Mitsui Fudosan Logistics Park : Notice Concerning Acquisition and Leasing of Assets

January 11, 2022

For Immediate Release

Real Estate Investment Trust Securities Issuer:

Mitsui Fudosan Logistics Park Inc.

(Securities Code: 3471)

6-8-7 Ginza, Chuo-ku, Tokyo 104-0061

Representative: Hiroshi Asai, Executive Director

Asset Management Company:

Mitsui Fudosan Logistics REIT Management Co., Ltd.

Representative: Yukio Yoshida, President and Chief

Executive Officer

Inquiries: Tatsu Makino, Managing Director and Chief

Financial Officer

Tel. [phone]

Notice Concerning Acquisition and Leasing of Assets

Mitsui Fudosan Logistics REIT Management Co., Ltd. ("Asset Management Company"), an asset management company to which Mitsui Fudosan Logistics Park Inc. ("MFLP-REIT") entrusts management of its assets, decided on January 11, 2022, to acquire the trust beneficiary interests in the following properties (individually and collectively, the "Anticipated Acquisitions") with lease contracts with new tenants.

Furthermore, the seller of the Anticipated Acquisitions is an Interested Person as defined in Article 201 of the Act on Investment Trusts and Investment Corporations (the "Investment Trust Act") (Act No. 198 of 1951, as amended) and Article 123 of the Order for Enforcement of the Act on Investment Trusts and Investment Corporations (Act No. 480 of 2000, as amended), and an Interested Party as defined in the Interested Party Transaction Rules of the Asset Management Company (collectively, "Interested Party"), and therefore to conclude an agreement for the sale and purchase of trust beneficiary interests, the Asset Management Company has undertaken the Investment Trust Act and the necessary deliberations and resolution procedures stipulated in the "Interested Party Transaction Rules," which are voluntary rules concerning conflict of interest measures relating to transactions between the Asset Management Company and Interested Party and preliminarily received MFLP-REIT's consent to enter into transactions with an Interested Party under Article 201-2 of the Investment Trust Act.

				Notes
1. Overview of the Acquisition
	Classification	Property no.	Property name		Location	Planned acquisition price
	(*1)		(millions of yen)(*2)
		L-20	MFLP Yachiyo		Yachiyo-shi,	18,000
	Logistics	Katsutadai		Chiba
	facilities	L-21	MFLP Osaka I		Osaka-shi, Osaka	13,900

Note: This document is a press release that is to be made publicly available regarding the acquisition and leasing of MFLP-REIT's property, and has not been prepared for the purpose of solicitation of investment. Prospective investors should make investment decisions only after they review the prospectus for the issuance of new investment units and secondary offering of investment units as well as amendments thereto (if any) prepared by MFLP-REIT, and note that the investment decisions are made at their discretion and responsibility.

In addition, this document does not constitute an offer of securities in the U.S. The securities referred to above have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities referred to above may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred to above will not be publicly offered or sold in the United States.

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	L-22	MFLP Hiratsuka Ⅱ	Hiratsuka-shi,	12,700
	Kanagawa
	Total of 3 Properties	-	44,600

(Note 1) The property number is attached to the assets which the MFLP-REIT currently holds and the Anticipated Acquisitions by the MFLP-REIT for each category of "L", which stands for logistics facilities, and "I", which stands for industrial properties. The same applies hereinafter.

(Note 2) The "Planned acquisition price" is the purchase price of each trust beneficiary interest as set forth on the respective agreements for sale and purchase of trust beneficiary interest to the Anticipated Acquisitions, which is rounded down to the nearest million yen. The purchase price for sale and purchase does not include the national and local consumption taxes and other acquisition costs.

(1)	Sales and purchase	:	January 11, 2022
	agreement date(*1)
(2)	Planned acquisition	:	(1)	"MFLP Yachiyo Katsutadai": February 2, 2022
	date(*2)		(2)	"MFLP Osaka I": February 2, 2022
			(3)	"MFLP Hiratsuka Ⅱ": February 2, 2022
(3)	Seller	: See "4. Seller Profile" below.
(4)	Acquisition funds	: Own funds, the proceeds from issuance of the new investment units which
			was decided at the Board of Directors' Meeting of the MFLP-REIT held on
			January 11, 2022(*3) and loans(*4)
(5)	Settlement method	:	To be paid in a lump sum upon delivery

(Note 1) The sales and purchase agreement date is the date set forth in the respective sale and purchase agreement of trust beneficiary interests related to the Anticipated Acquisitions.

