Daiwa House Logistics Trust announced that its IPO received overwhelming demand (not shy) with the public tranche 9.5x and the placement tranche 4.9x subscribed. Considering the relatively larger placement tranche, I would agree that it was hot.

Mr Takeshi Fujita, Chief Executive Officer of the Manager, said, “We are pleased
to have received such strong support from Cornerstone, institutional and retail
investors for our Offering. We believe that this is testament to the attractiveness of our
portfolio of high-quality modern logistics properties, as well as the strength of our
Sponsor – Daiwa House Industry Co., Ltd, one of the largest construction and real
estate development companies in Japan. Our Sponsor has announced plans to pursue
development opportunities more aggressively in the logistics asset class, with the
Southeast Asian region being a key area of focus given the demand for overseas
logistics and manufacturing bases, particularly from Japanese-based tenants.”

“The Sponsor has granted a right of first refusal to DHLT over the Sponsor’s pipeline