Mapletree Logistics Trust recently bought the remaining share in Shatin No. 3, Hong Kong for $103.7m.
Over the past two months, industrial REITs showed high activity in driving their inorganic growth strategy, OCBC Investment Research said.
Most recently, Mapletree Logistics Trust (MLT) bought the remaining 38% strata share value of Shatin No. 3 in Hong Kong for $103.7m. MLT will spend $5.12m (HK$30m) on renovation to enhance the attractiveness of the asset which is currently vacant.
Ascendas REIT also completed the acquisition of a suburban office in Brisbane, Australia for $109.0m.
OCBC said this can have an initial net property income (NPI) yield of 6.5%, or 6.1% post-transaction costs.
Not all acquisitions by industrial REITs were done overseas, as ESR REIT acquired an 80% stake in a special purpose vehicle (SPV) which owns the leasehold interest in a high-specification building at 7000 Ang Mo Kio Avenue 5 for $240m.
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