(Note 2) The planned acquisition date is the date set forth in the respective sale and purchase agreement of trust beneficiary interests related to the Anticipated Acquisitions. The planned acquisition date for the Anticipated Acquisitions may be changed under agreement between the MFLP-REIT and the seller.

(Note 3) For details, please refer to the "Notice Concerning Issuance of New Investment Units and Secondary Offering of Investment Units" announced today.

(Note 4) Details will be announced as soon as they are decided.

2. Reasons for the Acquisition and Lease

The Anticipated Acquisitions are composed of the logistics facilities developed by Mitsui Fudosan Co., Ltd., the Sponsor of the MFLP-REIT. They will be acquired and leased to improve the portfolio according to the targets and policies of asset management set forth in the articles of incorporation of the MFLP-REIT. The characteristics of the respective Anticipated Acquisitions are as follows.

As for the tenants of the Anticipated Acquisitions, it has been determined that the tenants conform to the selection criteria described in the "Report on the Management System of Issuers, etc. of Real Estate Investment Trust Securities" announced on October 21, 2021.

(Property No. L-20) MFLP Yachiyo Katsutadai

(1) Location

Located in approximately 1.5 km from National Route 16, a major beltway in the Greater Metropolitan area and approximately 8.2 km from the Chiba Kita Interchange (IC) on the Higashi Kanto Expressway, with high potential as a wide-area distribution base for the Greater Metropolitan area, covering areas from central and northwest Chiba prefecture to eastern Saitama prefecture, as well as central Tokyo.

Note: This document is a press release that is to be made publicly available regarding the acquisition and leasing of MFLP-REIT's property, and has not been prepared for the purpose of solicitation of investment. Prospective investors should make investment decisions only after they review the prospectus for the issuance of new investment units and secondary offering of investment units as well as amendments thereto (if any) prepared by MFLP-REIT, and note that the investment decisions are made at their discretion and responsibility.

In addition, this document does not constitute an offer of securities in the U.S. The securities referred to above have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities referred to above may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred to above will not be publicly offered or sold in the United States.

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With regard to the operating environment, as it is located within Kamikoya Industrial Park, it can be said to be in a favorable environment in which 24-hour operation and smooth logistics operations are possible.

Highly convenient access for commuting, located 4 minutes by bus from Toyo-Katsutadai Station (Toyo Rapid Railway) and Katsutadai Station (Keisei Main Line). The closest bus stop is a 2-minute walk to the property. The surrounding area, starting with Yachiyo City, is highly populated, providing a competitive employment pool.

(2) Features of the building

This property is a 4-story,slope-type MFLP with a gross floor area of 74,624 m2. This property is equipped with a slope providing access to 1st and 3rd floors and truck berths on both sides of the 1st floor that can accommodate 61 10-ton trucks, which make this property highly efficient for delivery operations.

The basic specifications include an effective ceiling height of 5.5 m on the first floor, 6.5 m on the second floor,

1. m on the third floor, 6.5 m on the fourth floor, a floor loading capacity of 1.5 t/ m2 and column spacing of

1. m × 11.6 m. This property has the flexibility to meet a wide range of customer needs and is able to be leased separately, making it highly competitive. This property is also equipped with 6 freight elevators and 12 vertical conveyers, allowing the efficient receipt and dispatch of goods, movement of goods within the facility and storage. Moreover, this property has ample on-site parking space, with slots for 192 passenger cars and 8 waiting slots for trucks.

(Property No. L-21) MFLP Osaka I

(1) Location

Located in an area where large-scale logistics facilities have been developed since the early stages of the formation of the logistics investment market, and the logistics environment is the most well-developed with a large investment track record. This area is highly convenient for transportation, with Osaka Port and urban expressways nearby, and has potential as a delivery base for major consumption areas in the central urban district of Osaka and the Keihanshin area. While the gulf coast of Osaka City is highly evaluated as a logistics site, most of it is subject to the Port Labor Law, which requires the employment of port workers, etc. However, because this property is outside the area subject to the Port Labor Law, it is a favorable logistics location, and there is no burden of employment costs related to the Port Labor Law. In addition, it is close to the central part of the city, such as the Shin-Osaka Station and Osaka Station, and this can be said to be extremely rare as a logistics site. This property is located approximately 4.2 km up to the Shin-Osaka Station, which is served by the JR Tokaido Shinkansen, the JR Sanyo Shinkansen, and the JR Tokaido Main Line, and is approximately 4.9 km from Osaka Station, which is served by the JR Tokaido Main Line and other lines. In addition to the location close to Keihanshin's consumption area, this property is also located in a highly convenient transportation location for regional delivery.

