Mapletree Logistics Trust Makes First Foray Into India With Latest Acquisition
March 18, 2021 – Mapletree Logistics Trust annouced the proposed acquisition of two logistics properties in Pune, Maharashtra, India, through the acquisition of a property holding company.
The acquisition has a property purchase price of NR4,550 million (S$84.2 million).
The Properties are being acquired from a subsidiary of an affiliate of Morgan Stanley Real Estate Investing and Waterloo Motors Private Limited.
Ms Ng Kiat, Chief Executive Officer of the Manager, said, “This will be MLT’s first acquisition in India, a fast growing logistics market that offers attractive long term prospects. Strong demand for logistics space is underpinned by a large growing consumer market, rapidly developing e-commerce, India’s increasing importance as a major manufacturing hub in Asia Pacific as well as a severe lack of supply of Grade A warehouses.”
“The Acquisition will enhance our geographical diversification and network connectivity, positioning MLT well to capture future growth opportunities in the region.”
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