Mapletree Logistics Trust to divest South Korean asset for $7.4m

The buyer is an unrelated third party.

Mapletree Logistics Trust (MLT) will sell its Yeoju logistics centre in South Korea for $7.4m (KRW8b).

The sale will be made through a wholly owned South Korean subsidiary of its trustee, HSBC Institutional Trust Services (Singapore) Limited.

The buyer is an unrelated third party. The sale price is 1.3% above the latest valuation of $7.34m (KRW7.9b) as of 31 March 2025 and will be paid in cash.

The property includes a two-storey warehouse and a three-storey office building, with a gross floor area of around 10,959 square metres. It is about 18.2 years old.

MLT said the divestment is part of its strategy to refresh its portfolio and reallocate capital to higher-growth logistics assets.

The deal is expected to close by the second quarter of FY25/26 and will not have a material impact on MLT’s net asset value or net property income for the year.

Following the sale, MLT’s portfolio will consist of 175 properties.