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.
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
Properties defined in "Right of First Look and Preferential Negotiation right Agreement"
11 properties 1,100 thousand m²(*2)
As of July 31, 2021
| Fiscal year of completion （*3） |
Property developed/ operated |
Location |
Total floor area （*4, 5） |
Acquisition by MFLP-REIT （*6） |
Property defined in “Right of first look and preferential negotiation agreement” （*7） |
|---|---|---|---|---|---|
| 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 | ● | − | |
| MFLP Funabashi Nishiura | Funabashi, Chiba | 30,947 m² | ● | − | |
| MFLP Atsugi | Aikou, Kanagawa | 40,942 m² | ● | − | |
| MFIP Inzai | Inzai, Chiba | 40,478 m² | ● | − | |
| FY2015 | MFLP Hino | Hino, Tokyo | 205,200㎡ | ● （25%） | ● （75%） |
| MFLP Kashiwa | Kashiwa, Chiba | 31,242 m² | ● | − | |
| FY2016 | MFLP Funabashi Ⅰ | Funabashi, Chiba | 197,746㎡ | − | − |
| MFLP Fukuoka Ⅰ | Kasuya, Fukuoka | 32,199㎡ | ● | − | |
| 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 | Tsukubamirai, Ibaraki | 62,484㎡ | ● | − | |
| FY2018 | MFLP Atsugi Ⅱ | Isehara, Kanagawa | 48,976㎡ | ● | − |
| MFLP Prologis Park Kawagoe | Kawagoe, Saitama | 117,337㎡ | ● （50%） | − | |
| FY2019 | MFIP Haneda | Ota, Tokyo | 80,334㎡ | − | − |
| MFLP Hiroshima Ⅰ | Hiroshima, Hiroshima | 68,427㎡ | ● | − | |
| MFLP Funabashi Ⅱ | Funabashi, Chiba | 227,003㎡ | − | ● | |
| MFLP Kawaguchi Ⅰ | Kawaguchi, Saitama | 49,838㎡ | ● | − | |
| MFLP Hiratsuka Ⅱ | Hiratsuka, Kanagawa | 48,141㎡ | − | ● | |
| MFLP Yokohama-Kohoku | Yokohama, Kanagawa | 45,512㎡ | − | ● | |
| MFLP Kawasaki Ⅰ | Kawasaki, Kanagawa | 49,801㎡ | − | − | |
| FY2020 | MFLP Tachikawa Tachihi | Tachikawa, Tokyo | 55,094㎡ | − | − |
| MFLP Osaka Ⅰ | Osaka, Osaka | 43,919㎡ | − | ● | |
| MFLP Yachiyo Katsutadai | Yachiyo, Chiba | 74,624㎡ | − | ● | |
| MFLP Tosu | Tosu, Saga | 35,248㎡ | − | ● | |
| MFIP InzaiⅡ | Inzai, Chiba | 27,268㎡ | ● | − | |
| FY2021 | MFLP Tokorozawa | Iruma, Saitama | 21,721㎡ | − | ● |
| MFLP Funabashi Ⅲ | Funabashi, Chiba | 270,321㎡ | − | ● | |
| MFLP Osaka Katano | Katano, Osaka | 72,827㎡ | − | ● | |
| MFLP Ichikawa Shiohama Ⅱ | Ichikawa, Chiba | 183,991㎡ | − | ● （60%） | |
| FY2022 | MFLP Tomei Ayase | Ayase, Kanagawa | Approx. 58,700㎡ | − | − |
| Tokyo Rail Gate East(*8) | Shinagawa, Tokyo | 174,404㎡ | − | − | |
| MFLP EbinaⅠ | Ebina, Kanagawa | Approx. 122,200㎡ | − | − | |
| SG Realty MFLP Fukuoka Kasuya | Kasuya, Fukuoka | 36,216㎡ | − | − | |
| MFLP Yatomi Kisosaki | Kuwana, Mie | Approx. 99,000㎡ | − | − | |
| MFLP SHINKIBAⅠ | Koto, Tokyo | Approx. 9,500㎡ | − | − | |
| FY2023 | MFLP SHINKIBAⅡ | Koto, Tokyo | Approx. 28,500㎡ | − | − |
| MFLP HIRATSUKA Ⅲ | Hiratsuka, Kanagawa | Approx. 29,100㎡ | − | − | |
| FY2024 | MFLP EBINA MINAMI | Ebina, Kanagawa | Approx. 37,600㎡ | − | − |
| TBD | another data center (1 property) | - | - | − | − |
| TBD | overseas property (1 property) | - | - | − | − |
Flow regarding provision of right of first look information
| *1 | Scale of cumulative investment is based on financial first quarter results materials of Mitsui Fudosan for the fiscal year ended March 31, 2022. |
|---|---|
| *2 | Indicates the number of properties and total floor area, including properties defined in "Right of first look and preferential negotiation right agreement". |
| *3 | Construction of MFLP Yokohama Daikoku was completed in fiscal 2009 and commenced operation in the indicated year. MFLP Tsukuba (existing building) was completed in fiscal 2010. |
| *4 | For completed properties; based on the register or inspection certificate For uncompleted properties (defined in "Right of first look and preferential negotiation right agreement"); based on the building confirmation certificate For uncompleted properties (other properties); based on the materials published by Mitsui Fudosan |
| *5 | The area for uncompleted properties is the planned area at the time of acquisition of the building confirmation certificate or at the time of publication by Mitsui Fudosan, and is subject to change. |
| *6 | The ratio in brackets indicates the share of quasi-co-ownership for the acquired asset. |
| *7 | Includes properties subject to the right of first refusal. The ratio in brackets indicates the share of co-ownership or quasi co-ownership of properties covered by the "Right of first look and preferential negotiation right agreement". |
| *8 | 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
Although 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.
Scale of Mitsui Fudosan's cumulative investments in logistics facilities business
46 properties ¥610 billion(*1)