Industrial & Infrastructure Fund Investment Corp (TSE:3249) agreed to acquire 75% stake in IIF Osaka Suminoe Logistics Center I and 75% stake in IIF Osaka Suminoe Logistics Center II and 100% stake in IIF Morioka Logistics Center II for ¥12.3 billion on January 24, 2017. Under the terms of the transaction, 75% stake in IIF Osaka Suminoe Logistics Center I will be acquired for ¥9.1 billion and 75% stake in IIF Osaka Suminoe Logistics Center II will be acquired for ¥1.9 billion and 100% stake in IIF Morioka Logistics Center II will be acquired for ¥1.3 billion. In a related transaction, Industrial & Infrastructure Fund Investment Corp, fund of Mitsubishi Corp.-UBS Realty Inc. will acquire IIF Yokosuka Technology Center, IIF Shonan Technology Center, 49% stake in Osaka Konohana Logistics Center, 60% stake in IIF Fukuoka Hakozaki Logistics Center I, 60% stake in IIF Fukuoka Hakozaki Logistics Center II, 60% stake in IIF Itabashi Logistics Center, IIF Sendai Yamato Logistics Center and IIF Ota Logistics Center. Industrial & Infrastructure Fund Investment Corp will borrow ¥13 billion long term debt to fund the transactions. The transaction is expected to close on March 21, 2017 for IIF Osaka Suminoe Logistics Center I and II and on May 1, 2017 for IIF Morioka Logistics Center II. As of March 21, 2017, Industrial & Infrastructure Fund Investment Corp acquired 75% stake in IIF Osaka Suminoe Logistics Center I and 75% stake in IIF Osaka Suminoe Logistics Center II. The acquisition of IIF Morioka Logistics Center II is expected to close on May 1, 2017. The Tanizawa Sogo Appraisal Co.,Ltd. acted as the appraiser for IIF Osaka Suminoe Logistics Center I and II and CBRE Japan K.K. acted as the appraiser for IIF Morioka Logistics Center II.