Goodman's Japan Fund Refinances JPY37 billion of Non-recourse Debt for Five Years

TOKYO, March 2, 2012 /PRNewswire/ --

Goodman announces that its consolidated private wholesale fund, (the "Fund"), which is invested in a portfolio of 14 completed, modern logistics facilities located across Japan, has secured a five year non-recourse finance facility totalling JPY37 billion from a syndicate of five leading Japanese financial institutions.

The new finance facility has an initial term of five years, with the option for the Fund to extend the finance facility for an additional term of 12 months. The new finance facility was arranged by Development Bank of Japan, Inc. with other participants in the new finance facility being The Bank of Tokyo Mitsubishi UFJ, Ltd., Mitsubishi UJF Lease & Finance Company Limited, Mizuho Bank Ltd. and Sumitomo Mitsui Banking Corporation.

The Fund is invested in a portfolio of 14 high quality, modern logistics facilities located across Japan and comprises:

+  361,000 sqm of lettable area with a high quality tenant base and strong credit profile
+  Weighted average portfolio building age of five years
+  Strong portfolio weighted average lease expiry of eight years
+  Occupancy of 98%

Goodman Japan President and CEO, Paul McGarry commented, "We are very pleased with the new finance facility. The terms provided by the syndicate of Japanese financiers are highly competitive, enabling us to reduce our current interest expense and further enhance the profitability of the Fund. The provision of this new finance facility on these attractive terms, particularly against the backdrop of the turmoil in European financial markets, demonstrates the strength of our Japanese platform and high quality nature of the modern logistics facilities that we own, develop and manage."

About Goodman

For more information please visit http://www.goodman.com.

For further information, please contact Goodman:

Mari Tokaji
Assistant Manager
Central Executive
Goodman Japan Limited
+81-3-6910-3341