Mitsui Fudosan Logistics Park

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Growth Strategy

External growth based on the growth potential and extensive pipeline of Mitsui Fudosan's logistics facilities business

MFLP-REIT aims for continuous growth by focusing on MFLP facilities, utilizing the right of first look and preferential negotiation based on "Right of first look and preferential negotiation agreement" that was concluded with Mitsui Fudosan, which boasts high growth in the logistics facilities business.

Properties developed/operated by Mitsui Fudosan(*1) and future plans

Right of first look and preferential negotiation agreement and external growth of MFLP-REIT

As part of its strategic partnership with Mitsui Fudosan, MFLP-REIT has concluded "Right of first look and preferential negotiation agreement" with Mitsui Fudosan. When Mitsui Fudosan sells properties defined in "Right of first look and preferential negotiation agreement" for which MFLP-REIT notifies its intention to acquire, MFLP-REIT is offered priority in receiving information, in principle, and has the right of first look and preferential negotiation with Mitsui Fudosan for a certain period of time.

Major properties developed or operated by Mitsui Fudosan

Scale of Mitsui Fudosan's cumulative investments in logistics facilities business

32 properties ¥480 billion(*1)

Properties defined in "Right of First Look and Preferential Negotiation Agreement"

8 properties 756 thousand m²(*2)

As of May 21, 2018

Fiscal
year of
completion
(*3)
Property
developed/
operated
Location
Total floor
area
(*4)
Acquisition
by
MFLP-REIT
(*5)
Property
defined
in “Right
of first
look
and preferential
negotiation
agreement”
(*6)
FY2013 MFLP Yokohama Daikoku Yokohama, Kanagawa 100,530 m² (50%)
GLP/MFLP Ichikawa Shiohama Ichikawa, Chiba 105,019 m² (50%)
MFLP Yashio Yashio, Saitama 40,728 m²
FY2014 MFLP Kuki Kuki, Saitama 73,153 m²
MFLP Sakai Sakai, Osaka 125,127 m² (20%) (80%)
MFLP Funabashi Nishiura Funabashi, Chiba 30,947 m²
MFLP Atsugi Aikou, Kanagawa 40,942 m²
MFIP Inzai Inzai, Chiba 40,478 m² (20%) (80%)
FY2015 MFLP Hino Hino, Tokyo 205,200㎡ (15%) (85%)
MFLP Kashiwa Kashiwa, Chiba 31,242 m²
FY2016 MFLP Funabashi Ⅰ Funabashi, Chiba 197,746㎡
MFLP Fukuoka Ⅰ Kasuya, Fukuoka 32,199㎡ (81%)
MFLP Hiratsuka Hiratsuka, Kanagawa 33,061㎡
MFLP Komaki Komaki, Aichi 40,597㎡
FY2017 MFLP Inazawa Inazawa, Aichi 72,883㎡
MFLP Ibaraki Ibaraki, Osaka 230,435㎡
MFLP Tsukuba (Annex Building) Tsukubamirai, Ibaraki 25,457㎡
FY2018 MFLP Atsugi Ⅱ Isehara, Kanagawa 54,791㎡
MFLP Prologis Park Kawagoe Kawagoe, Saitama 131,298 m² (50%)
FY2019 MFIP Haneda Ota, Tokyo Approx. 80,900㎡
MFLP Atsugi Ⅲ Hiratsuka, Kanagawa Approx. 47,500㎡
MFLP Kawaguchi Ⅰ Kawaguchi, Saitama Approx. 54,100㎡
MFLP Hiroshima Hiroshima, Hiroshima Approx. 71,300㎡
MFLP Kawasaki Ⅰ Kawasaki, Kanagawa A棟:Approx. 34,000㎡
B棟:Approx. 16,000㎡
MFLP Funabashi Ⅱ Funabashi, Chiba Approx. 224,200㎡
MFLP Yokohama Kohoku Yokohama, Kanagawa Approx. 50,300㎡
MFLP Tachikawa Tachihi Tashikawa, Tokyo Approx. 67,000㎡
FY2020 MFLP Osaka Ⅰ Osaka, Osaka Approx. 48,300㎡
FY2021 Tokyo Rail Gate East(*7) Shinagawa, Tokyo Approx. 161,400㎡
Funabashi, Chiba Approx. 270,000㎡
TBD Other Data centers 2 properties - -

Flow regarding provision of right of first look information

Flow regarding prioritized provision of information

*1 Scale of cumulative investment is based on the material published by Mitsui Fudosan on May 21, 2018.
*2 Indicates the number of properties and cumulative sum of total floor area, including properties defined in "Right of first look and preferential negotiation agreement".
*3 For MFLP Yokohama Daikoku, the year in which operations started is indicated. This property was completed in fiscal 2009.
*4 Indicates the area recorded in the registry for completed properties, the area stated on the Building Certificate for uncompleted properties that obtained a Building Certificate, and the area stated in the material published by Mitsui Fudosan for all other properties. The area for uncompleted properties is the planned area at the time of acquisition of the Building Certificate or at the time of publication, and is subject to change.
*5 The ratio in brackets indicates the share of quasi-co-ownership for the acquired asset.
*6 Includes properties defined in "Right of first look and preferential negotiation agreement". The ratio in brackets indicates the share of co-ownership or quasi co-ownership of properties that may be sold by Mitsui Fudosan to MFLP-REIT.
*7 Mitsui Fudosan was entrusted with the development, drafting of the development plan, and acquisition of tenants for Tokyo Rail Gate EAST. After completion of the project, Mitsui Fudosan will offer master lease services, etc. Mitsui Fudosan has no plans to acquire the property.
Related link
Investing in locations suitable for logistics facilities by focusing on MFLP facilities

Property acquisition utilizing the comprehensive strength of Mitsui Fudosan, a comprehensive real estate company

Investing in MFIP (Mitsui Fudosan Industrial Park) facilities

MFIP InzaiAlthough MFLP-REIT focuses on logistics facilities, in order to take advantage of the current trend in which IT (Information Technology) has rapidly gained a supporting role in the development of logistics facilities and industrial real estate, MFLP-REIT will utilize property information on real estate development or sales delivered via Mitsui Fudosan's client network to invest in industrial real estate, diversify its portfolio, and improve growth. As a first step, MFLP-REIT acquired MFIP Inzai, a data center developed by Mitsui Fudosan, and currently operates the facility.

Acquiring logistics facilities developed by third parties

In addition to acquiring facilities developed by Mitsui Fudosan, MFLP-REIT plans to aggressively acquire logistics facilities developed by third parties other than Mitsui Fudosan. In doing so, it will use the Mitsui Fudosan Group's network as well as the Asset Management Company's channels and will make acquisitions only after fully examining the capacity of the target property to satisfy individual investment standards as well as its impact on the portfolio.

Investing in overseas real estate

MFLP-REIT makes it possible to acquire overseas real estate pursuant to the Articles of Incorporation to meet mid- to long-term global needs.

Acquiring properties through proposal of corporate real estate (CRE) strategies by Mitsui Fudosan

By making use of the Platform (business foundation) and broad client network it has developed as a comprehensive real estate company, Mitsui Fudosan stimulates the potential needs of client firms in the area of real estate by proposing corporate real estate (CRE) strategies and offering real estate consultancy. It also offers advisory services on CRE strategy, such as providing solutions for real estate development and sales that meet the needs of its client firms. By seeking close cooperation with Mitsui Fudosan, MFLP-REIT believes that through the proposal of CRE strategies it can achieve external growth as well as the further diversification and stabilization of its portfolio.

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