MTI sells three properties to Brookfield for $535.3m
Proceeds from the sale will first be used to repay debt.
Mapletree Industrial Trust (MIT) has agreed to sell three industrial properties—The Strategy, The Synergy, and Woodlands Central Cluster—to Brookfield Asset Management for $535.3m.
The sale price is 2.6% above the independent valuation of $521.5m and 22.1% higher than the original purchase cost of $438.4m.
Ler Lily, chief executive officer of MIT Manager, said the sale supports their strategy to optimise the portfolio and maintain financial flexibility. Singapore assets will still make up about 44.4% of MIT’s portfolio.
Proceeds from the sale will first be used to repay debt, cutting MIT’s leverage from 40.1% to around 37%, and improving its interest coverage ratio from 4.3 to 5.1 times.
The transaction is expected to close by Q3 2025.
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