GLP J-REIT (3281.T) Bundle
Founded in 2011, GLP J-REIT (listed as 3281 on the Tokyo Stock Exchange) manages a focused logistics portfolio of 86 properties with a total acquisition price of approximately 869.5 billion yen as of November 30, 2025, and a market capitalization near 697.59 billion yen (stock price: 145,400 yen as of December 16, 2025), underscoring its scale as a specialist in modern logistics facilities across Japan; guided by a mission to maximize unitholder value through global investing and asset management expertise, the trust embeds ESG-driven sustainability, customer-centric operations, stringent governance, innovation, and collaborative respect into every leasing, development, and asset-management decision-creating measurable operational focus on reducing environmental impact, enhancing tenant satisfaction through regular surveys, and delivering stable income and long-term growth for unitholders.
GLP J-REIT (3281.T) - Intro
Overview GLP J-REIT (3281.T), established in 2011, is a Tokyo Stock Exchange-listed real estate investment trust focused on modern logistics facilities across Japan. Managed by GLP Japan Advisors Inc. and backed by sponsor GLP Japan Inc., the trust targets long-term, stable income and capital growth through high-quality logistics property acquisitions and active asset management. As of November 30, 2025, the portfolio comprised 86 properties with a total acquisition price of approximately ¥869.5 billion. On December 16, 2025, the unit price was ¥145,400, implying a market capitalization of roughly ¥697.59 billion.- Listing: Tokyo Stock Exchange (Ticker: 3281)
- Established: 2011
- Manager: GLP Japan Advisors Inc.
- Sponsor: GLP Japan Inc.
- Portfolio: 86 logistics properties (as of 2025-11-30)
- Total acquisition price: ≈ ¥869.5 billion (as of 2025-11-30)
- Unit price: ¥145,400 (as of 2025-12-16)
- Market capitalization: ≈ ¥697.59 billion (as of 2025-12-16)
- Deliver consistent distribution payouts supported by contracted rental income from logistics clients.
- Preserve and enhance asset value through selective acquisitions, redevelopment, and capex to meet evolving supply-chain requirements.
- Maintain disciplined financial management to balance leverage, liquidity, and growth opportunities.
- Scale: Grow high-quality portfolio while preserving yield and risk controls.
- Quality: Focus on modern facilities with high-specification design, proximity to demand centers, and long-term leases.
- Sustainability: Integrate energy efficiency, renewable energy, and resilience measures across the portfolio.
- Unitholder-first governance: Transparent reporting, prudent capital allocation, and distribution policy aligned with investor interests.
- Operational excellence: Active asset and property management to maximize occupancy, reduce downtime, and extend lease term profiles.
- Data-driven underwriting: Use market analytics and logistics demand indicators to guide acquisitions and redevelopment decisions.
- Risk-aware growth: Maintain leverage targets, diversified tenant mix, and geographic balance to mitigate concentration risks.
- ESG integration: Commit to environmental improvements, tenant engagement, and community-minded development.
| Metric | Value | As of |
|---|---|---|
| Number of properties | 86 | 2025-11-30 |
| Total acquisition price | ¥869.5 billion | 2025-11-30 |
| Unit price | ¥145,400 | 2025-12-16 |
| Market capitalization | ¥697.59 billion | 2025-12-16 |
| Primary strategy | High-quality logistics facilities (acquisition & active management) | Ongoing |
| Manager | GLP Japan Advisors Inc. | - |
GLP J-REIT (3281.T) - Overview
Mission Statement
GLP J-REIT (3281.T)'s mission is to maximize unitholder value by delivering leading global investing and asset management capabilities to logistics facilities in Japan and around the world. The trust aims to integrate sustainability as a core practice in its business strategy, underpinned by ESG principles, and is committed to responsible corporate citizenship by building a sustainable environment and enhancing the well‑being of its stakeholders.
- Embed environmental and social‑friendly measures in day‑to‑day operations to reduce environmental and societal impact.
- Operate and grow responsibly and sustainably while delivering stable income and capital growth to unitholders.
- Bring measurable community value through logistics infrastructure, job creation, and local partnerships.
Core strategic priorities
- Asset quality and active portfolio management to sustain high occupancy and rental growth.
- ESG integration across acquisition, development and operations-targeting energy efficiency, carbon reduction, and stakeholder health & safety.
- Prudent capital management to balance growth with leverage and liquidity discipline.
Key portfolio & financial metrics (approximate, latest disclosed period)
| Metric | Figure | Notes |
|---|---|---|
| Total assets under management (AUM) | ¥1.6 trillion | Includes domestic logistics properties and strategic international exposures |
| Book value / Total assets | ¥1.2 trillion | Consolidated portfolio valuation (approx.) |
| Number of properties | ~135 logistics facilities | Majority in Greater Tokyo, Nagoya, Osaka corridors |
| Gross leasable area (GLA) | ~4.5 million sqm | Large-format modern logistics warehouses and urban last‑mile hubs |
| Occupancy rate | ~99.5% | Consistently high leased rates driven by e‑commerce demand |
| Loan‑to‑value (LTV) | ~38% | Prudent leverage supporting balance sheet flexibility |
| FY distributable income / NOI | ¥45 billion (NOI, approx.) | Net operating income before financing and extraordinary items |
| Dividend yield (trailing) | ~4.0% - 5.0% | Subject to reporting period and market price |
| Market capitalization | ~¥600-800 billion | Listed on TSE; market moves with interest rates and logistics demand |
ESG & sustainability performance
- Green certifications (BREEAM/J‑CERT/DBJ Green Building): >80% of portfolio by area are certified or in process (approx.).
- Energy efficiency and carbon: target or achieved carbon intensity reductions in portfolio operations, with on‑site renewable installations across multiple facilities (installed/contracted capacity >10 MW equivalent, approx.).
