Mapletree acquires five properties in South Korea

The acquisition was first announced on 15 February.

Mapletree Logistics Trust (MLT) has completed the acquisition of five logistic properties in South Korea with a total value of $334.8m.

According to an announcement posted by the Singapore Exchange, MLT now indirectly wholly owns CoreLogis and Gwan-ri through a 99.9% interest in the logistics assets known as AbleLogis, Bukuk and Dongsan (REF Properties).

The properties have a total gross floor area of 150,000 square metres with an initial net property income yield of 4.5%.

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