Moreover, this property is located in approximately 450 m from Prefectural Route 10, which runs parallel to Hanshin Expressway #11 (Ikeda Line), and approximately 900 m from the closest IC, Kashima, on Hanshin Expressway, which makes it highly suitable as a relay base for intra-city transport, as a wide-area delivery base for the Kyoto-Osaka-Kobe area and as a base for collection and delivery to the surrounding areas.

As to the operating environment, although it is close to residential areas, the surrounding area is a specialized industrial area in which large warehouses and factories are located. Therefore, it is believed that there will be no major disruption in operations such as 24-hour operation. As it is located in central Osaka, there is no particular concern about securing employment.

Note: This document is a press release that is to be made publicly available regarding the acquisition and leasing of MFLP-REIT's property, and has not been prepared for the purpose of solicitation of investment. Prospective investors should make investment decisions only after they review the prospectus for the issuance of new investment units and secondary offering of investment units as well as amendments thereto (if any) prepared by MFLP-REIT, and note that the investment decisions are made at their discretion and responsibility.

In addition, this document does not constitute an offer of securities in the U.S. The securities referred to above have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities referred to above may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred to above will not be publicly offered or sold in the United States.

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(2) Features of the building

This property is a 4-storyslope-type MFLP with a leasable area of 43,880 m2 with truck berths on the 1st and 3rd floors. The basic specifications include an effective ceiling height of over 5.5 m, a floor loading capacity of

1.5 t/ m2 and column spacing of 10.0 m × 11.1 m. This property is also equipped with 2 elevators and 2 vertical conveyors inside the facility.

(Property No. L-22) MFLP Hiratsuka Ⅱ

(1) Location

Hiratsuka city, where the property is based, is located almost at the center of Kanagawa Prefecture and about 50 km from the center of Tokyo. It is concentrated in industrial facilities and commercial facilities, mainly along the National Route 129, and is developing as one of the core cities in mid-Kanagawa Prefecture. This location, along with the neighboring cities of Atsugi and Ebina, enables us to serve as a base for delivery products to the western part of the Greater Metropolitan area and for relaying with western Japan, as well as for overseeing the entire Greater Metropolitan area. This property is located in approximately 3.6 km from Atsugi Interchange (IC) on Tomei Expressway and approximately 1.7 km from Atsugi Minami IC on Shin-Tomei Expressway, with high potential as a relay base between the Chubu / Kansai regions and the Greater Metropolitan area. It is also well suited for wide-area coverage of the overall Greater Metropolitan area through use of the Ebina Junction to connect to the Ken-O Expressway, for which demand is very high.

With regard to the operating environment, since it is located within the project site for the Hiratsuka City Twin City Okami District Plan, there are no concerns that there will be any complaints, etc. from the surrounding residents, and it can be said to be a good location that can operate 24 hours a day. In terms of securing employment, it is easy to secure employees because the property is within walking distance from the nearest bus stop.

(2) Features of the building

This property is a 4-storybox-type MFLP (2nd floor is office space only) with a gross floor area of 48,141 m2 with truck berths on both sides for superior delivery convenience.

The basic specifications include an effective ceiling height of 5.5 m, a floor loading capacity of 1.5 t/ m2 and column spacing of 11.0 m × 10.5 m (standard), making it a highly versatile specification for various tenants. This property is also equipped with 4 freight elevators and 4 vertical conveyers inside the facility and office space in multiple locations, making it easy to respond to multiple tenants needs. Moreover, this property has ample on-site parking space, with slots for 97 passenger cars and 2 waiting slots for trucks.

3. Details of Anticipated Acquisition

The table below shows a summary of the Anticipated Acquisitions (the "individual asset table"). When referring to the individual asset table, please refer to the following explanation regarding the terms used therein.

In principle, unless otherwise noted, all information included in the individual asset table is current as of November 30, 2021.

1. Explanation concerning classification

・"Category" represents the purpose of each Anticipated Acquisitions in accordance with the classification prescribed in MFLP-REIT's investment policy.

