Mapletree Logistics Trust Extends Footprint In Australia With A$114 Million (US$81 Million) Acquisition
October 22, 2020 – Mapletree Logistics Trust Management Ltd., as Manager of Mapletree Logistics Trust (MLT), announce the proposed acquisition of Acacia Ridge Distribution Centre located at 338 Bradman Street, Brisbane, Queensland, Australia at a property purchase price of A$114.0 million (US$81 Million) (S$109.8 Million) via the acquisition of all the units in the property trust holding the Property from Alset Australian Mid TC Pty Ltd.
Following this Acquisition, MLT will have three properties in Brisbane2 and a total of 13 properties with over 347,287 sqm of leasable space in Australia.
The Property is located in Acacia Ridge, an established industrial and logistics precinct in southern Brisbane that is well-connected to the Brisbane city centre (18 kilometres (km)), Acacia Ridge Rail Yard (4 km), Brisbane Airport (35 km) and the Port of Brisbane (40 km) via the major expressways, such as the Ipswich Motorway and Logan Motorway. Given its proximity to the city and convenient access to key transportation infrastructure, the Acacia Ridge precinct has attracted many Australian and multinational corporations to set up distribution centres within the precinct.
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