Mapletree Logistics Trust bought five warehouses in West Region for $730m.
This chart from Colliers International shows that industrial investment sales jumped 52.3% QoQ to $1.2b.
However, the firm revealed that the total volume of deals crashed 57.9% YoY as Q3 2017 recorded the highest level of industrial property sales backed by ExxonMobil’s petrochemical plant buy worth $2b. The firm added that total industrial investment sales hit $2.3b in September YTD.
“We expect demand for industrial properties to grow as they can offer attractive yields to qualified investors and rents appear to be stabilising,” Colliers International explained.
The firm believes that interest will noticeably come from REITs’ demand for investible industrial assets in higher-end sectors such as data centres, high-spec facilities and modern ramp-up logistics properties.
The five warehouses in West Region sold for $730m to Mapletree Logistics Trust saw the highest transaction deal for the quarter. Other notable deals include the Geo-Tele Centre sold for $99.6m to Ascendas-Singbridge Group, the Tien Wah Press Building sold for $60m to Logos Property, and Forte sold for SB Investment.
Do you know more about this story? Contact us anonymously through this link.