News

Commercial Property

Staff Reporter

, Singapore

Published:

1 year ago

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Mapletree Industrial Trust divests US data centre asset for $15.5m

The proposed divestment is expected to be completed in Q2 2025.

Mapletree Industrial Trust (MTI) is proposing to divest a single-storey data centre located in the United States of America for $15.5m (US$11.8m) to a non-interested third-party purchaser.

The asset, located at 2775 Northwoods Parkway in Norcross, Georgia, is a single-storey data centre with a net lettable area of about 32,740 sq ft. It sits on freehold land spanning approximately 140,341 sq ft within the Northwoods Business Center.

The sale price of $15.5m (US$11.8m) represents an 18.6% premium above the independent valuation of $13.07m (US$9.95m) as of 31 March.

The property contributed about 0.1% to the MIT portfolio’s gross revenue in FY2024. Proceeds from the divestment may be used to pare down debt and/or fund working capital requirements.

The current lease expires in August 2025. The proposed divestment is expected to be completed in Q2 2025.

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Mapletree Industrial Trust

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