Financial Results for the 10th Fiscal Period ("FP") Ended Feb. 28, 2021 LaSalle LOGIPORT REIT
May 25, 2021
LaSalle LOGIPORT REIT
Table of Contents
01
02
03
04
05
Operational Highlights | P | 3 | ||
10th Fiscal Period Financial Results | P | 14 | ||
Current Status of the Portfolio | P | 19 | ||
Logistics Market Outlook | P | 34 | ||
Appendix | P | 41 | ||
LaSalle LOGIPORT REIT | 2 |
01
Operational Highlights
LaSalle LOGIPORT REIT | 3 |
Operational highlights
CONTINUE TO IMPROVE UNITHOLDER VALUE THROUGH ACTIVE MANAGEMENT
- JPY 40Bn acquisition of LOGIPORT Osaka Bay through a fourth equity offering
- Increased earnings and dividends for the 10th fiscal period (ended Feb. 2021), driven by maintaining high occupancy and internal growth
- Continue proven Active Management strategies emphasizing total unitholder return, by pursuing accretive external growth and excess return investment opportunities
- Achieved upward rent revision of +5.1% for the 10th fiscal period (ended Feb. 2021), by capturing robust tenant demand
- The first redevelopment project in the value-up phase, by commencement of development work
LaSalle LOGIPORT REIT | 4 |
JPY 40Bn acquisition of LOGIPORT Osaka Bay
4TH PO: RAISED JPY 24BN THROUGH 2ND GLOBAL OFFERING SINCE PANDEMIC BEGAN
- Acquired large-scale logistics property at higher yield relative to transaction market, and earned unrealized gain compared to appraisal value
Appraisal NOI yield
- Acquisition from the SPC invested during lease-up phase, and earned redemption gain from capital recycle
- Internal growth potential from expected rent increase in Osaka Bay area, with its proximity to high consumption areas has recently been re-evaluated
4.4 %
- of unrealized gain to acquisition price
6.8 %
Expected gain on | |
redemption | Rent gap |
JPY 519 MM | 9.6 % |
(JPY 291 per unit)
LaSalle LOGIPORT REIT | 5 |
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