Note: This document is a press release that is to be made publicly available regarding the acquisition and leasing of MFLP-REIT's property, and has not been prepared for the purpose of solicitation of investment. Prospective investors should make investment decisions only after they review the prospectus for the issuance of new investment units and secondary offering of investment units as well as amendments thereto (if any) prepared by MFLP-REIT, and note that the investment decisions are made at their discretion and responsibility.

In addition, this document does not constitute an offer of securities in the U.S. The securities referred to above have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities referred to above may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred to above will not be publicly offered or sold in the United States.

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1. Explanation concerning summary of specified assets

・"Type of specified asset" is the type of each of the Anticipated Acquisitions as of November 30, 2021.

・"Planned acquisition date" is the scheduled date of acquisition indicated in each agreement for sale and purchase of trust beneficiary interest concerning each Anticipated Acquisitions.

• "Planned acquisition price" is the purchase price of each trust beneficiary interest as set forth in each agreement for the sale and purchase of trust beneficiary interest concerning each Anticipated Acquisitions, rounded down to the nearest million yen, excluding national and local consumption tax, and acquisition fee

(e.g. commission).

・"Overview of trust beneficiary interest" includes the name of the trustee, entrustment date and the trust maturity date for each of Anticipated Acquisitions, as of today.

・"Location" of the land is the location of the building recorded in the register (one of the lot numbers, if more than one address was assigned).

・"Lot area" for the land is the lot area recorded in the register, rounding down to the nearest whole number. ・"Zoning" of the land is the type of land use listed in Article 8, paragraph 1, item 1 of the City Planning Act

(Act No. 100 of 1968, as amended).

・"Floor-area ratio" for the land is the ratio of the gross floor area of building to the site area, as stipulated in Article 52 of the Building Standards Act (Act No. 201 of 1950, as amended), and indicates the upper limit of the floor area ratio determined by city planning in accordance with zoning and other factors (designated floor- area ratio) (all of the ratios if there is more than one). Designated floor-area ratios may be relaxed or restricted due to the width of roads adjacent to the land or some other reason, and designated floor-area ratio may be different from the actual applied floor-area ratio.

・"Building coverage ratio" is the ratio of the building area of buildings to the site area, as stipulated in Article 53 of the Building Standards Act, and is the upper limit of the ratio determined by city planning in accordance with the zoning and other factors (designated building coverage ratio). Designated building coverage ratios may be relaxed or restricted due to being a fire-resistant building in a fire control area or some other reason, and designated building coverage ratios may be different from the actual applied building coverage ratios.

・"Type of ownership" of the land and building is the type of rights owned by the trustee.

・"PM Company / LM Company" is the property management company ("PM Company"), which has entered into a property management agreement ("PM Agreement"), or logistics management company ("LM Company"), which has entered into a logistics management agreement ("LM Agreement"), for each Anticipated Acquisitions. "Logistics management" means providing comprehensive management regarding logistics and industrial real estate properties, which includes property management.

・"Master lease company" is the company which has entered into or plans to enter into a master lease agreement, if any, for each of the Anticipated Acquisitions.

・"Type of master lease" is specified as "pass through master lease" if a master lease agreement with no rent guarantee is executed or plans to be executed.

・"Construction completed" for each building is the date of construction of the building in the register. If there

is more than one main building, the "construction completed" date is the oldest date shown in the register.

・"Gross floor area" of the building is based on the record on the property registry, rounding down to the nearest whole number. "Gross floor area" is the gross floor area of the main building and annex. If there is more than one main building, the gross floor area is the sum of the gross floor area for each main building.

・"Structure / number of floors" and "Type" of the building refer to the structure / number of floors and type of the building recorded in the property registry. If there is more than one main building, the structure / number of floors and type are those recorded in the property registry with respect to the main building that has the

Note: This document is a press release that is to be made publicly available regarding the acquisition and leasing of MFLP-REIT's property, and has not been prepared for the purpose of solicitation of investment. Prospective investors should make investment decisions only after they review the prospectus for the issuance of new investment units and secondary offering of investment units as well as amendments thereto (if any) prepared by MFLP-REIT, and note that the investment decisions are made at their discretion and responsibility.

In addition, this document does not constitute an offer of securities in the U.S. The securities referred to above have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities referred to above may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred to above will not be publicly offered or sold in the United States.

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