Mapletree Logistics Trust to acquire 17 modern Grade-A logistic properties for $1.4b

Of the 17 properties, 13 are in China, three in Vietnam, and one in Japan.

Mapletree Logistics Trust (MLT) bared plans to acquire 17 modern Grade-A logistics properties for $1.4b.
In a bourse filing, MLT’s manager said 13 out of the 17 properties to be acquired are located in China, whilst three are in Vietnam, and one is in Japan.
The China and Vietnam properties were valued at approximately $870m and $129.9m, respectively
The value for the Japan asset, meanwhile, was pegged at $416.3m.
MLTs manager said the logistic trust plans to fund its proposed acquisitions via a combination of equity, including consideration units, and debt.
CEO of the Manager, Ng Kiat, said the acquisitions will expand MLT’s “network connectivity” in China and Vietnam which they consider to be “large growing consumer markets.” 
The Japan property, meanwhile, will scale up the MLT’s presence in Greater Nagoya which Ng described as  an “attractive logistics market.”
Both the China and Vietnam properties have an occupancy of 91.0% with a weighted average lease expiry of 2.9 years.
Meanwhile, the Japan asset has 82.5% occupancy and weighted average lease expiry of 1.7 years.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Banks should have enough buffers and find climate transition risks manageable.
The initiative is expected to improve the operating environment for SG businesses.
This includes the upgrade to the latest data acquisition and control system.
A potential incentive fee of up to $18m may be applied. 
This is part of the group’s efforts to spearhead maritime decarbonisation.
This is higher compared to September's retail sales YoY increase at 6.8%.
Restaurants experienced the most YoY decline at 24%. 
Over 40 companies were recognised in the 7th edition of the awards programme.
VTL scheme to proceed “without change” amidst detection of Omicron variant in Korea.
SATS, Sembcorp Industries, and the SGX led the index.
Birth rates in the country have declined since the pandemic began.
It represents a premium to the property’s book value of approximately $20.6m.
The move will be part of the redevelopment of the Central Mall properties.
It also waived its right to walk away from potential material adverse effects.