“Alpha Industrial Solutions” has filed for permission to establish a trust for investment in leasehold rights of Alpha Industrial properties, named “ALPHART,” aimed at investing in leasehold rights for four strategically located warehouses valued at 3.5-3.8 billion baht. The strong portfolio includes Bangna Km. 22 and Bangna Km. 19, both with a 100% occupancy rate, serving logistics providers, cold storage services, and construction material suppliers as key clients. For 2024, the plan includes the development of an additional 200,000 sq.m. of warehouses, focusing on the Bangna-EEC area to support the growing export market.

Mr. Pathan Somboonsin, CEO of Alpha Industrial Solutions Co., Ltd., or ALPHA, a comprehensive industrial real estate development company, under a joint venture between Origin Property Public Company Limited (ORI) and SCG JWD Logistics Public Company Limited (SCGJWD), revealed that the company plans to establish the Alpha Industrial Leasehold Real Estate Investment Trust (ALPHART) to raise funds for the continuous expansion of the company. Recently, they submitted a request for public offering of securities for the first time and a filing for the trust unit offering to the Securities and Exchange Commission on February 29.

The trust has appointed Origin REIT Management Co., Ltd. as the REIT Manager, Thai Commercial Asset Management Co., Ltd. as the trustee, and Kasikorn Bank Public Company Limited as the financial advisor for the trust establishment and unit sale.

Initially, the ALPHART trust plans to invest in leasehold rights for four warehouse projects, including Alpha Bangna Km. 22 (Phase 1), Alpha Bangna Km. 19 (Phase 1), Alpha Laem Chabang (Phase 1), and Alpha Rangsit (Phase 1), totaling over 167,000 sq.m. with an estimated asset value of approximately 3.5-3.8 billion baht. Currently, the main tenants include logistics service providers, cold storage service providers, and construction material suppliers, with both Alpha Bangna Km. 22 (Phase 1) and Alpha Bangna Km. 19 (Phase 1) achieving a full occupancy rate of 100%.

Mr. Pathan further stated that Alpha currently has a total of 9 completed and under-development warehouse projects, amounting to a total rental area of 385,000 sq.m., spread across 9 key strategic logistics locations, including Rangsit, Bangna Km. 22, Bangna Km. 19, Bangna Km. 23, Laem Chabang, Phanthong, and the Eastern Economic Corridor (EEC). In the first half of 2024, new warehouse projects in Laem Chabang, Bangna Km. 19, and Phanthong will gradually be completed, with additional revenue expected in the latter half of this year.

At the same time, the company plans to develop additional new projects this year, covering an area of approximately 200,000 sq.m., focusing on the Bangna area and the EEC, such as the Free Zone near Laem Chabang Port and additional projects in Rayong, to meet the continuously growing export market demand and logistics investments from leading foreign companies, particularly targeting clients seeking built-to-suit warehouses that require high expertise in development.

“Our team has expertise in all aspects of warehouse operations, from site selection, design, construction, to implementing complex automation systems, adhering to international standards and other details according to client needs and business models. This has led to the company being trusted to continuously develop built-to-suit warehouses with satisfactory rental rates, comparable to ready-built warehouses,” said Mr. Pathan.

Alpha Industrial Solutions Co., Ltd., or ALPHA, is a comprehensive industrial real estate development company under a joint venture between two major companies, Origin Property Public Company Limited and SCG JWD Logistics Public Company Limited, focusing on the industrial property sector, including warehouses and factories for rent, logistics centers, industrial parks, special economic zones, online warehouse management systems, and free zone warehouses. Currently, approximately 385,000 sq.m. of warehouse projects are under construction across 9 strategic locations, including Rangsit, Bangna Km. 22, Bangna Km. 19, Bangna Km. 23, Laem Chabang, Phanthong, and the Eastern Economic Corridor (EEC).