Allen & Gledhill assisted the Manager and the Sponsor.
Daiwa House Logistics Trust closed its S$540 million initial public offering.
DHLT’s initial portfolio of 14 high-quality modern logistics properties in Japan has a balanced mix of freehold and leasehold assets and a blue-chip tenant base and are valued at approximately JPY80.6 billion (approximately S$952.9 million).
In connection with the IPO, DHLT issued JPY3 billion (S$35.5 million) perpetual securities to the Sponsor, and the proceeds of the issuance were applied towards part financing of the acquisition of the initial portfolio of DHLT.
DHLT is the first Singapore real estate investment trust to be listed in Singapore in 2021.
Daiwa House Asset Management Asia Pte. Ltd acted as manager of DHLT and Daiwa House Industry Co., Ltd. as sponsor.
The Allen & Gledhill team included Partner Jerry Koh (Picture) and Partners Foong Yuen Ping and Jonathan Lee.
Law Firms: Allen & Gledhill LLP;