Daiwa House Logistics Trust announced that DHLT has entered into a conditional sale and purchase agreement to acquire DPL Ibaraki Yuki (the "Target Property"), a freehold logistics property located in Ibaraki Prefecture, Greater Tokyo, Japan (the "Acquisition"). The purchase consideration (the "Purchase Consideration") for the Target Property is JPY 2,640.0 million (SGD 24.1 million), which is at an attractive discount of 18.1% to the average of the two independent valuations of the Target Property of JPY 3,225.0 million (SGD 29.4 million). The Purchase Consideration and acquisition-related costs are expected to be financed through external debt financing.

The Acquisition is expected to be completed in the first quarter of 2024.