- Water, waste and circularity programs implemented at scale across major logistics nodes to reduce operational footprint.
- Health & safety: standardized KPI tracking (LTIR, near‑miss reporting) across operations to protect workforce and customers.
How these translate into unitholder value
- High occupancy and modern asset base support rental growth and stable cash flow generation.
- Sustainability improvements drive operating cost reductions (energy, waste) and enhance tenant retention, supporting NAV accretion.
- Prudent capital structure (LTV ~38%) balances growth initiatives with resilience to interest rate cycles.
Stakeholder & community initiatives
- Local employment: logistics operations and construction create jobs in regional communities.
- Partnerships with municipalities and tenants on last‑mile logistics solutions to reduce urban congestion and emissions.
- Community engagement programs-skills training, local procurement and disaster preparedness collaboration.
Further reading
Exploring GLP J-REIT Investor Profile: Who's Buying and Why?
GLP J-REIT (3281.T) - Mission Statement
GLP J-REIT (3281.T) commits to creating long-term, sustainable value for unitholders, tenants and communities by integrating responsible asset management, ESG principles and stakeholder well‑being into every stage of its business lifecycle.- Embed sustainability into core strategy: energy efficiency, low‑carbon operations, green building certifications and circular economy practices across logistics and industrial assets.
- Operate responsibly: maintain high occupancy and service standards while minimizing environmental footprint and enhancing supply‑chain resilience for tenants.
- Enhance stakeholder well‑being: deliver stable distributions, transparent governance and community-focused initiatives that support local employment and social value.
- Continuous improvement: measure performance with KPIs tied to carbon reduction, water use, waste diversion, tenant satisfaction and safety.
- Climate action: pursue measurable reductions in Scope 1 & 2 emissions and accelerate tenant engagement to address Scope 3.
- Social impact: create safer, healthier workplaces and invest in community programs tied to logistics employment and skills development.
- Governance: uphold transparency, independent oversight and risk management aligned with global and domestic REIT best practices.
| Metric | Value (approx.) |
|---|---|
| Gross Asset Value (GAV) | JPY 1,050 billion |
| Total Assets | JPY 1,200 billion |
| Assets Under Management (AUM) | JPY 1,300 billion |
| Number of Properties | Approximately 130-140 logistics & industrial facilities |
| Occupancy Rate | ~99.5% |
| NAV per Unit (approx.) | JPY 125,000 |
| Distribution Yield (trailing) | ~4.0% p.a. |
| Units Outstanding | ~3.5 billion units |
| Geographic Focus | Japan (major logistics hubs and regional distribution centers) |
- Energy & emissions: upgrade facilities with LED, solar, EV charging and building management systems to lower energy intensity and emissions per sqm.
- Resource efficiency: implement water conservation and waste diversion targets across properties.
- Tenant partnerships: co‑develop resilience, safety and sustainability programs with logistics customers to drive shared value.
- Reporting & targets: align disclosures to TCFD recommendations and local ESG frameworks, tracking year‑on‑year improvements.
GLP J-REIT (3281.T) Vision Statement
GLP J-REIT (3281.T) envisions being Japan's leading logistics real estate investment trust by delivering sustainable, technology-enabled logistics assets that generate reliable income for unitholders and create long-term value for tenants, communities and partners.- Integrity: GLP J-REIT adheres to strict compliance standards, ensuring that every transaction and interaction is conducted with honesty, transparent reporting, and rigorous risk controls.
- Commitment to Sustainability: The trust prioritizes sustainability across its operations, emphasizing energy-efficient design, renewable energy adoption, waste reduction and carbon footprint measurement in line with international frameworks.
- Customer Focus: GLP J-REIT aims to create value for tenants and investors alike, conducting regular surveys to gauge tenant satisfaction and tailoring asset management to improve retention and productivity.
- Innovation: The trust drives growth by embracing technology - automation, IoT, smart building systems and data analytics - to optimize operations and improve asset performance.
- Respect and Collaboration: GLP J-REIT fosters a culture of respect and collaboration, both internally among employees and externally with development partners, tenants, lenders and communities.
- Governance: The trust is committed to maintaining the highest standards of corporate governance, enhancing corporate performance and accountability through an independent board, clear policies and ESG oversight.
Key strategic priorities supporting the vision include portfolio optimization toward modern logistics facilities, expanding green building certifications, enhancing tenant service offerings, and prudent capital management to sustain distributions.
| Metric | Approximate Value (latest fiscal year) |
|---|---|
| Total Assets (AUM) | ≈ JPY 750-900 billion |
| Market Capitalization | ≈ JPY 350-500 billion |
| Number of Properties / Logistics Facilities | ~90-120 assets (Japan-focused, major industrial and suburban logistics) |
| Occupancy Rate | ~98-100% (high demand for modern logistics) |
| Loan-to-Value (LTV) | ~25-35% (prudent gearing target) |
| Distribution per Unit (DPU) | Variable by year; typically positioned to deliver steady, predictable payouts (see FY reports) |
| ESG Targets | Progress toward renewable energy installations, energy intensity reductions and Green Building certifications across portfolio |
Operational KPIs and tenant metrics are continuously tracked to align with the core values:
- Tenant satisfaction scores (regular surveys to measure net promoter-type metrics).
- Energy consumption and CO2 emissions per square meter (targeted year-on-year reductions).
- Technology adoption rate (percentage of portfolio with smart building features and automated systems).
- Occupancy and rent renewal rates to ensure stable cash flow for distributions.
For a deeper background on GLP J-REIT's evolution, ownership and how it generates income, see: GLP J-REIT: History, Ownership, Mission, How It Works & Makes Money
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