Itochu Corporation-sponsored REIT Advance Logistics Investment Corporation (ADL) has secured preferential negotiation rights for another asset.

The REIT disclosed on 28 December that it now has added T&B Maintenance Center in Toyama into its pipeline of possible acquisitions.

ADL is a logistics assets-heavy REIT that owns a portfolio of mostly ramp-up warehouses across Japan, which are being used as distribution centres and storage facilities.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.