Mapletree Logistics Trust to acquire logistics properties in Japan, Australia, and South Korea
The REIT will acquire the priorities for $913.6m.
Mapletree Logistics Trust (MLT) will acquire six logistics properties in Japan, one in Sydney, Australia, and another in Seoul, South Korea.
In a bourse filing, MLT’s manager said the REIT will acquire the Japan, Australia, and South Korea properties for $652.7m, $112.2m, and $148.7m, respectively.
The total acquisition price for the properties is approximately $913.6m which represents a discount of 4.0% to the aggregate valuations by the independent property valuers appointed by the REIT’s manager.
The total acquisition cost, including acquisition-related expenses, is $946.8m.
Meanwhile, MLT’s manager is also planning to acquire two modern logistics properties, one completed and one under construction, in Jiaxing, China, with an estimated value of $209.6m.
The REIT also unveiled plans to divest an existing property in New Territories, Hong Kong for $100.3m.