MIT's next buy could be Mapletree's stakes in US data centres: analyst

Data centres could feature more strongly in its deal pipeline.

The remaining stakes in US data centres held by its sponsor Mapletree Investments could likely be Mapletree Industrial Trust’s (MIT) next buy, according to a report by CGS-CIMB.

Also Read: MIT buys 10 data centres in North America for $750.1m

The trust expressed that data centres could feature more strongly in its deal pipeline, and has been exploring deals from its sponsor and third parties. The timeline for such acquisitions could still depend on its sponsor, the report noted.

A separate report by DBS projected that about 82% of its portfolio will derive from high-specification, business parks and data centre properties in 2020, higher than the current 71%.

Furthermore, sponsor pipeline or joint venture stakes, as well as third party acquisitions, should help grow the trust’s data centre exposure, Jefferies reported.

MIT’s’s net property income (NPI) rose 14% YoY to $81.91m in Q3 FY2019-2020, driven by improved occupancy from its business park buildings.

Also Read: Mapletree Industrial Trust's NPI grew 14% to $81.91m in Q3 2019

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