Industrial & Infrastructure Fund Investment Corporation Closes $193.8 Million Follow-On Global Offering of Investment Units

February 14, 2017

S&C client Industrial & Infrastructure Fund Investment Corporation (IIF), a J REIT listed on the Tokyo Stock Exchange, closed a ¥22.0 billion (approximately $193.8 million) follow-on global offering of its investment units. If the Japanese overallotment option is exercised in full, the offering size will be approximately ¥22.6 billion (approximately $198.5 million).
The offering was IIF's fifth global equity offering since its IPO in 2007. IIF was founded in 2007. IIF's asset manager, Mitsubishi Corp. UBS Realty Inc., is a joint venture between UBS and Mitsubishi Corporation. IIF is the only J REIT focusing on both industrial and infrastructure properties. The global offering consisted of a public offering in Japan and a 144A/Regulation S offering in other markets, including the United States, Europe and Asia.
The S&C team was led by Izumi Akai and Keiji Hatano, along with Bryce Gray. Daniel Bleiberg advised on U.S. tax matters. Jeffrey Hochberg and Dana Brodsky advised on ERISA matters.