Industrial & Infrastructure Fund Investment Corporation (TSE:3249) agreed to acquire IIF Fukuoka Hakozaki Logistics Center II Extension Building and the remaining 40% stakes in IIF Fukuoka Hakozaki Logistics Center I and IIF Fukuoka Hakozaki Logistics Center II for ¥6.8 billion on January 10, 2018. As consideration, ¥2.1 billion will be paid for the remaining 40% stake in IIF Fukuoka Hakozaki Logistics Center I, ¥3.6 billion will be paid for the remaining 40% stake in IIF Fukuoka Hakozaki Logistics Center II and ¥1.1 billion will be paid for IIF Fukuoka Hakozaki Logistics Center II (Extension Building). The consideration will be paid as a lump-sum settlement upon delivery. Industrial & Infrastructure Fund Investment Corporation currently holds 60% stake in IIF Fukuoka Hakozaki Logistics Center I and IIF Fukuoka Hakozaki Logistics Center II and upon completion will hold 100% stake in IIF Fukuoka Hakozaki Logistics Center I and IIF Fukuoka Hakozaki Logistics Center II. Industrial & Infrastructure Fund Investment Corporation will raise ¥2.9 billion of debt from The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mitsubishi UFJ Trust and Banking Corporation and Sumitomo Mitsui Trust Bank, Limited, ¥700 million of debt from Mizuho Bank, Ltd. and ¥2.4 billion of debt from Sumitomo Mitsui Trust Bank, Limited and Japan Post Insurance Co., Ltd. and the debt will be used to finance the acquisition of 40% stake in IIF Fukuoka Hakozaki Logistics Center I and IIF Fukuoka Hakozaki Logistics Center II. The acquisition of IF Fukuoka Hakozaki Logistics Center II Extension Building will be financed through cash reserves. The acquisition of IIF Fukuoka Hakozaki Logistics Center I and IIF Fukuoka Hakozaki Logistics Center II is expected to complete on February 1, 2018 whereas the acquisition of IIF Fukuoka Hakozaki Logistics Center II (Extension Building) is expected to complete on March 14, 2018. As on February 1, 2018, Industrial & Infrastructure Fund Investment Corporation completed the acquisition of remaining 40% stakes in IIF Fukuoka Hakozaki Logistics Center I and IIF Fukuoka Hakozaki Logistics Center II.