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Mapletree Logistics Trust To Acquire S$1.4 Billion (US$1.03 Billion) Of Grade-A Logistics Assets In China, Vietnam, and Japan

November 23, 2021 – Mapletree Logistics Trust announced the proposed acquisition of a portfolio of 16 logistics properties, comprising the acquisitions of 13 properties located in China and three properties located in Vietnam.

The agreed property values of the PRC Properties and the Vietnam Properties are RMB4,111.7 million (approximately S$870.0 million) and USD95.9 million (approximately S$129.9 million) respectively.

Separately, the Manager also wishes to announce the proposed acquisition of an effective 97% interest in the trust beneficial interest in a logistics facility in Japan from an unrelated third party at an agreed property value of JPY35,000 million (approximately S$416.3 million).

Ms Ng Kiat, Chief Executive Officer of the Manager, said, “The pandemic has highlighted the importance of logistics and placed a greater emphasis on supply chain resiliency, fuelling demand for modern logistics space. The acquisitions of these 17 modern Grade-A logistics assets with an average age of 1.6 years position us well to capture these structural trends.”

“The acquisitions in China and Vietnam will expand MLT’s network connectivity in these large growing consumption markets while the acquisition in Japan will scale up our presence in Greater Nagoya, an attractive logistics market strategically located between Greater Tokyo and Greater Osaka. Spanning over 1.7 million square feet of gross floor area, this freehold modern ramp-up facility will be our largest asset in Japan.”

Read more here..

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