GLP Investment Corporation sold GLP Tokai, a logistics facility in Tokai, Aichi Prefecture, and raised its earnings forecast for the 29th fiscal period. The sale price is ¥10.4 billion, with a gain on sale of ¥4.369 billion expected. The distribution per investment unit is expected to be ¥3,630, an increase of 9.5% from the previous period.
GLP Investment Corporation sold GLP Tokai, a logistics facility in Tokai, Aichi Prefecture, completed in 2004. ASKUL is the sole tenant, occupancy is 100%, and the buyer has not been disclosed. The sale price is ¥10.4 billion, with a gain on sale of ¥4.369 billion expected.
In connection with the sale, the earnings forecast for the 29th fiscal period (the fiscal year ending August 2026) was revised. Earnings are expected to increase from the previous forecast because the gain on sale is expected to exceed the assumption.
The distribution per investment unit, including distributions in excess of profit, is expected to increase 9.5% to ¥3,630. The number of investment units is expected to decline 0.9% following the cancellation of treasury investment units.