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  4. Asset Acquisition Strategy

Asset Acquisition Strategy

An Acquisition Strategy Aimed at Growing Asset Value

At JLF, priority one is placed on enhancing unitholder value. We aim to grow the portfolio’s asset value by leveraging our discerning eye for properties as Japan’s first dedicated logistics REIT and making investments with careful consideration paid to property quality, price and acquisition timing.

Unrealized gain margin* on the portfolio: 41.2%(As of July 31, 2019)

* Unrealized gain margin = {(Appraisal value - Book value) ÷ Book value} X 100

Unrealized gain History

(million yen)

Acquisition Strategy for DPU Stability and Growth

JLF will acquire properties by combining two approaches. The one approach is called “independent sourcing”, which pursues off-market transactions and generates independent acquisition opportunities. The other is called “sourcing from the market”, which pursues competitive bidding in the market.
We believe that by combining these two approaches, we can achieve both the stability and sustained growth of DPU simultaneously in a well-balanced manner.

①The “independent sourcing” approach

Acquisitions through independent sourcing are expected to be higher yield compared to the acquisitions through the market by devising acquisition schemes.
This high yield is achievable by focusing on off-market transactions and generating independent acquisition opportunities by leveraging experience and expertise the asset manager has cultivated.


②The “sourcing from the market” approach

Sourcing from the market is an acquisition from the market through a competitive bid.
It will help realize “stability” and “growth” in DPU through the expansion of the asset size by acquiring excellent properties at an “appropriate price” based on the characteristics of individual properties, such as location and building specifications.


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