholder value through continuous growth. To this end, we will cooperate closely with Mitsui Fudosan, which has a high level of comprehensive strength in the logistics facilities business, including know-how in leasing based on its client network base developed in its office buildings and retail facilities businesses, as well as in property management/operation.

We are grateful for the continued support and guidance of all our unitholders.

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