GLP投資法人 published results for its 29th fiscal period. Rental revenue and gains on property sales increased following the acquisition of 4 properties and the sale of GLP Tokai, while the acquisition of its own investment units is expected to increase distribution per unit.
GLP Investment Corporation announced results for its 29th fiscal period (fiscal year ending August 2026) and acquired 4 properties, including ALFALINK Ibaraki 2, while selling GLP Tokai. It said rental revenue and gains on sales increased from the previous period as a result.
For excess distributions of profits, the corporation said it plans to increase the amount equivalent to 40% of depreciation expense and add a one-time excess distribution related to the redevelopment of Marq Narashino 2. Following the cancellation of treasury investment units, the number of investment units will decline 0.9%, and distributions per unit, including excess distributions of profits, are expected to be ¥3,660.
At period-end, the portfolio comprised 88 properties, with total acquisition costs of ¥906.0 billion and an interest-bearing debt ratio of 48.1%. At the same time, the corporation announced the acquisition of treasury investment units, with a maximum of 77,000 units and a maximum total acquisition cost of ¥10.0 billion, which are scheduled to be cancelled in February 2027 after acquisition.
For the 30th fiscal period, the corporation plans to sell Marq Tomisato and expects full-period contributions from acquired properties, but forecasts an 8.6% decline in profit from the previous period due to lower gains on sales. For the 31st fiscal period, a sale is planned, and the corporation expects to factor in a gain on sale of ¥2,583 million despite the absence of a contract.